Arch Capital Group Ltd. $ACGL Stock: Kinsale Capital Group Inc. Grows Position

Kinsale Capital Group Inc. lifted its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 47.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 165,784 shares of the insurance provider’s stock after acquiring an additional 53,234 shares during the period. Arch Capital Group makes up 2.1% of Kinsale Capital Group Inc.’s portfolio, making the stock its 16th biggest position. Kinsale Capital Group Inc.’s holdings in Arch Capital Group were worth $15,312,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Horizons Wealth Management acquired a new position in shares of Arch Capital Group during the 3rd quarter valued at $25,000. Torren Management LLC boosted its position in Arch Capital Group by 66.9% during the 2nd quarter. Torren Management LLC now owns 292 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 117 shares during the period. Continuum Advisory LLC purchased a new stake in Arch Capital Group during the 2nd quarter worth $46,000. Provenance Wealth Advisors LLC acquired a new stake in Arch Capital Group in the 3rd quarter valued at $55,000. Finally, Westpac Banking Corp acquired a new stake in Arch Capital Group in the 1st quarter valued at $69,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. BMO Capital Markets boosted their price objective on Arch Capital Group from $95.00 to $102.00 in a research note on Wednesday, August 5th. Cantor Fitzgerald set a $106.00 target price on Arch Capital Group in a research note on Tuesday, November 3rd. Citigroup raised their target price on Arch Capital Group from $122.50 to $125.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Atlantic Securities set a $126.00 price target on Arch Capital Group in a research report on Wednesday, July 15th. Finally, Weiss Ratings raised Arch Capital Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 9th. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $111.65.

Insider Transactions at Arch Capital Group

In related news, CFO Francois Morin sold 11,010 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $99.32, for a total value of $1,093,513.20. Following the sale, the chief financial officer directly owned 184,826 shares of the company’s stock, valued at $18,356,918.32. This represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.30% of the stock is owned by corporate insiders.

Arch Capital Group Stock Performance

Shares of ACGL opened at $108.12 on Tuesday. The business’s 50 day moving average is $99.03 and its two-hundred day moving average is $97.30. Arch Capital Group Ltd. has a 52-week low of $87.05 and a 52-week high of $113.63. The firm has a market cap of $36.89 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 3.65 and a beta of 0.22. The company has a quick ratio of 0.57, a current ratio of 0.56 and a debt-to-equity ratio of 0.21.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, October 27th. The insurance provider reported $2.67 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.36. Arch Capital Group had a net margin of 23.31% and a return on equity of 16.62%. The business had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter last year, the company earned $2.77 earnings per share. Analysts forecast that Arch Capital Group Ltd. will post 10.18 EPS for the current fiscal year.

About Arch Capital Group

Arch Capital Group Ltd. is a global insurance and reinsurance company headquartered in Bermuda. Through its insurance, reinsurance and mortgage insurance operations, it provides coverage and risk-management solutions to businesses, financial institutions and other customers.

The company’s offerings include property and casualty insurance, specialty coverage and reinsurance for risks such as property, casualty and professional liability. Its mortgage insurance business serves lenders and borrowers, primarily in the United States.

Arch conducts business in multiple markets around the world through subsidiaries and operating units.