NEOS Investment Management LLC Raises Stake in Arch Capital Group Ltd. $ACGL

NEOS Investment Management LLC lifted its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 49.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,652 shares of the insurance provider’s stock after purchasing an additional 16,343 shares during the period. NEOS Investment Management LLC’s holdings in Arch Capital Group were worth $4,505,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its position in shares of Arch Capital Group by 426.0% during the third quarter. Cornerstone Planning Group LLC now owns 384 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 311 shares during the period. Quent Capital LLC purchased a new stake in shares of Arch Capital Group in the third quarter valued at approximately $37,000. Richardson Financial Services Inc. grew its stake in Arch Capital Group by 63.3% in the third quarter. Richardson Financial Services Inc. now owns 418 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 162 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Arch Capital Group by 3,450.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 414 shares during the period. Finally, TD Waterhouse Canada Inc. increased its holdings in Arch Capital Group by 31.4% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 469 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 112 shares during the period. Institutional investors own 89.07% of the company’s stock.

Insider Activity at Arch Capital Group

In related news, insider Maamoun Rajeh sold 47,430 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $96.12, for a total transaction of $4,558,971.60. Following the completion of the transaction, the insider owned 433,589 shares of the company’s stock, valued at $41,676,574.68. This trade represents a 9.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Francois Morin sold 8,000 shares of the business’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $94.62, for a total transaction of $756,960.00. Following the transaction, the chief financial officer owned 266,681 shares of the company’s stock, valued at $25,233,356.22. This represents a 2.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 268,096 shares of company stock worth $25,287,645 over the last quarter. Insiders own 4.20% of the company’s stock.

Arch Capital Group Price Performance

NASDAQ ACGL opened at $98.06 on Thursday. The company has a market cap of $35.56 billion, a price-to-earnings ratio of 8.44, a PEG ratio of 3.96 and a beta of 0.42. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.53 and a quick ratio of 0.55. The stock’s fifty day moving average price is $95.55 and its 200 day moving average price is $92.17. Arch Capital Group Ltd. has a 1 year low of $82.44 and a 1 year high of $103.39.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Monday, February 9th. The insurance provider reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.64. Arch Capital Group had a return on equity of 16.73% and a net margin of 22.07%.The business had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the previous year, the business earned $2.26 EPS. As a group, equities research analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ACGL shares. The Goldman Sachs Group reiterated a “sell” rating and issued a $93.00 target price (up from $84.00) on shares of Arch Capital Group in a report on Wednesday, January 7th. Royal Bank Of Canada upped their price objective on shares of Arch Capital Group from $108.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 11th. Barclays set a $104.00 target price on shares of Arch Capital Group and gave the stock an “equal weight” rating in a report on Thursday, January 8th. Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 target price (up from $97.00) on shares of Arch Capital Group in a report on Tuesday. Finally, Roth Mkm set a $110.00 price target on shares of Arch Capital Group and gave the company a “buy” rating in a report on Tuesday, December 2nd. Nine investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $109.20.

Arch Capital Group Company Profile

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.