Davis Asset Management L.P. Invests $63.09 Million in Arch Capital Group Ltd. $ACGL

Davis Asset Management L.P. purchased a new position in Arch Capital Group Ltd. (NASDAQ:ACGL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 650,000 shares of the insurance provider’s stock, valued at approximately $63,089,000. Arch Capital Group makes up 1.6% of Davis Asset Management L.P.’s investment portfolio, making the stock its 21st largest holding.

Several other institutional investors also recently bought and sold shares of ACGL. Elyxium Wealth LLC bought a new stake in Arch Capital Group during the 4th quarter valued at about $27,000. Torren Management LLC lifted its stake in shares of Arch Capital Group by 66.9% in the second quarter. Torren Management LLC now owns 292 shares of the insurance provider’s stock worth $28,000 after buying an additional 117 shares in the last quarter. WealthCollab LLC lifted its stake in shares of Arch Capital Group by 410.3% in the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock worth $27,000 after buying an additional 238 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Arch Capital Group during the third quarter valued at approximately $28,000. Finally, TD Waterhouse Canada Inc. grew its holdings in shares of Arch Capital Group by 72.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 323 shares of the insurance provider’s stock valued at $31,000 after buying an additional 136 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Trading Up 0.1%

NASDAQ:ACGL opened at $99.39 on Friday. The company has a market cap of $33.91 billion, a PE ratio of 7.77, a price-to-earnings-growth ratio of 4.89 and a beta of 0.31. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.23. The company has a 50 day simple moving average of $98.93 and a two-hundred day simple moving average of $96.75. Arch Capital Group Ltd. has a 12 month low of $82.44 and a 12 month high of $107.08.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.09. The firm had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.36 billion. Arch Capital Group had a return on equity of 17.06% and a net margin of 24.40%.During the same period in the prior year, the firm earned $2.58 EPS. Research analysts forecast that Arch Capital Group Ltd. will post 9.45 earnings per share for the current year.

Insiders Place Their Bets

In other Arch Capital Group news, CFO Francois Morin sold 11,010 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $99.32, for a total transaction of $1,093,513.20. Following the completion of the sale, the chief financial officer directly owned 184,826 shares in the company, valued at $18,356,918.32. The trade was a 5.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brian S. Posner sold 3,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total transaction of $58,980.00. The disclosure for this sale is available in the SEC filing. 3.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Cantor Fitzgerald boosted their price objective on shares of Arch Capital Group from $102.00 to $110.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Morgan Stanley upped their price objective on Arch Capital Group from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Keefe, Bruyette & Woods cut their target price on Arch Capital Group from $102.00 to $99.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 8th. Wells Fargo & Company boosted their price target on Arch Capital Group from $114.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $120.00 price target (up from $115.00) on shares of Arch Capital Group in a report on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Arch Capital Group currently has an average rating of “Hold” and a consensus target price of $111.11.

Arch Capital Group 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.