Steamboat Capital Partners LLC Acquires 9,195 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Steamboat Capital Partners LLC grew its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 31.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,502 shares of the insurance provider’s stock after purchasing an additional 9,195 shares during the quarter. Arch Capital Group makes up about 1.1% of Steamboat Capital Partners LLC’s investment portfolio, making the stock its 25th largest position. Steamboat Capital Partners LLC’s holdings in Arch Capital Group were worth $3,556,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its holdings in Arch Capital Group by 11.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 34,504 shares of the insurance provider’s stock valued at $3,186,000 after acquiring an additional 3,410 shares during the period. Park Avenue Securities LLC boosted its holdings in Arch Capital Group by 5.7% during the 4th quarter. Park Avenue Securities LLC now owns 25,990 shares of the insurance provider’s stock valued at $2,400,000 after acquiring an additional 1,408 shares during the period. Procyon Advisors LLC boosted its holdings in Arch Capital Group by 15.1% during the 4th quarter. Procyon Advisors LLC now owns 10,667 shares of the insurance provider’s stock valued at $985,000 after acquiring an additional 1,403 shares during the period. Chemistry Wealth Management LLC boosted its holdings in Arch Capital Group by 24.3% during the 4th quarter. Chemistry Wealth Management LLC now owns 7,423 shares of the insurance provider’s stock valued at $686,000 after acquiring an additional 1,450 shares during the period. Finally, Wedge Capital Management L L P NC boosted its holdings in Arch Capital Group by 4.7% during the 4th quarter. Wedge Capital Management L L P NC now owns 120,909 shares of the insurance provider’s stock valued at $11,166,000 after acquiring an additional 5,417 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Arch Capital Group Trading Up 1.1%

ACGL opened at $94.59 on Friday. The stock has a market cap of $35.45 billion, a PE ratio of 8.45, a PEG ratio of 2.31 and a beta of 0.57. The company has a quick ratio of 0.58, a current ratio of 0.54 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average of $92.47 and a 200-day moving average of $93.49. Arch Capital Group Ltd. has a 52 week low of $82.49 and a 52 week high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Tuesday, April 29th. The insurance provider reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.05). The firm had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Arch Capital Group had a net margin of 24.73% and a return on equity of 17.96%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.45 EPS. Equities research analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ACGL. Keefe, Bruyette & Woods increased their target price on Arch Capital Group from $104.00 to $113.00 and gave the company an “outperform” rating in a report on Tuesday, May 6th. Wells Fargo & Company increased their target price on Arch Capital Group from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Morgan Stanley dropped their price objective on Arch Capital Group from $115.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, February 14th. JPMorgan Chase & Co. increased their price objective on Arch Capital Group from $106.00 to $107.00 and gave the stock a “neutral” rating in a report on Tuesday, April 8th. Finally, Jefferies Financial Group increased their price objective on Arch Capital Group from $105.00 to $106.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Arch Capital Group has an average rating of “Moderate Buy” and an average target price of $115.00.

Insider Activity

In other news, insider John M. Pasquesi sold 75,060 shares of Arch Capital Group stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $94.01, for a total value of $7,056,390.60. Following the completion of the transaction, the insider now owns 579,218 shares of the company’s stock, valued at $54,452,284.18. The trade was a 11.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Louis T. Petrillo sold 16,650 shares of Arch Capital Group stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.53, for a total value of $1,573,924.50. Following the completion of the transaction, the insider now directly owns 140,023 shares of the company’s stock, valued at approximately $13,236,374.19. This represents a 10.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,946 shares of company stock worth $10,392,092 in the last quarter. 4.20% of the stock is owned by company insiders.

Arch Capital Group Profile

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.