Hsbc Holdings PLC Buys 896,480 Shares of Arch Capital Group Ltd. $ACGL

Hsbc Holdings PLC boosted its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 230.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,286,178 shares of the insurance provider’s stock after buying an additional 896,480 shares during the quarter. Hsbc Holdings PLC’s holdings in Arch Capital Group were worth $123,354,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Arch Capital Group during the fourth quarter worth $463,208,000. AQR Capital Management LLC boosted its stake in shares of Arch Capital Group by 184.1% in the 4th quarter. AQR Capital Management LLC now owns 2,670,628 shares of the insurance provider’s stock valued at $256,167,000 after purchasing an additional 1,730,487 shares in the last quarter. Fiduciary Management Inc. WI bought a new stake in shares of Arch Capital Group in the 4th quarter worth about $106,683,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Arch Capital Group by 572.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,268,601 shares of the insurance provider’s stock worth $121,684,000 after purchasing an additional 1,080,049 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Arch Capital Group by 289.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,368,648 shares of the insurance provider’s stock worth $124,615,000 after purchasing an additional 1,016,919 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Brian S. Posner sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total transaction of $58,980.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel Joseph Houston purchased 5,300 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were bought at an average cost of $94.08 per share, for a total transaction of $498,624.00. Following the completion of the purchase, the director directly owned 9,915 shares of the company’s stock, valued at $932,803.20. The trade was a 114.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 3.30% of the company’s stock.

Arch Capital Group Stock Performance

Shares of NASDAQ:ACGL opened at $101.35 on Friday. The business has a fifty day moving average of $95.09 and a 200-day moving average of $95.63. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.55 and a current ratio of 0.55. Arch Capital Group Ltd. has a twelve month low of $82.44 and a twelve month high of $105.09. The firm has a market cap of $35.41 billion, a PE ratio of 7.78, a price-to-earnings-growth ratio of 5.04 and a beta of 0.31.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share (EPS) for the quarter. The business had revenue of $4.52 billion for the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. On average, equities research analysts predict that Arch Capital Group Ltd. will post 9.35 EPS for the current fiscal year.

Analysts Set New Price Targets

ACGL has been the subject of several analyst reports. Wells Fargo & Company lifted their price target on shares of Arch Capital Group from $110.00 to $114.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Mizuho upped their price objective on shares of Arch Capital Group from $101.00 to $104.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Barclays raised their price objective on shares of Arch Capital Group from $104.00 to $106.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 8th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $102.00 target price (up from $100.00) on shares of Arch Capital Group in a research note on Thursday, July 9th. Finally, UBS Group reissued a “buy” rating and issued a $120.00 target price (up from $114.00) on shares of Arch Capital Group in a report on Wednesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $109.39.

About Arch Capital Group

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.