Madison Asset Management LLC Takes $368.81 Million Position in Arch Capital Group Ltd. $ACGL

Madison Asset Management LLC purchased a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,799,789 shares of the insurance provider’s stock, valued at approximately $368,808,000. Arch Capital Group comprises approximately 4.4% of Madison Asset Management LLC’s investment portfolio, making the stock its largest holding. Madison Asset Management LLC owned approximately 1.11% of Arch Capital Group as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Elyxium Wealth LLC acquired a new position in shares of Arch Capital Group during the fourth quarter worth $27,000. WealthCollab LLC raised its holdings in Arch Capital Group by 410.3% during the 3rd quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 238 shares during the last quarter. Torren Management LLC raised its stake in Arch Capital Group by 66.9% during 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 during the last quarter. JPL Wealth Management LLC acquired a new stake in Arch Capital Group during the 3rd quarter worth about $28,000. Finally, TD Waterhouse Canada Inc. grew its holdings in Arch Capital Group by 72.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 323 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 136 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

ACGL has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of Arch Capital Group from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Arch Capital Group in a report on Thursday, August 13th. Mizuho raised their price target on shares of Arch Capital Group from $101.00 to $104.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Citigroup reaffirmed a “market outperform” rating on shares of Arch Capital Group in a report on Wednesday, July 29th. Finally, Wells Fargo & Company increased their target price on shares of Arch Capital Group from $114.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $111.11.

Insiders Place Their Bets

In related news, Director Brian S. Posner sold 3,000 shares of Arch Capital Group stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total value of $58,980.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.30% of the company’s stock.

Arch Capital Group Trading Down 0.4%

Shares of ACGL stock opened at $98.53 on Thursday. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $107.08. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.23. The company has a 50 day moving average of $98.61 and a 200-day moving average of $96.70. The firm has a market cap of $33.62 billion, a P/E ratio of 7.70, a PEG ratio of 10.36 and a beta of 0.31.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.09. Arch Capital Group had a net margin of 24.40% and a return on equity of 17.06%. The firm had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter last year, the company earned $2.58 earnings per share. Sell-side analysts anticipate that Arch Capital Group Ltd. will post 9.45 earnings per share for the current year.

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.