Balyasny Asset Management L.P. Invests $1.26 Million in Arch Capital Group Ltd. (NASDAQ:ACGL)

Balyasny Asset Management L.P. bought a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 13,688 shares of the insurance provider’s stock, valued at approximately $1,264,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ACGL. Vanguard Group Inc. raised its stake in Arch Capital Group by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 41,999,603 shares of the insurance provider’s stock valued at $3,878,663,000 after purchasing an additional 182,150 shares in the last quarter. Geode Capital Management LLC raised its stake in Arch Capital Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 11,010,756 shares of the insurance provider’s stock valued at $1,014,648,000 after purchasing an additional 180,493 shares in the last quarter. Principal Financial Group Inc. raised its stake in Arch Capital Group by 10.5% in the fourth quarter. Principal Financial Group Inc. now owns 8,222,244 shares of the insurance provider’s stock valued at $759,324,000 after purchasing an additional 783,506 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Arch Capital Group by 4.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,350,868 shares of the insurance provider’s stock valued at $488,992,000 after purchasing an additional 226,617 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Arch Capital Group by 11.3% in the fourth quarter. Northern Trust Corp now owns 4,860,804 shares of the insurance provider’s stock valued at $448,895,000 after purchasing an additional 495,262 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Stock Performance

NASDAQ:ACGL opened at $93.42 on Wednesday. The stock has a market cap of $35.10 billion, a P/E ratio of 8.34, a price-to-earnings-growth ratio of 2.31 and a beta of 0.57. The company has a current ratio of 0.54, a quick ratio of 0.58 and a debt-to-equity ratio of 0.15. The stock’s 50-day moving average is $92.32 and its 200-day moving average is $93.75. Arch Capital Group Ltd. has a 1-year low of $82.49 and a 1-year high of $116.47.

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

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wells Fargo & Company boosted their price target on Arch Capital Group from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Barclays dropped their price target on Arch Capital Group from $100.00 to $93.00 and set an “equal weight” rating for the company in a research note on Friday, April 11th. Morgan Stanley dropped their price target on Arch Capital Group from $115.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. JPMorgan Chase & Co. boosted their price target on Arch Capital Group from $106.00 to $107.00 and gave the company a “neutral” rating in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada decreased their target price on Arch Capital Group from $125.00 to $110.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 12th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Arch Capital Group has an average rating of “Moderate Buy” and a consensus target price of $115.00.

Insider Transactions at Arch Capital Group

In related news, CEO Nicolas Papadopoulo sold 7,636 shares of Arch Capital Group stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $92.48, for a total value of $706,177.28. Following the transaction, the chief executive officer now directly owns 795,718 shares of the company’s stock, valued at $73,588,000.64. The trade was a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Louis T. Petrillo sold 11,600 shares of Arch Capital Group stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $91.00, for a total value of $1,055,600.00. Following the completion of the transaction, the insider now directly owns 140,023 shares in the company, valued at approximately $12,742,093. This represents a 7.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,886 shares of company stock worth $3,335,702. Insiders own 4.20% of the company’s stock.

About Arch Capital Group

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.