Zurcher Kantonalbank Zurich Cantonalbank Boosts Holdings in Arch Capital Group Ltd. $ACGL

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 58.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 268,919 shares of the insurance provider’s stock after acquiring an additional 99,215 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.07% of Arch Capital Group worth $25,795,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ACGL. WealthCollab LLC lifted its position in Arch Capital Group by 410.3% during the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 238 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in Arch Capital Group during the third quarter valued at approximately $28,000. Grove Bank & Trust purchased a new stake in Arch Capital Group during the fourth quarter valued at approximately $30,000. Aventura Private Wealth LLC purchased a new position in shares of Arch Capital Group in the fourth quarter worth $30,000. Finally, Cornerstone Planning Group LLC raised its holdings in shares of Arch Capital Group by 426.0% in the third quarter. Cornerstone Planning Group LLC now owns 384 shares of the insurance provider’s stock worth $33,000 after buying an additional 311 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ACGL shares. Weiss Ratings raised shares of Arch Capital Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. Evercore set a $100.00 price target on shares of Arch Capital Group and gave the stock an “in-line” rating in a report on Wednesday, January 7th. Morgan Stanley set a $125.00 price target on shares of Arch Capital Group in a report on Friday, January 16th. Barclays raised their price target 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. Finally, JPMorgan Chase & Co. decreased their price target on shares of Arch Capital Group from $117.00 to $110.00 and set a “neutral” rating for the company in a report on Monday. Nine research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $108.93.

Arch Capital Group Stock Up 1.4%

NASDAQ:ACGL opened at $98.85 on Wednesday. The firm has a market capitalization of $35.22 billion, a P/E ratio of 8.51, a PEG ratio of 4.85 and a beta of 0.41. Arch Capital Group Ltd. has a 1-year low of $82.44 and a 1-year high of $103.39. The company’s fifty day moving average price is $96.75 and its 200-day moving average price is $94.07. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.53 and a quick ratio of 0.53.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Monday, February 9th. The insurance provider reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.64. The firm had revenue of $4.93 billion for the quarter, compared to analyst estimates of $3.94 billion. Arch Capital Group had a net margin of 22.07% and a return on equity of 16.73%. During the same quarter in the prior year, the business earned $2.26 earnings per share. As a group, equities research analysts anticipate that Arch Capital Group Ltd. will post 9.36 EPS for the current year.

Insider Buying and Selling at Arch Capital Group

In related news, insider David Gansberg sold 5,907 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $96.37, for a total transaction of $569,257.59. Following the sale, the insider owned 336,559 shares in the company, valued at approximately $32,434,190.83. This trade represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian S. Posner sold 3,000 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $17.11, for a total transaction of $51,330.00. Following the sale, the director owned 2,000 shares in the company, valued at approximately $34,220. This represents a 60.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 78,267 shares of company stock worth $7,291,637 over the last ninety days. 3.30% of the stock is owned by insiders.

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.