Balentine LLC Has $410,000 Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Balentine LLC lifted its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 2.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,527 shares of the insurance provider’s stock after buying an additional 149 shares during the period. Balentine LLC’s holdings in Arch Capital Group were worth $410,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Northern Trust Corp increased its position in Arch Capital Group by 9.2% during the third quarter. Northern Trust Corp now owns 4,652,983 shares of the insurance provider’s stock worth $370,889,000 after buying an additional 390,362 shares during the last quarter. Norges Bank bought a new stake in shares of Arch Capital Group during the fourth quarter worth approximately $309,496,000. Dimensional Fund Advisors LP boosted its holdings in shares of Arch Capital Group by 7.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,518,822 shares of the insurance provider’s stock worth $261,339,000 after acquiring an additional 245,966 shares during the period. Invesco Ltd. boosted its holdings in shares of Arch Capital Group by 16.3% during the third quarter. Invesco Ltd. now owns 3,385,665 shares of the insurance provider’s stock worth $269,871,000 after acquiring an additional 475,464 shares during the period. Finally, Royal Bank of Canada boosted its holdings in shares of Arch Capital Group by 3.4% during the third quarter. Royal Bank of Canada now owns 3,151,688 shares of the insurance provider’s stock worth $251,222,000 after acquiring an additional 104,299 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, CEO Maamoun Rajeh sold 50,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total value of $4,374,000.00. Following the completion of the sale, the chief executive officer now owns 336,170 shares in the company, valued at approximately $29,408,151.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO David Gansberg sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $96.64, for a total transaction of $966,400.00. Following the completion of the sale, the chief executive officer now owns 228,035 shares in the company, valued at approximately $22,037,302.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Maamoun Rajeh sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $87.48, for a total transaction of $4,374,000.00. Following the sale, the chief executive officer now owns 336,170 shares of the company’s stock, valued at approximately $29,408,151.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 145,689 shares of company stock valued at $12,838,617. 4.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ACGL shares. Roth Mkm reiterated a “buy” rating and issued a $110.00 price target on shares of Arch Capital Group in a research note on Tuesday, April 30th. Morgan Stanley boosted their price target on Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. StockNews.com upgraded Arch Capital Group from a “hold” rating to a “buy” rating in a research note on Friday, May 17th. Evercore ISI boosted their price target on Arch Capital Group from $98.00 to $100.00 and gave the company an “in-line” rating in a research note on Tuesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Arch Capital Group from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $100.67.

Arch Capital Group Price Performance

Shares of NASDAQ ACGL opened at $101.65 on Wednesday. Arch Capital Group Ltd. has a fifty-two week low of $69.05 and a fifty-two week high of $102.41. The stock has a market cap of $38.17 billion, a price-to-earnings ratio of 8.02, a PEG ratio of 1.17 and a beta of 0.57. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 0.59. The firm’s 50-day simple moving average is $93.79 and its 200 day simple moving average is $86.01.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.39. Arch Capital Group had a net margin of 33.65% and a return on equity of 21.85%. The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter last year, the firm earned $1.73 EPS. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, research analysts anticipate that Arch Capital Group Ltd. will post 8.55 earnings per share for the current fiscal year.

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.