Carderock Capital Management Inc. Has $10.89 Million Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Carderock Capital Management Inc. increased its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.1% during the third quarter, Holdings Channel.com reports. The firm owned 97,339 shares of the insurance provider’s stock after buying an additional 1,087 shares during the quarter. Arch Capital Group accounts for approximately 2.6% of Carderock Capital Management Inc.’s holdings, making the stock its 9th biggest position. Carderock Capital Management Inc.’s holdings in Arch Capital Group were worth $10,890,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Arch Capital Group by 0.3% in the first quarter. Vanguard Group Inc. now owns 40,858,890 shares of the insurance provider’s stock valued at $3,776,996,000 after buying an additional 104,008 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Arch Capital Group by 4.4% in the 2nd quarter. Principal Financial Group Inc. now owns 7,100,952 shares of the insurance provider’s stock worth $716,415,000 after acquiring an additional 300,716 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Arch Capital Group by 1.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,907,122 shares of the insurance provider’s stock worth $546,054,000 after acquiring an additional 99,329 shares during the last quarter. Capital International Investors lifted its position in Arch Capital Group by 61.1% in the 1st quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock valued at $380,167,000 after acquiring an additional 1,560,173 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Arch Capital Group by 6.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,925,288 shares of the insurance provider’s stock valued at $396,026,000 after purchasing an additional 244,285 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling at Arch Capital Group

In other news, CFO Francois Morin sold 11,460 shares of Arch Capital Group stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the transaction, the chief financial officer now owns 221,779 shares in the company, valued at $22,723,476.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. JMP Securities increased their price objective on Arch Capital Group from $115.00 to $125.00 and gave the stock a “market outperform” rating in a research note on Tuesday. Roth Mkm raised their price objective on Arch Capital Group from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Keefe, Bruyette & Woods upped their target price on shares of Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Jefferies Financial Group raised their price target on shares of Arch Capital Group from $114.00 to $134.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company upped their price objective on shares of Arch Capital Group from $110.00 to $126.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $119.53.

Arch Capital Group Price Performance

Arch Capital Group stock opened at $107.47 on Thursday. The business’s 50 day simple moving average is $109.66 and its 200 day simple moving average is $101.66. Arch Capital Group Ltd. has a 12 month low of $72.85 and a 12 month high of $116.47. The company has a market cap of $40.35 billion, a price-to-earnings ratio of 8.48, a PEG ratio of 2.03 and a beta of 0.59. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.16.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. The firm had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.92 EPS. Sell-side analysts forecast that Arch Capital Group Ltd. will post 9.11 EPS for the current 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.