Horizon Advisory Services Inc. Acquires New Shares in Arch Capital Group Ltd. (NASDAQ:ACGL)

Horizon Advisory Services Inc. acquired a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 2,876 shares of the insurance provider’s stock, valued at approximately $266,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp lifted its stake in shares of Arch Capital Group by 1.1% in the 3rd quarter. State Street Corp now owns 16,587,446 shares of the insurance provider’s stock valued at $1,855,803,000 after purchasing an additional 172,628 shares during the last quarter. Geode Capital Management LLC raised its holdings in Arch Capital Group by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 10,830,263 shares of the insurance provider’s stock worth $1,208,307,000 after acquiring an additional 253,648 shares during the period. Principal Financial Group Inc. raised its holdings in Arch Capital Group by 10.5% in the 4th quarter. Principal Financial Group Inc. now owns 8,222,244 shares of the insurance provider’s stock worth $759,324,000 after acquiring an additional 783,506 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Arch Capital Group by 4.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,350,868 shares of the insurance provider’s stock worth $488,992,000 after acquiring an additional 226,617 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Arch Capital Group by 245.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,739 shares of the insurance provider’s stock worth $341,652,000 after acquiring an additional 2,168,897 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analysts Set New Price Targets

ACGL has been the topic of several recent analyst reports. Bank of America dropped their target price on shares of Arch Capital Group from $143.00 to $136.00 and set a “buy” rating on the stock in a report on Friday, November 15th. BMO Capital Markets lifted their target price on shares of Arch Capital Group from $98.00 to $104.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. JMP Securities reiterated a “market outperform” rating and issued a $125.00 target price on shares of Arch Capital Group in a report on Tuesday, February 11th. JPMorgan Chase & Co. dropped their target price on shares of Arch Capital Group from $110.00 to $106.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Finally, Morgan Stanley dropped their target price on shares of Arch Capital Group from $115.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.19.

Arch Capital Group Stock Performance

NASDAQ ACGL opened at $89.55 on Tuesday. The stock has a market cap of $33.69 billion, a P/E ratio of 8.00, a PEG ratio of 2.31 and a beta of 0.64. The company’s 50-day simple moving average is $91.93 and its 200 day simple moving average is $100.62. Arch Capital Group Ltd. has a twelve month low of $86.16 and a twelve month high of $116.47. The company has a quick ratio of 0.58, a current ratio of 0.54 and a debt-to-equity ratio of 0.15.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Monday, February 10th. The insurance provider reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.36. Arch Capital Group had a net margin of 24.73% and a return on equity of 17.96%. During the same period in the previous year, the company earned $2.45 EPS. As a group, research analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

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.