Banque Pictet & Cie SA grew its stake in shares of Arch Capital Group (NASDAQ:ACGL) by 675.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 91,918 shares of the insurance provider’s stock after acquiring an additional 80,057 shares during the quarter. Banque Pictet & Cie SA owned about 0.07% of Arch Capital Group worth $7,867,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of ACGL. Alps Advisors Inc. acquired a new position in shares of Arch Capital Group during the 4th quarter valued at about $203,000. Parametrica Management Ltd acquired a new position in shares of Arch Capital Group during the 4th quarter valued at about $261,000. Insight 2811 Inc. increased its stake in shares of Arch Capital Group by 30.0% during the 1st quarter. Insight 2811 Inc. now owns 4,203 shares of the insurance provider’s stock valued at $360,000 after acquiring an additional 970 shares during the last quarter. Adalta Capital Management LLC increased its stake in shares of Arch Capital Group by 20.0% during the 4th quarter. Adalta Capital Management LLC now owns 4,800 shares of the insurance provider’s stock valued at $436,000 after acquiring an additional 800 shares during the last quarter. Finally, Dynamic Capital Management Ltd acquired a new position in shares of Arch Capital Group during the 4th quarter valued at about $442,000. 77.61% of the stock is owned by institutional investors.
A number of research analysts have recently commented on the stock. Wells Fargo reaffirmed a “hold” rating on shares of Arch Capital Group in a research note on Monday. BidaskClub downgraded shares of Arch Capital Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 13th. Keefe, Bruyette & Woods raised shares of Arch Capital Group from a “market perform” rating to an “outperform” rating in a research report on Thursday, March 22nd. TheStreet downgraded shares of Arch Capital Group from a “b” rating to a “c” rating in a research report on Tuesday, May 1st. Finally, ValuEngine downgraded shares of Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Arch Capital Group has a consensus rating of “Hold” and an average target price of $103.50.
ACGL opened at $78.82 on Friday. The company has a market cap of $10.61 billion, a P/E ratio of 24.55, a price-to-earnings-growth ratio of 1.12 and a beta of 0.63. Arch Capital Group has a 1 year low of $78.25 and a 1 year high of $78.57. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.52 and a quick ratio of 0.52.
Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Tuesday, May 1st. The insurance provider reported $1.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.55 by $0.14. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.19 billion. Arch Capital Group had a net margin of 9.41% and a return on equity of 6.04%. The company’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.42 EPS. analysts expect that Arch Capital Group will post 6.32 earnings per share for the current year.
About Arch Capital Group
Arch Capital Group Ltd., together with its subsidiaries, provides property, casualty, and mortgage insurance and reinsurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; collateral protection, debt cancellation, and service contract reimbursement products; 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.
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