Arch Capital Group Ltd. (NASDAQ:ACGL) Shares bought by Gladstone Capital Management LLP

VaselineSeptember 23, 2024

0 4 minutes read

Gladstone Capital Management LLP boosted its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL – Free Report) by 0.6% during the second quarter, Holdings Channel reports. The firm owned 1,389,951 shares of the insurance provider’s stock after acquiring an additional 7,725 shares during the quarter. Arch Capital Group comprises 12.4% of Gladstone Capital Management LLP’s portfolio, making the stock its 3rd largest holding. Gladstone Capital Management LLP’s holdings in Arch Capital Group were worth $140,232,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Arch Capital Group by 61.6% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,191,282 shares of the provider’s stock insurance company worth $237,017,000 after buying an additional 1,216,080 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Arch Capital Group by 5.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 431,105 shares of the insurance provider’s stock worth $39,851,000 after acquiring an additional 21,332 shares during the period. Alaska Permanent Fund Corp boosted its holdings in shares of Arch Capital Group by 42.2% in the first quarter. Alaska Permanent Fund Corp now owns 54,578 shares of the insurance provider’s stock worth $5,045,000 after acquiring an additional 16,208 shares during the period. Stifel Financial Corp raised its position in Arch Capital Group by 2.3% in the 4th quarter. Stifel Financial Corp now owns 910,445 shares of the insurance provider’s stock valued at $67,619,000 after buying an additional 20,832 shares in the the last quarter. Finally, Chesapeake Capital Corp IL bought a new position in Arch Capital Group in the 4th quarter valued at about $802,000. 89.07% of shares are currently owned by institutional investors.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $113.24 on Monday. The stock’s fifty-day simple moving average is $104.15, and its 200-day simple moving average is $99.04. The company has a market cap of $42.59 billion, a price-to-earnings ratio of 8.94, a P/E/G ratio of 2.07 and a beta of 0.60. 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 Ltd. has a 1-year low of $72.85 and a 1-year high of $114.69.

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Arch Capital Group (NASDAQ:ACGL – Get Free Report ) last announced its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.36. The company had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. Arch Capital Group’s revenue for the quarter was up 10.3% on a year-over-year basis. In the same period last year, the company posted EPS of $1.92. On average, sell-side analysts anticipate that Arch Capital Group Ltd. will post 9.01 earnings per share for the current fiscal year.

Changes in Analyst Ratings

Several equities analysts have recently issued reports on ACGL shares. Wells Fargo & Company cut their price objective on Arch Capital Group from $111.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Evercore ISI boosted their price target on Arch Capital Group from $100.00 to $104.00 and gave the company an “in-line” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price objective on Arch Capital Group from $106.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Citigroup raised their target price on Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Finally, Barclays started coverage on shares of Arch Capital Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 price target for the company. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Arch Capital Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.73, according to MarketBeat.com.

Read our latest research report on ACGL

Insider activity at Arch Capital Group

In other news, CFO Francois Morin sold 11,460 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the completion of the transaction, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. 4.20% of shares are held by corporate insiders.

Arch Capital Group Profile

(Free Report)

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance and mortgage insurance products worldwide. The company’s insurance segment provides primary and excess casualty coverages; loss-sensitive primary insurance programs; directors’ and officers’ liability, errors and omissions liability, employment practices and fiduciary liability, torts, professional indemnity and other financial coverage; Professional medical and general liability insurance covers; and workers’ compensation and umbrella liability, as well as commercial auto and inland marine products.