Norges Bank Takes $437.29 Million Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Norges Bank acquired a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,735,145 shares of the insurance provider’s stock, valued at approximately $437,291,000. Norges Bank owned 1.26% of Arch Capital Group at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ACGL. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of Arch Capital Group by 3.5% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 197,111 shares of the insurance provider’s stock valued at $18,203,000 after purchasing an additional 6,663 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Arch Capital Group by 5.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 111,229 shares of the insurance provider’s stock valued at $12,444,000 after buying an additional 5,614 shares in the last quarter. Pittenger & Anderson Inc. lifted its position in shares of Arch Capital Group by 56.6% during the 4th quarter. Pittenger & Anderson Inc. now owns 6,720 shares of the insurance provider’s stock valued at $621,000 after acquiring an additional 2,430 shares during the period. Northstar Group Inc. boosted its stake in shares of Arch Capital Group by 5.1% during the 4th quarter. Northstar Group Inc. now owns 122,197 shares of the insurance provider’s stock worth $11,285,000 after acquiring an additional 5,947 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. acquired a new stake in shares of Arch Capital Group in the 4th quarter worth approximately $366,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Barclays decreased their target price on Arch Capital Group from $120.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. UBS Group lowered their price objective on shares of Arch Capital Group from $131.00 to $127.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Morgan Stanley cut their target price on shares of Arch Capital Group from $115.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. JPMorgan Chase & Co. lowered their price target on shares of Arch Capital Group from $110.00 to $106.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Finally, Keefe, Bruyette & Woods cut their price objective on Arch Capital Group from $120.00 to $113.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $117.19.

Arch Capital Group Stock Down 1.9 %

ACGL opened at $95.06 on Friday. The stock has a market capitalization of $35.68 billion, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of 2.31 and a beta of 0.62. Arch Capital Group Ltd. has a 12 month low of $87.42 and a 12 month high of $116.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.54 and a quick ratio of 0.58. The business has a 50-day moving average of $92.16 and a two-hundred day moving average of $98.27.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Monday, February 10th. The insurance provider reported $2.26 EPS for the quarter, topping the consensus estimate 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 quarter last year, the business earned $2.45 earnings per share. On average, research analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Louis T. Petrillo sold 11,600 shares of Arch Capital Group stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $91.00, for a total value of $1,055,600.00. Following the transaction, the insider now directly owns 140,023 shares of the company’s stock, valued at $12,742,093. The trade was a 7.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 4.20% of the company’s stock.

Arch Capital Group Company 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.