Pictet Asset Management Holding SA Buys 31,591 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Pictet Asset Management Holding SA boosted its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 16.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 228,753 shares of the insurance provider’s stock after acquiring an additional 31,591 shares during the quarter. Pictet Asset Management Holding SA owned 0.06% of Arch Capital Group worth $21,125,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of Arch Capital Group by 3.5% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 197,111 shares of the insurance provider’s stock worth $18,203,000 after buying an additional 6,663 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in Arch Capital Group by 5.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 111,229 shares of the insurance provider’s stock valued at $12,444,000 after acquiring an additional 5,614 shares in the last quarter. Pittenger & Anderson Inc. boosted its position in Arch Capital Group by 56.6% during the 4th quarter. Pittenger & Anderson Inc. now owns 6,720 shares of the insurance provider’s stock worth $621,000 after acquiring an additional 2,430 shares during the last quarter. Northstar Group Inc. grew 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 fourth quarter valued at approximately $366,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ACGL has been the subject of a number of analyst reports. Keefe, Bruyette & Woods decreased their target price on shares of 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. UBS Group lowered their target price on Arch Capital Group from $131.00 to $127.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reduced their price target on Arch Capital Group from $110.00 to $106.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. JMP Securities reiterated a “market outperform” rating and set a $125.00 price objective on shares of Arch Capital Group in a research note on Tuesday, February 11th. Finally, Morgan Stanley lowered 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 equities research 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 stock currently has an average rating of “Moderate Buy” and an average target price of $117.19.

Arch Capital Group Stock Performance

ACGL opened at $96.18 on Tuesday. 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 fifty day simple moving average of $92.17 and a 200 day simple moving average of $98.00. Arch Capital Group Ltd. has a 1 year low of $87.42 and a 1 year high of $116.47. The company has a market capitalization of $36.14 billion, a PE ratio of 8.59, a price-to-earnings-growth ratio of 2.31 and a beta of 0.62.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Monday, February 10th. The insurance provider reported $2.26 EPS for the quarter, beating 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 period in the prior year, the firm earned $2.45 EPS. Research analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Insider Transactions at Arch Capital Group

In related news, insider Louis T. Petrillo sold 11,600 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 140,023 shares in the company, valued at approximately $12,742,093. The trade was a 7.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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.