Lord Abbett & CO. LLC Increases Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Lord Abbett & CO. LLC raised its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 15.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 844,741 shares of the insurance provider's stock after purchasing an additional 115,087 shares during the period. Lord Abbett & CO. LLC owned 0.22% of Arch Capital Group worth $78,012,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ACGL. Principal Financial Group Inc. increased its holdings in shares of Arch Capital Group by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 7,438,738 shares of the insurance provider's stock worth $832,246,000 after purchasing an additional 337,786 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Arch Capital Group in the 3rd quarter worth $1,106,000. SkyView Investment Advisors LLC grew its holdings in shares of Arch Capital Group by 1.6% in the third quarter. SkyView Investment Advisors LLC now owns 29,067 shares of the insurance provider's stock worth $3,252,000 after acquiring an additional 454 shares during the period. World Investment Advisors LLC purchased a new stake in Arch Capital Group during the third quarter valued at $312,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Arch Capital Group in the third quarter worth about $6,817,000. Institutional investors own 89.07% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ACGL. Royal Bank of Canada reduced their target price on shares of Arch Capital Group from $125.00 to $110.00 and set an "outperform" rating for the company in a report on Wednesday, February 12th. JPMorgan Chase & Co. boosted their price target on Arch Capital Group from $106.00 to $107.00 and gave the company a "neutral" rating in a report on Tuesday, April 8th. Morgan Stanley decreased their price objective on Arch Capital Group from $115.00 to $110.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Wells Fargo & Company dropped their target price on shares of Arch Capital Group from $107.00 to $106.00 and set an "overweight" rating for the company in a report on Wednesday, February 12th. Finally, JMP Securities restated a "market outperform" rating and issued a $125.00 price objective on shares of Arch Capital Group in a research report on Tuesday, February 11th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Arch Capital Group presently has a consensus rating of "Moderate Buy" and an average price target of $114.88.

Arch Capital Group Stock Up 1.3 %

NASDAQ ACGL traded up $1.20 during trading on Tuesday, hitting $92.39. The company's stock had a trading volume of 1,271,446 shares, compared to its average volume of 1,827,674. The company has a market cap of $34.71 billion, a PE ratio of 8.25, a P/E/G ratio of 2.31 and a beta of 0.36. 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's 50 day simple moving average is $91.90 and its 200-day simple moving average is $94.81. Arch Capital Group Ltd. has a fifty-two week low of $82.49 and a fifty-two week high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its earnings results on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.59 by ($0.05). Arch Capital Group had a return on equity of 17.96% and a net margin of 24.73%. On average, equities analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Insider Activity at Arch Capital Group

In other news, insider Louis T. Petrillo sold 11,600 shares of the company's 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 sale, the insider now owns 140,023 shares in the company, valued at $12,742,093. This represents a 7.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.20% of the stock is currently owned by insiders.

Arch Capital Group 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.