Channing Global Advisors LLC Takes $561,000 Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Channing Global Advisors LLC bought a new stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) during the fourth quarter, HoldingsChannel reports. The firm bought 6,078 shares of the insurance provider’s stock, valued at approximately $561,000.

A number of other hedge funds have also recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of Arch Capital Group by 4.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,350,868 shares of the insurance provider’s stock valued at $488,992,000 after buying an additional 226,617 shares in the last quarter. Marks Group Wealth Management Inc boosted its holdings in shares of Arch Capital Group by 16.3% during the 4th quarter. Marks Group Wealth Management Inc now owns 3,355 shares of the insurance provider’s stock valued at $310,000 after buying an additional 471 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in shares of Arch Capital Group by 4.5% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 3,083 shares of the insurance provider’s stock valued at $285,000 after buying an additional 132 shares in the last quarter. Capital Advisors Inc. OK boosted its holdings in shares of Arch Capital Group by 15.0% during the 4th quarter. Capital Advisors Inc. OK now owns 2,684 shares of the insurance provider’s stock valued at $248,000 after buying an additional 351 shares in the last quarter. Finally, Leavell Investment Management Inc. boosted its holdings in shares of Arch Capital Group by 12.6% during the 4th quarter. Leavell Investment Management Inc. now owns 6,686 shares of the insurance provider’s stock valued at $617,000 after buying an additional 748 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ACGL shares. Royal Bank of Canada dropped their target price on shares of Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Barclays lowered their price target on Arch Capital Group from $120.00 to $100.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. StockNews.com lowered Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Wells Fargo & Company lowered their price target on Arch Capital Group from $107.00 to $106.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, BMO Capital Markets lifted their price target on Arch Capital Group from $98.00 to $104.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 6th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.93.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL opened at $89.60 on Wednesday. Arch Capital Group Ltd. has a fifty-two week low of $82.75 and a fifty-two week high of $116.47. The business has a 50-day simple moving average of $93.09 and a two-hundred day simple moving average of $101.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market cap of $33.71 billion, a price-to-earnings ratio of 6.01, a price-to-earnings-growth ratio of 1.53 and a beta of 0.64.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Monday, February 10th. The insurance provider reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.36. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. During the same quarter in the prior year, the company posted $2.45 earnings per share. On average, analysts expect that Arch Capital Group Ltd. will post 8.86 earnings per share for the current year.

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.