Benson Investment Management Company Inc. Has $4.45 Million Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Benson Investment Management Company Inc. raised its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 2.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,140 shares of the insurance provider’s stock after buying an additional 1,048 shares during the quarter. Benson Investment Management Company Inc.’s holdings in Arch Capital Group were worth $4,450,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Gunderson Capital Management Inc. increased its holdings in shares of Arch Capital Group by 5.5% during the first quarter. Gunderson Capital Management Inc. now owns 33,572 shares of the insurance provider’s stock worth $3,103,000 after purchasing an additional 1,736 shares during the period. Park Avenue Securities LLC increased its stake in Arch Capital Group by 5.5% during the 1st quarter. Park Avenue Securities LLC now owns 25,707 shares of the insurance provider’s stock worth $2,376,000 after acquiring an additional 1,339 shares during the period. Wedmont Private Capital raised its holdings in Arch Capital Group by 6.1% in the 1st quarter. Wedmont Private Capital now owns 4,194 shares of the insurance provider’s stock valued at $383,000 after acquiring an additional 240 shares in the last quarter. Banque Cantonale Vaudoise lifted its position in shares of Arch Capital Group by 38.4% during the 1st quarter. Banque Cantonale Vaudoise now owns 12,873 shares of the insurance provider’s stock valued at $1,190,000 after acquiring an additional 3,574 shares during the period. Finally, Alaska Permanent Fund Corp grew its holdings in shares of Arch Capital Group by 42.2% during the 1st quarter. Alaska Permanent Fund Corp now owns 54,578 shares of the insurance provider’s stock worth $5,045,000 after purchasing an additional 16,208 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In other news, CEO David Gansberg sold 10,000 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $96.64, for a total value of $966,400.00. Following the completion of the sale, the chief executive officer now owns 228,035 shares of the company’s stock, valued at $22,037,302.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Arch Capital Group from $109.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. increased their price target on shares of Arch Capital Group from $88.00 to $92.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Roth Mkm restated a “buy” rating and set a $110.00 price objective on shares of Arch Capital Group in a research report on Tuesday, April 30th. JMP Securities raised their target price on Arch Capital Group from $100.00 to $110.00 and gave the company a “market outperform” rating in a report on Tuesday, April 30th. Finally, Morgan Stanley boosted their price target on Arch Capital Group from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $101.33.

Arch Capital Group Trading Down 0.5 %

Shares of Arch Capital Group stock traded down $0.56 on Friday, hitting $101.89. The stock had a trading volume of 4,271,267 shares, compared to its average volume of 1,704,293. The stock has a 50 day moving average of $98.05 and a 200 day moving average of $88.64. The firm has a market capitalization of $38.26 billion, a P/E ratio of 8.04, a PEG ratio of 1.76 and a beta of 0.60. Arch Capital Group Ltd. has a twelve month low of $70.53 and a twelve month high of $103.79. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 0.59.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.39. Arch Capital Group had a net margin of 33.65% and a return on equity of 21.85%. The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the company posted $1.73 EPS. The company’s revenue was up 19.3% on a year-over-year basis. Sell-side analysts expect that Arch Capital Group Ltd. will post 8.55 earnings per share for the current fiscal year.

About Arch Capital Group

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.