Fintel reports that BlackRock has filed a 13G form with the SEC disclosing ownership of 25.52MM shares of Arch Capital Group Ltd. (ACGL). This represents 6.9% of the company.
In their previous filing dated December 8, 2020 they reported 19.49MM shares and 4.80% of the company, an increase in shares of 30.99% and an increase in total ownership of 2.10% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 11.58% Upside
As of February 1, 2023, the average one-year price target for Arch Capital Group is $68.45. The forecasts range from a low of $55.55 to a high of $78.75. The average price target represents an increase of 11.58% from its latest reported closing price of $61.35.
The projected annual revenue for Arch Capital Group is $11,833MM, an increase of 33.62%. The projected annual EPS is $5.59, an increase of 73.35%.
Fund Sentiment
There are 1058 funds or institutions reporting positions in Arch Capital Group. This is an increase of 55 owner(s) or 5.48%.
Average portfolio weight of all funds dedicated to US:ACGL is 0.4974%, an increase of 5.0086%. Total shares owned by institutions increased in the last three months by 0.56% to 437,072K shares.
What are large shareholders doing?
Artisan Partners Limited Partnership holds 35,253,620 shares representing 9.60% ownership of the company. In it's prior filing, the firm reported owning 34,906,858 shares, representing an increase of 0.98%. The firm increased its portfolio allocation in ACGL by 5.20% over the last quarter.
ARTKX - Artisan International Value Fund Investor Shares holds 23,072,732 shares representing 6.28% ownership of the company. In it's prior filing, the firm reported owning 22,578,430 shares, representing an increase of 2.14%. The firm increased its portfolio allocation in ACGL by 13.15% over the last quarter.
Bamco holds 21,493,024 shares representing 5.85% ownership of the company. In it's prior filing, the firm reported owning 21,491,448 shares, representing an increase of 0.01%. The firm increased its portfolio allocation in ACGL by 0.71% over the last quarter.
Capital World Investors holds 19,211,762 shares representing 5.23% ownership of the company. In it's prior filing, the firm reported owning 19,227,227 shares, representing a decrease of 0.08%. The firm increased its portfolio allocation in ACGL by 5.71% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 10,478,161 shares representing 2.85% ownership of the company. In it's prior filing, the firm reported owning 10,501,777 shares, representing a decrease of 0.23%. The firm increased its portfolio allocation in ACGL by 4.12% over the last quarter.
Arch Capital Group Background Information
(This description is provided by the company.)
Arch Capital Group Ltd., a Bermuda-based company with approximately $15.2 billion in capital at Sept. 30, 2020, provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
