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Arch Capital Group Ltd. (ACGL)

Arch Capital Group Ltd. (ACGL)

With its subsidiaries, Arch Capital Group Ltd. (ACGL) imparts insurance, additional coverage, and lease insurance products globally. The company was founded in 1995. Arch Capital stock has offered investors 35.29% in the past 12 months.

On January 19, Matthew Carletti, an analyst at JMP Securities, initiated coverage on Arch Capital. He rated the stock as “Market Outperform” and set a price target at $43.00. On March 18, Arch Capital Group entered into a share purchase agreement with the Westpac Group to obtain Westpac Lenders Mortgage Insurance Limited. As a part of the agreement, Westpac Lenders Mortgage Insurance Limited will become Westpac’s provider of new loan originations for ten years.

On April 27, Arch Capital Group Ltd. announced its first-quarter 2021 revenue of $2.5 billion, beating the estimates by $230 million. The company also declared its earnings per share of $0.59, beating the market predictions by $0.15.

King Street Capital holds 1.24 million shares in the firm worth $47.58 million, representing 3.55% of its investment portfolio. King Street Capital has increased its Arch Capital stake by 40% in the first quarter of 2021.

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Gordon Fox is the editor of investinglate.com and writes about Investments, Savings, and how to make the most of your money