Is Arch Capital Group Ltd. (ACGL) Well-Positioned to Benefit From Positive Dynamics?

Madison Investments, an investment advisor, released its “Madison Mid Cap Fund” third-quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund (Class Y) returned -1.8% compared to a -4.7% decline for the Russell Midcap Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Madison Mid Cap Fund highlighted stocks like Arch Capital Group Ltd. (NASDAQ:ACGL) in the Q3 2023 investor letter. Headquartered in Pembroke, Bermuda, Arch Capital Group Ltd. (NASDAQ:ACGL) is an insurance company. On October 16, 2023, Arch Capital Group Ltd. (NASDAQ:ACGL) stock closed at $85.70 per share. One-month return of Arch Capital Group Ltd. (NASDAQ:ACGL) was 5.54%, and its shares gained 76.19% of their value over the last 52 weeks. Arch Capital Group Ltd. (NASDAQ:ACGL) has a market capitalization of $31.962 billion.

Madison Mid Cap Fund made the following comment about Arch Capital Group Ltd. (NASDAQ:ACGL) in its Q3 2023 investor letter:

“In the third quarter, the top five contributors were Arch Capital Group Ltd. (NASDAQ:ACGL), Arista Networks, Liberty Broadband, CDW, and Progressive. Arch Capital is a multi-line insurance company with operations across property and casualty, reinsurance, and mortgage insurance. Their culture of prudent risk management has enabled them to benefit from attractive market conditions in the P&C and reinsurance markets, where pricing has firmed up considerably over the last couple of years. We believe the attractive market conditions will continue for a couple more years, and Arch is very well positioned to benefit from these dynamics.”

A close-up image of an insurance policy with hands standing firmly on top, conveying security. Editorial photo for a financial news article. 8k. –ar 16:9

Arch Capital Group Ltd. (NASDAQ:ACGL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 33 hedge fund portfolios held Arch Capital Group Ltd. (NASDAQ:ACGL) at the end of second quarter which was 28 in the previous quarter.

We discussed Arch Capital Group Ltd. (NASDAQ:ACGL) in another article and shared Baron Partners Fund’s views on the company. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.