7 Best Halal Stocks To Buy Now (Debt Free)

1. Arch Capital Group Ltd. (NASDAQ:ACGL)

Number of Hedge Fund Holders: 45 

D/E Ratio: 0.14 

Arch Capital Group Ltd. (NASDAQ:ACGL) is a leading Bermuda-based insurance and reinsurance company with a strong financial position and debt-free balance sheet which places it first among the best halal stocks to buy now (debt free). Arch Capital Group has an average 12-month price target of $108.58, with a high of $119.00 and a low of $92.00, based on the projections of 12 Wall Street analysts over the last three months. From the current price of $99.58, this implies a 9.04% gain.

In Q1 2024, 45 hedge funds held positions in Arch Capital Group Ltd. (NASDAQ:ACGL) stock. The hedge fund with the largest holding was Egerton Capital Limited, which held 3.4 million shares worth $314.3 million, comprising 3.03% of their portfolio. The second-largest hedge fund holder was Polar Capital, holding 3.1 million shares worth $287.3 million, making up 1.5% of their portfolio.

In Q1 2024, Arch Capital Group Ltd. (NASDAQ:ACGL)’s gross premiums written stood at $5.93 billion, up 24.1% year-over-year, and net premiums written were $4.09 billion, up 19.3% year-over-year. In the same period, net premiums earned were $3.42 billion, up 18.7% year-over-year.

Overall, GOOGL ranks first among the 12 best quantum computing stocks to buy now. You can visit 12 Best Quantum Computing Stocks To Buy to see the other quantum computing stocks that are on the hedge fund radar. While we acknowledge the potential of quantum computing companies, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.”

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