Illinois Municipal Retirement Fund reduced its position in Arch Capital Group Ltd. (NASDAQ:ACGL – Free Report) by 8.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 166,604 shares of the insurance provider’s stock after selling 15,472 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Arch Capital Group were worth $15,992,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the company. Elyxium Wealth LLC acquired a new position in Arch Capital Group in the fourth quarter valued at $27,000. WealthCollab LLC grew its holdings in Arch Capital Group by 410.3% during the 3rd quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 238 shares during the period. JPL Wealth Management LLC bought a new position in shares of Arch Capital Group in the 3rd quarter worth about $28,000. Grove Bank & Trust bought a new position in shares of Arch Capital Group in the 4th quarter worth about $30,000. Finally, Aventura Private Wealth LLC acquired a new position in shares of Arch Capital Group in the 4th quarter valued at about $30,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
ACGL has been the topic of several research analyst reports. Atlantic Securities set a $126.00 target price on Arch Capital Group in a research report on Wednesday. JPMorgan Chase & Co. dropped their price target on Arch Capital Group from $117.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. Cantor Fitzgerald restated a “neutral” rating and set a $102.00 price target (up from $100.00) on shares of Arch Capital Group in a report on Thursday, July 9th. Citigroup raised their price objective on shares of Arch Capital Group from $120.00 to $122.50 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Wells Fargo & Company lifted their price objective on shares of Arch Capital Group from $110.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $109.39.
Arch Capital Group Trading Up 1.5%
NASDAQ:ACGL opened at $100.04 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.55 and a quick ratio of 0.55. Arch Capital Group Ltd. has a one year low of $82.44 and a one year high of $105.09. The company has a market cap of $34.95 billion, a PE ratio of 7.68, a PEG ratio of 4.90 and a beta of 0.31. The firm has a 50-day moving average of $94.94 and a 200-day moving average of $95.59.
Arch Capital Group (NASDAQ:ACGL – Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share for the quarter. The business had revenue of $4.52 billion for the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. As a group, equities research analysts expect that Arch Capital Group Ltd. will post 9.35 EPS for the current fiscal year.
Insider Buying and Selling
In related news, Director Brian S. Posner sold 3,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total value of $58,980.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel Joseph Houston acquired 5,300 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were bought at an average price of $94.08 per share, for a total transaction of $498,624.00. Following the completion of the purchase, the director owned 9,915 shares in the company, valued at approximately $932,803.20. This represents a 114.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 3.30% of the stock is owned by company insiders.
Arch Capital Group Profile
Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.
Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.
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