Public Employees Retirement System of Ohio acquired a new stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 122,747 shares of the insurance provider’s stock, valued at approximately $11,914,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Elyxium Wealth LLC purchased a new position in Arch Capital Group in the 4th quarter valued at approximately $27,000. WealthCollab LLC lifted its position in shares of Arch Capital Group by 410.3% during the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 238 shares in the last quarter. Torren Management LLC boosted its holdings in shares of Arch Capital Group by 66.9% in the second quarter. Torren Management LLC now owns 292 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 117 shares during the period. JPL Wealth Management LLC bought a new position in shares of Arch Capital Group in the third quarter worth $28,000. Finally, Zions Bancorporation National Association UT grew its position in shares of Arch Capital Group by 390.9% in the fourth quarter. Zions Bancorporation National Association UT now owns 324 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 258 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on ACGL. UBS Group reissued a “buy” rating and set a $120.00 price objective (up from $114.00) on shares of Arch Capital Group in a report on Wednesday, July 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Arch Capital Group in a research report on Thursday, August 13th. Atlantic Securities set a $126.00 price target on shares of Arch Capital Group in a report on Wednesday, July 15th. Wells Fargo & Company raised their price objective on shares of Arch Capital Group from $114.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Finally, Cantor Fitzgerald boosted their price objective on shares of Arch Capital Group from $102.00 to $110.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Seven 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $111.11.
Insider Activity at Arch Capital Group
In other Arch Capital Group news, CFO Francois Morin sold 11,010 shares of Arch Capital Group stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $99.32, for a total transaction of $1,093,513.20. Following the transaction, the chief financial officer directly owned 184,826 shares of the company’s stock, valued at approximately $18,356,918.32. This trade represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian S. Posner sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total transaction of $58,980.00. Additional details regarding this sale are available in the official SEC disclosure. 3.30% of the stock is owned by corporate insiders.
Arch Capital Group Stock Performance
NASDAQ ACGL opened at $98.84 on Monday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.23. The stock’s 50-day simple moving average is $99.75 and its two-hundred day simple moving average is $96.77. Arch Capital Group Ltd. has a twelve month low of $82.44 and a twelve month high of $107.08. The company has a market capitalization of $33.73 billion, a price-to-earnings ratio of 7.73, a PEG ratio of 4.87 and a beta of 0.31.
Arch Capital Group (NASDAQ:ACGL – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.09. The firm had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Arch Capital Group had a return on equity of 17.06% and a net margin of 24.40%.During the same period in the prior year, the business earned $2.58 EPS. Research analysts forecast that Arch Capital Group Ltd. will post 9.44 EPS for the current fiscal year.
Arch Capital Group Company 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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