Arch Capital Group Ltd. $ACGL Shares Purchased by National Pension Service

National Pension Service boosted its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 3.5% during the second quarter, Holdings Channel reports. The institutional investor owned 719,128 shares of the insurance provider’s stock after buying an additional 24,546 shares during the period. National Pension Service’s holdings in Arch Capital Group were worth $69,799,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its holdings in shares of Arch Capital Group by 9,977.0% during the 2nd quarter. California State Teachers Retirement System now owns 47,698,002 shares of the insurance provider’s stock worth $4,629,568,000 after acquiring an additional 47,224,669 shares during the period. Norges Bank purchased a new position in Arch Capital Group during the fourth quarter worth approximately $463,208,000. Madison Asset Management LLC acquired a new position in shares of Arch Capital Group in the 2nd quarter valued at $368,808,000. First Trust Advisors LP grew its stake in shares of Arch Capital Group by 319.5% during the 1st quarter. First Trust Advisors LP now owns 2,626,148 shares of the insurance provider’s stock valued at $252,084,000 after buying an additional 2,000,162 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Arch Capital Group by 184.1% during the 4th quarter. AQR Capital Management LLC now owns 2,670,628 shares of the insurance provider’s stock valued at $256,167,000 after buying an additional 1,730,487 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on ACGL shares. JPMorgan Chase & Co. increased their target price on Arch Capital Group from $116.00 to $118.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Citigroup reissued a “market outperform” rating on shares of Arch Capital Group in a research report on Wednesday, July 29th. Royal Bank Of Canada restated an “outperform” rating and set a $120.00 price target (up from $115.00) on shares of Arch Capital Group in a research note on Thursday, July 30th. Wells Fargo & Company raised their price objective on Arch Capital Group from $114.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Finally, Morgan Stanley lifted their price objective on Arch Capital Group from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Seven investment 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $111.11.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $96.09 on Friday. The company’s fifty day simple moving average is $99.84 and its 200-day simple moving average is $96.71. Arch Capital Group Ltd. has a 52 week low of $82.44 and a 52 week high of $107.08. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.23. The company has a market cap of $32.79 billion, a PE ratio of 7.51, a P/E/G ratio of 4.74 and a beta of 0.30.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.09. Arch Capital Group had a net margin of 24.40% and a return on equity of 17.06%. The firm had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same period in the prior year, the company earned $2.58 EPS. As a group, equities research analysts anticipate that Arch Capital Group Ltd. will post 9.44 EPS for the current year.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 11,010 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $99.32, for a total transaction of $1,093,513.20. Following the transaction, the chief financial officer owned 184,826 shares in the company, valued at $18,356,918.32. The trade was a 5.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.30% of the stock is currently owned by corporate insiders.

About Arch Capital Group

Arch Capital Group Ltd. is a Bermuda-based insurance and financial services company that operates through a global network of subsidiaries. Listed on the Nasdaq under the symbol ACGL, the company provides specialty insurance, reinsurance and mortgage insurance products to businesses, institutions and individuals.

Arch’s insurance operations offer coverage across property, casualty and specialty lines, including professional liability, marine, aviation, energy, construction, accident and health, and other complex or customized risks.