Great Lakes Advisors LLC Takes $27.46 Million Position in Arch Capital Group Ltd. $ACGL

Great Lakes Advisors LLC bought a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) during the second quarter, Holdings Channel reports. The firm bought 282,932 shares of the insurance provider’s stock, valued at approximately $27,461,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ACGL. Elyxium Wealth LLC bought a new stake in Arch Capital Group in the fourth quarter worth about $27,000. WealthCollab LLC grew its position in shares of Arch Capital Group by 410.3% during the 3rd quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 238 shares during the period. Torren Management LLC grew its position in shares of Arch Capital Group by 66.9% during the 2nd quarter. Torren Management LLC now owns 292 shares of the insurance provider’s stock valued at $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 during the 3rd quarter valued at approximately $28,000. Finally, TD Waterhouse Canada Inc. increased its stake in shares of Arch Capital Group by 72.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 323 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 136 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ACGL. UBS Group reaffirmed a “buy” rating and issued a $120.00 price target (up from $114.00) on shares of Arch Capital Group in a report on Wednesday, July 8th. Mizuho raised their target price on Arch Capital Group from $101.00 to $104.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Atlantic Securities set a $126.00 target price on Arch Capital Group in a research note on Wednesday, July 15th. Cantor Fitzgerald upped their price target on Arch Capital Group from $102.00 to $110.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Finally, Citigroup reiterated a “market outperform” rating on shares of Arch Capital Group in a research note on Wednesday, July 29th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $111.11.

Arch Capital Group Stock Performance

NASDAQ ACGL opened at $98.91 on Wednesday. The firm has a market cap of $33.75 billion, a P/E ratio of 7.73, a price-to-earnings-growth ratio of 10.34 and a beta of 0.31. 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 company’s 50 day moving average is $98.46 and its 200-day moving average is $96.68. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $107.08.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $2.56 EPS for the quarter, topping the consensus estimate 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 company had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period last year, the firm earned $2.58 EPS. Sell-side analysts predict that Arch Capital Group Ltd. will post 9.45 earnings per share for the current year.

Insider Activity

In other news, Director Brian S. Posner sold 3,000 shares of the firm’s 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. 3.30% of the stock is currently owned by corporate insiders.

About Arch Capital Group

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.