Squarepoint Ops LLC Has $22.24 Million Position in Arch Capital Group Ltd. $ACGL

Squarepoint Ops LLC lifted its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 2,311.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 229,096 shares of the insurance provider’s stock after buying an additional 219,594 shares during the period. Squarepoint Ops LLC’s holdings in Arch Capital Group were worth $22,236,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its holdings in Arch Capital Group by 157.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider’s stock valued at $65,000 after acquiring an additional 412 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Arch Capital Group during the 2nd quarter worth approximately $253,000. CW Advisors LLC increased its position in shares of Arch Capital Group by 6.5% during the second quarter. CW Advisors LLC now owns 3,098 shares of the insurance provider’s stock valued at $282,000 after purchasing an additional 189 shares during the period. Jump Financial LLC bought a new stake in shares of Arch Capital Group during the second quarter valued at approximately $667,000. Finally, Cerity Partners LLC raised its stake in shares of Arch Capital Group by 11.6% in the second quarter. Cerity Partners LLC now owns 47,486 shares of the insurance provider’s stock valued at $4,324,000 after purchasing an additional 4,933 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Mizuho boosted their price target on shares of Arch Capital Group from $101.00 to $104.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Cantor Fitzgerald raised their price objective on shares of Arch Capital Group from $102.00 to $110.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Arch Capital Group in a research report on Thursday, August 13th. UBS Group reiterated a “buy” rating and set a $120.00 target price (up from $114.00) on shares of Arch Capital Group in a research report on Wednesday, July 8th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Arch Capital Group from $102.00 to $99.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 8th. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Arch Capital Group presently has an average rating of “Hold” and an average price target of $111.11.

Arch Capital Group Stock Performance

Arch Capital Group stock opened at $95.71 on Wednesday. The stock has a 50-day simple moving average of $100.13 and a 200 day simple moving average of $96.75. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.23. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $107.08. The stock has a market capitalization of $32.66 billion, a price-to-earnings ratio of 7.48, a P/E/G ratio of 4.83 and a beta of 0.30.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share for the quarter, topping the consensus estimate 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 net margin of 24.40% and a return on equity of 17.06%. During the same quarter in the previous year, the company posted $2.58 EPS. On average, research analysts anticipate that Arch Capital Group Ltd. will post 9.44 earnings per share for the current fiscal year.

Insider Buying and Selling

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 completion of the sale, the chief financial officer directly owned 184,826 shares of the company’s stock, valued at approximately $18,356,918.32. The trade was a 5.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.30% of the stock is currently owned by 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.