Illinois Municipal Retirement Fund Buys 18,613 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Illinois Municipal Retirement Fund raised its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 15.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 137,981 shares of the insurance provider's stock after acquiring an additional 18,613 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Arch Capital Group were worth $13,921,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. bought a new stake in shares of Arch Capital Group in the second quarter valued at about $30,000. Baldwin Brothers LLC MA boosted its holdings in Arch Capital Group by 50.7% in the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider's stock valued at $31,000 after purchasing an additional 104 shares during the period. Rothschild Investment LLC acquired a new position in shares of Arch Capital Group during the 2nd quarter worth approximately $35,000. LRI Investments LLC bought a new position in shares of Arch Capital Group during the first quarter worth approximately $40,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of Arch Capital Group in the fourth quarter valued at approximately $33,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada increased their price target on Arch Capital Group from $108.00 to $112.00 and gave the stock an "outperform" rating in a research report on Thursday, August 1st. Barclays assumed coverage on Arch Capital Group in a research report on Wednesday. They issued an "equal weight" rating and a $120.00 price target on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on Arch Capital Group from $110.00 to $120.00 and gave the company a "buy" rating in a research note on Monday, July 1st. JMP Securities increased their price objective on shares of Arch Capital Group from $110.00 to $115.00 and gave the stock a "market outperform" rating in a research note on Wednesday, July 31st. Finally, Evercore ISI boosted their target price on shares of Arch Capital Group from $100.00 to $104.00 and gave the company an "in-line" rating in a research report on Wednesday, July 31st. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Arch Capital Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.44.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the business's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the sale, the chief financial officer now directly owns 221,779 shares of the company's stock, valued at approximately $22,723,476.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.20% of the stock is owned by company insiders.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL traded down $1.74 during trading on Friday, hitting $110.45. 1,211,501 shares of the company were exchanged, compared to its average volume of 1,627,596. Arch Capital Group Ltd. has a 1-year low of $72.85 and a 1-year high of $114.65. The company has a market capitalization of $41.47 billion, a P/E ratio of 8.72, a price-to-earnings-growth ratio of 2.05 and a beta of 0.60. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16. The business's 50 day moving average is $101.36 and its 200-day moving average is $97.22.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.21 by $0.36. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The business had revenue of $3.78 billion during the quarter, compared to analysts' expectations of $3.89 billion. During the same quarter in the prior year, the firm earned $1.92 EPS. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. Equities analysts forecast that Arch Capital Group Ltd. will post 9.01 earnings per share for the current year.

Arch Capital Group Profile

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.