National Pension Service acquired a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 574,466 shares of the insurance provider's stock, valued at approximately $64,271,000. National Pension Service owned about 0.15% of Arch Capital Group at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Farther Finance Advisors LLC increased its holdings in shares of Arch Capital Group by 12.8% in the third quarter. Farther Finance Advisors LLC now owns 890 shares of the insurance provider's stock valued at $100,000 after purchasing an additional 101 shares during the period. Fiduciary Financial Group LLC increased its stake in Arch Capital Group by 2.8% in the 3rd quarter. Fiduciary Financial Group LLC now owns 3,779 shares of the insurance provider's stock valued at $415,000 after buying an additional 103 shares during the period. Baldwin Brothers LLC MA raised its position in Arch Capital Group by 50.7% during the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider's stock worth $31,000 after buying an additional 104 shares during the last quarter. Fidelis Capital Partners LLC boosted its holdings in shares of Arch Capital Group by 3.1% in the second quarter. Fidelis Capital Partners LLC now owns 3,553 shares of the insurance provider's stock valued at $344,000 after acquiring an additional 106 shares in the last quarter. Finally, KG&L Capital Management LLC increased its stake in shares of Arch Capital Group by 1.1% during the third quarter. KG&L Capital Management LLC now owns 10,854 shares of the insurance provider's stock worth $1,214,000 after acquiring an additional 115 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.
Arch Capital Group Price Performance
Shares of NASDAQ:ACGL traded up $5.20 on Wednesday, hitting $101.70. The company had a trading volume of 3,283,055 shares, compared to its average volume of 1,661,216. The company has a market cap of $38.25 billion, a PE ratio of 6.76, a PEG ratio of 1.36 and a beta of 0.61. The business has a 50 day moving average of $109.86 and a 200 day moving average of $102.92. Arch Capital Group Ltd. has a 52-week low of $72.85 and a 52-week high of $116.47. The company has a current ratio of 0.58, a quick ratio of 0.60 and a debt-to-equity ratio of 0.17.
Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.05. The company had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.05 billion. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. During the same period last year, the company earned $2.31 EPS. As a group, equities analysts anticipate that Arch Capital Group Ltd. will post 9.09 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, CFO Francois Morin sold 11,460 shares of the company's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the transaction, the chief financial officer now directly owns 221,779 shares in the company, valued at approximately $22,723,476.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.00% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. BMO Capital Markets lifted their price objective on Arch Capital Group from $98.00 to $104.00 and gave the company a "market perform" rating in a report on Wednesday. Evercore ISI lifted their price target on Arch Capital Group from $104.00 to $107.00 and gave the company an "in-line" rating in a research note on Wednesday, October 9th. Wells Fargo & Company cut their price objective on Arch Capital Group from $126.00 to $118.00 and set an "overweight" rating for the company in a research report on Monday. TD Cowen raised their target price on Arch Capital Group from $116.00 to $138.00 and gave the company a "buy" rating in a report on Friday, September 20th. Finally, Bank of America upped their price target on shares of Arch Capital Group from $119.00 to $135.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $118.88.
Read Our Latest Report on ACGL
Arch Capital Group Company Profile
(
Free Report)
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.
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