New York State Common Retirement Fund Buys 191,002 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

New York State Common Retirement Fund raised its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 83.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 420,252 shares of the insurance provider's stock after acquiring an additional 191,002 shares during the quarter. New York State Common Retirement Fund owned approximately 0.11% of Arch Capital Group worth $38,810,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ACGL. Quantbot Technologies LP acquired a new stake in shares of Arch Capital Group during the third quarter valued at about $25,000. Ashton Thomas Securities LLC bought a new position in Arch Capital Group in the 3rd quarter valued at approximately $50,000. Golden State Wealth Management LLC acquired a new stake in Arch Capital Group during the 4th quarter worth approximately $42,000. Y.D. More Investments Ltd grew its holdings in Arch Capital Group by 125.6% during the 4th quarter. Y.D. More Investments Ltd now owns 467 shares of the insurance provider's stock worth $43,000 after acquiring an additional 260 shares during the last quarter. Finally, UMB Bank n.a. increased its position in Arch Capital Group by 97.0% in the 4th quarter. UMB Bank n.a. now owns 841 shares of the insurance provider's stock valued at $78,000 after acquiring an additional 414 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on ACGL shares. UBS Group reduced their price objective on shares of Arch Capital Group from $131.00 to $127.00 and set a "buy" rating on the stock in a research note on Tuesday. Royal Bank of Canada reduced their price target on Arch Capital Group from $125.00 to $110.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 12th. JPMorgan Chase & Co. lowered their price objective on Arch Capital Group from $110.00 to $106.00 and set a "neutral" rating for the company in a research report on Friday, January 3rd. BMO Capital Markets lifted their price objective on Arch Capital Group from $98.00 to $104.00 and gave the stock a "market perform" rating in a research note on Wednesday, November 6th. Finally, JMP Securities reissued a "market outperform" rating and set a $125.00 target price on shares of Arch Capital Group in a research report on Tuesday, February 11th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Arch Capital Group has a consensus rating of "Moderate Buy" and a consensus target price of $117.19.

Arch Capital Group Stock Down 1.0 %

ACGL traded down $0.92 during mid-day trading on Friday, reaching $88.13. 1,724,179 shares of the stock were exchanged, compared to its average volume of 1,805,560. The company has a 50 day moving average price of $91.96 and a two-hundred day moving average price of $100.63. The stock has a market capitalization of $33.16 billion, a PE ratio of 7.87, a price-to-earnings-growth ratio of 2.34 and a beta of 0.64. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.58 and a current ratio of 0.54. Arch Capital Group Ltd. has a 1 year low of $84.00 and a 1 year high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The insurance provider reported $2.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.90 by $0.36. Arch Capital Group had a net margin of 24.73% and a return on equity of 17.96%. During the same period in the prior year, the business posted $2.45 earnings per share. As a group, research analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

About Arch Capital Group

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.