Arch Capital Group Ltd. $ACGL Shares Bought by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd boosted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 8.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 76,131 shares of the insurance provider’s stock after purchasing an additional 5,787 shares during the period. AustralianSuper Pty Ltd’s holdings in Arch Capital Group were worth $6,907,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Quent Capital LLC purchased a new stake in shares of Arch Capital Group during the third quarter valued at $37,000. Richardson Financial Services Inc. lifted its position in Arch Capital Group by 63.3% during the 3rd quarter. Richardson Financial Services Inc. now owns 418 shares of the insurance provider’s stock worth $38,000 after acquiring an additional 162 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in Arch Capital Group by 3,450.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 414 shares during the last quarter. TD Waterhouse Canada Inc. grew its stake in Arch Capital Group by 31.4% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 469 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 112 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new position in shares of Arch Capital Group in the third quarter valued at about $54,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity

In other news, CFO Francois Morin sold 8,000 shares of the stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $94.62, for a total value of $756,960.00. Following the completion of the sale, the chief financial officer owned 266,681 shares of the company’s stock, valued at $25,233,356.22. This represents a 2.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John M. Pasquesi sold 203,866 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $93.90, for a total transaction of $19,143,017.40. Following the sale, the insider owned 351,356 shares of the company’s stock, valued at $32,992,328.40. This represents a 36.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 220,666 shares of company stock worth $20,728,673 over the last quarter. 4.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. The Goldman Sachs Group reissued a “sell” rating and set a $93.00 target price (up previously from $84.00) on shares of Arch Capital Group in a report on Wednesday, January 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $97.00 price objective (up from $93.00) on shares of Arch Capital Group in a research report on Wednesday, January 14th. Barclays set a $104.00 target price on shares of Arch Capital Group and gave the stock an “equal weight” rating in a research note on Thursday, January 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Arch Capital Group in a research report on Wednesday, January 21st. Finally, Evercore ISI set a $100.00 price target on Arch Capital Group and gave the stock an “in-line” rating in a research note on Wednesday, January 7th. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $107.53.

Arch Capital Group Stock Up 1.6%

Shares of ACGL opened at $95.72 on Friday. Arch Capital Group Ltd. has a 52-week low of $82.44 and a 52-week high of $97.60. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $93.88 and a two-hundred day simple moving average of $91.11. The company has a market capitalization of $34.71 billion, a PE ratio of 8.95, a price-to-earnings-growth ratio of 1.98 and a beta of 0.45.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $1.01. Arch Capital Group had a net margin of 20.96% and a return on equity of 16.38%. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the prior year, the firm posted $1.99 earnings per share. As a group, equities analysts forecast that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Arch Capital Group Profile

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.