61,048 Shares of Arch Capital Group Ltd. $ACGL Purchased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. purchased a new position in Arch Capital Group Ltd. (NASDAQ:ACGL) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 61,048 shares of the insurance provider’s stock, valued at approximately $5,807,000.

Other institutional investors have also recently made changes to their positions in the company. Madison Asset Management LLC purchased a new position in shares of Arch Capital Group during the 2nd quarter valued at about $368,808,000. First Trust Advisors LP increased its holdings in Arch Capital Group by 319.5% in the 1st quarter. First Trust Advisors LP now owns 2,626,148 shares of the insurance provider’s stock worth $252,084,000 after acquiring an additional 2,000,162 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Arch Capital Group by 230.0% in the 1st quarter. Hsbc Holdings PLC now owns 1,286,178 shares of the insurance provider’s stock worth $123,354,000 after acquiring an additional 896,480 shares in the last quarter. Davis Asset Management L.P. purchased a new stake in Arch Capital Group in the 2nd quarter worth approximately $63,089,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Arch Capital Group by 50.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,910,063 shares of the insurance provider’s stock worth $183,347,000 after acquiring an additional 641,462 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on ACGL. Keefe, Bruyette & Woods restated a “market perform” rating and set a $106.00 target price (up from $95.00) on shares of Arch Capital Group in a research note on Tuesday. Mizuho set a $100.00 price target on shares of Arch Capital Group and gave the stock a “neutral” rating in a research report on Wednesday, September 16th. BMO Capital Markets increased their price objective on shares of Arch Capital Group from $95.00 to $102.00 in a research note on Wednesday, August 5th. Atlantic Securities set a $126.00 price target on Arch Capital Group in a report on Wednesday, July 15th. Finally, Bank of America lifted their price objective on shares of Arch Capital Group from $129.00 to $131.00 and gave the company a “buy” rating in a research report on Monday, October 12th. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $111.65.

Insider Activity at Arch Capital Group

In related news, CFO Francois Morin sold 11,010 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 184,826 shares of the company’s stock, valued at approximately $18,356,918.32. This represents a 5.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.30% of the company’s stock.

Arch Capital Group Stock Down 0.1%

Shares of ACGL stock opened at $110.57 on Friday. The stock has a market cap of $37.73 billion, a P/E ratio of 9.04, a PEG ratio of 3.65 and a beta of 0.22. Arch Capital Group Ltd. has a 52 week low of $87.05 and a 52 week high of $113.63. The company has a quick ratio of 0.57, a current ratio of 0.56 and a debt-to-equity ratio of 0.21. The company’s fifty day simple moving average is $98.67 and its two-hundred day simple moving average is $97.14.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Tuesday, October 27th. The insurance provider reported $2.67 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.36. The firm had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.06 billion. Arch Capital Group had a return on equity of 16.62% and a net margin of 23.31%. During the same quarter last year, the business posted $2.77 earnings per share. Analysts predict that Arch Capital Group Ltd. will post 10.12 EPS for the current fiscal year.

Arch Capital Group Company Profile

Arch Capital Group Ltd. is a Bermuda-based insurance, reinsurance and mortgage insurance company whose shares trade on the Nasdaq under the symbol ACGL. The company was established in 1995 and has developed into a global provider of specialty risk-management products and services.

Through its insurance operations, Arch offers property, casualty, specialty, and accident and health coverage to businesses and other policyholders. Its reinsurance operations provide coverage and risk-transfer solutions to insurance companies across a range of property and casualty lines.