Alaska Permanent Fund Corp Acquires 6,994 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Alaska Permanent Fund Corp raised its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 22.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,370 shares of the insurance provider’s stock after buying an additional 6,994 shares during the period. Alaska Permanent Fund Corp’s holdings in Arch Capital Group were worth $2,850,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Envestnet Asset Management Inc. lifted its holdings in Arch Capital Group by 112.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,620,807 shares of the insurance provider’s stock worth $208,905,000 after purchasing an additional 1,387,072 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Arch Capital Group by 597.9% during the 3rd quarter. Hsbc Holdings PLC now owns 1,419,944 shares of the insurance provider’s stock worth $113,516,000 after purchasing an additional 1,216,498 shares during the last quarter. Assetmark Inc. lifted its holdings in Arch Capital Group by 316.7% during the 3rd quarter. Assetmark Inc. now owns 977,982 shares of the insurance provider’s stock worth $77,955,000 after purchasing an additional 743,303 shares during the last quarter. Invesco Ltd. lifted its holdings in Arch Capital Group by 16.3% during the 3rd quarter. Invesco Ltd. now owns 3,385,665 shares of the insurance provider’s stock worth $269,871,000 after purchasing an additional 475,464 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Arch Capital Group during the 4th quarter worth approximately $295,440,000. Institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on Arch Capital Group from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. raised their price objective on Arch Capital Group from $88.00 to $92.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Evercore ISI raised their price objective on Arch Capital Group from $92.00 to $100.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. StockNews.com lowered Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Finally, TD Cowen started coverage on Arch Capital Group in a research note on Wednesday, January 10th. They set an “outperform” rating and a $96.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $96.23.

Arch Capital Group Price Performance

ACGL stock traded down $0.59 during midday trading on Wednesday, reaching $93.19. 1,257,354 shares of the stock were exchanged, compared to its average volume of 1,705,126. The stock has a market capitalization of $34.96 billion, a PE ratio of 8.07, a P/E/G ratio of 1.17 and a beta of 0.57. Arch Capital Group Ltd. has a 52 week low of $69.05 and a 52 week high of $95.01. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.57 and a quick ratio of 0.57. The company has a fifty day moving average price of $89.96 and a 200 day moving average price of $84.22.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Thursday, February 15th. The insurance provider reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.55. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.67 billion. Arch Capital Group had a return on equity of 21.94% and a net margin of 32.59%. During the same quarter in the previous year, the company posted $2.14 EPS. As a group, analysts expect that Arch Capital Group Ltd. will post 8.03 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Francois Morin sold 25,689 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $87.47, for a total transaction of $2,247,016.83. Following the sale, the chief financial officer now owns 221,779 shares in the company, valued at approximately $19,399,009.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Arch Capital Group news, insider Nicolas Papadopoulo sold 60,000 shares of Arch Capital Group stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $87.52, for a total transaction of $5,251,200.00. Following the transaction, the insider now directly owns 651,931 shares of the company’s stock, valued at approximately $57,057,001.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Francois Morin sold 25,689 shares of Arch Capital Group stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $87.47, for a total value of $2,247,016.83. Following the transaction, the chief financial officer now directly owns 221,779 shares in the company, valued at $19,399,009.13. The disclosure for this sale can be found here. Insiders have sold 135,689 shares of company stock worth $11,872,217 in the last 90 days. Insiders own 4.00% of the company’s stock.

Arch Capital Group Company 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.