Illinois Municipal Retirement Fund Sells 15,472 Shares of Arch Capital Group Ltd. $ACGL

Illinois Municipal Retirement Fund lessened its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 8.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 166,604 shares of the insurance provider’s stock after selling 15,472 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Arch Capital Group were worth $15,992,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Norges Bank bought a new position in Arch Capital Group in the 4th quarter valued at $463,208,000. AQR Capital Management LLC raised its stake in shares of Arch Capital Group by 184.1% during the 4th quarter. AQR Capital Management LLC now owns 2,670,628 shares of the insurance provider’s stock worth $256,167,000 after purchasing an additional 1,730,487 shares during the period. Fiduciary Management Inc. WI purchased a new position in shares of Arch Capital Group in the 4th quarter worth about $106,683,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Arch Capital Group by 572.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,268,601 shares of the insurance provider’s stock worth $121,684,000 after buying an additional 1,080,049 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Arch Capital Group by 289.1% during the second quarter. Ameriprise Financial Inc. now owns 1,368,648 shares of the insurance provider’s stock valued at $124,615,000 after buying an additional 1,016,919 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Arch Capital Group Price Performance

ACGL opened at $100.04 on Friday. The firm has a 50-day moving average price of $94.94 and a 200-day moving average price of $95.59. Arch Capital Group Ltd. has a twelve month low of $82.44 and a twelve month high of $105.09. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $34.95 billion, a price-to-earnings ratio of 7.68, a PEG ratio of 4.90 and a beta of 0.31.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $2.50 EPS for the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. The company had revenue of $4.52 billion during the quarter. Equities analysts expect that Arch Capital Group Ltd. will post 9.35 EPS for the current year.

Insiders Place Their Bets

In related news, Director Brian S. Posner sold 3,000 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total transaction of $58,980.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Daniel Joseph Houston bought 5,300 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was bought at an average price of $94.08 per share, with a total value of $498,624.00. Following the purchase, the director owned 9,915 shares in the company, valued at $932,803.20. This trade represents a 114.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on ACGL shares. Atlantic Securities set a $126.00 price objective on shares of Arch Capital Group in a research report on Wednesday. UBS Group reissued a “buy” rating and set a $120.00 target price (up from $114.00) on shares of Arch Capital Group in a research report on Wednesday, July 8th. Wells Fargo & Company raised their price target on shares of Arch Capital Group from $110.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Weiss Ratings cut shares of Arch Capital Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Finally, Citigroup upped their price objective on Arch Capital Group from $120.00 to $122.50 and gave the company a “buy” rating in a research note on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $109.39.

About Arch Capital Group

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.