Alaska Permanent Fund Corp Raises Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

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

Other hedge funds and other institutional investors have also modified their holdings of the company. Northern Trust Corp boosted its position in shares of Arch Capital Group by 9.2% in the third quarter. Northern Trust Corp now owns 4,652,983 shares of the insurance provider’s stock worth $370,889,000 after acquiring an additional 390,362 shares during the last quarter. Invesco Ltd. grew its stake in shares of Arch Capital Group by 16.3% during the third quarter. Invesco Ltd. now owns 3,385,665 shares of the insurance provider’s stock valued at $269,871,000 after acquiring an additional 475,464 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Arch Capital Group by 3.4% during the third quarter. Royal Bank of Canada now owns 3,151,688 shares of the insurance provider’s stock valued at $251,222,000 after acquiring an additional 104,299 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Arch Capital Group by 112.4% during the third quarter. Envestnet Asset Management Inc. now owns 2,620,807 shares of the insurance provider’s stock valued at $208,905,000 after acquiring an additional 1,387,072 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Arch Capital Group by 18.8% during the third quarter. Barclays PLC now owns 2,240,381 shares of the insurance provider’s stock worth $178,581,000 after purchasing an additional 354,482 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Stock Down 0.6 %

Shares of ACGL stock traded down $0.59 during trading hours on Wednesday, hitting $93.19. 1,257,354 shares of the company were exchanged, compared to its average volume of 1,705,126. Arch Capital Group Ltd. has a 52 week low of $69.05 and a 52 week high of $95.01. The business has a 50 day moving average of $89.96 and a two-hundred day moving average of $84.22. The company has a market capitalization of $34.96 billion, a PE ratio of 8.07, a PEG ratio of 1.17 and a beta of 0.57. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.17.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Thursday, February 15th. The insurance provider reported $2.49 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.55. The firm had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.67 billion. Arch Capital Group had a net margin of 32.59% and a return on equity of 21.94%. During the same quarter last year, the company posted $2.14 earnings per share. Analysts anticipate that Arch Capital Group Ltd. will post 8.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ACGL shares. UBS Group cut their price target on Arch Capital Group from $101.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, January 10th. Royal Bank of Canada restated an “outperform” rating and issued a $98.00 price target on shares of Arch Capital Group in a research report on Friday, February 16th. TD Cowen initiated coverage on shares of Arch Capital Group in a research report on Wednesday, January 10th. They issued an “outperform” rating and a $96.00 price target on the stock. Evercore ISI lifted their price objective on shares of Arch Capital Group from $92.00 to $100.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Finally, StockNews.com cut shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.23.

Insider Transactions at Arch Capital Group

In other news, CFO Francois Morin sold 25,689 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $87.47, for a total transaction of $2,247,016.83. Following the transaction, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at $19,399,009.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Maamoun Rajeh sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total transaction of $4,374,000.00. Following the transaction, the chief executive officer now directly owns 336,170 shares of the company’s stock, valued at $29,408,151.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Francois Morin sold 25,689 shares of the firm’s stock in a transaction that occurred 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 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. Over the last ninety days, insiders have sold 135,689 shares of company stock valued at $11,872,217. 4.00% of the stock is currently owned by company insiders.

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.