Victory Capital Management Inc. Has $27.85 Million Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

Victory Capital Management Inc. raised its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 5.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 275,994 shares of the insurance provider’s stock after buying an additional 15,262 shares during the period. Victory Capital Management Inc.’s holdings in Arch Capital Group were worth $27,845,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Arch Capital Group by 0.3% in the first quarter. Vanguard Group Inc. now owns 40,858,890 shares of the insurance provider’s stock valued at $3,776,996,000 after acquiring an additional 104,008 shares during the last quarter. Capital World Investors lifted its stake in Arch Capital Group by 0.6% in the 4th quarter. Capital World Investors now owns 10,611,092 shares of the insurance provider’s stock valued at $788,086,000 after purchasing an additional 58,862 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Arch Capital Group by 4.4% during the second quarter. Principal Financial Group Inc. now owns 7,100,952 shares of the insurance provider’s stock worth $716,415,000 after purchasing an additional 300,716 shares during the period. Allspring Global Investments Holdings LLC increased its position in Arch Capital Group by 1.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,907,122 shares of the insurance provider’s stock worth $546,054,000 after buying an additional 99,329 shares during the last quarter. Finally, Norges Bank bought a new stake in Arch Capital Group in the fourth quarter valued at approximately $309,496,000. 89.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

ACGL has been the subject of several research analyst reports. Bank of America reduced their target price on Arch Capital Group from $119.00 to $118.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Wells Fargo & Company decreased their price objective on shares of Arch Capital Group from $111.00 to $110.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. StockNews.com cut shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. JMP Securities lifted their target price on shares of Arch Capital Group from $110.00 to $115.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada increased their price target on shares of Arch Capital Group from $108.00 to $112.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $110.93.

Arch Capital Group Stock Performance

Shares of NASDAQ:ACGL opened at $109.75 on Thursday. Arch Capital Group Ltd. has a 1 year low of $72.85 and a 1 year high of $114.65. The stock has a market capitalization of $41.21 billion, a price-to-earnings ratio of 8.66, a price-to-earnings-growth ratio of 2.00 and a beta of 0.59. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.60. The company’s 50 day simple moving average is $102.05 and its 200 day simple moving average is $97.74.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.36. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The company had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the company posted $1.92 EPS. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, research analysts predict that Arch Capital Group Ltd. will post 9.01 EPS for the current fiscal year.

Insider Buying and Selling at Arch Capital Group

In other news, CFO Francois Morin sold 11,460 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the transaction, the chief financial officer now owns 221,779 shares of the company’s stock, valued at $22,723,476.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.20% of the company’s stock.

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.