Thrivent Financial for Lutherans Purchases 32,115 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Thrivent Financial for Lutherans grew its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,882,387 shares of the insurance provider’s stock after acquiring an additional 32,115 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Arch Capital Group were worth $189,914,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Arch Capital Group by 0.3% during 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 in the last quarter. Capital World Investors grew its holdings in Arch Capital Group by 0.6% during the fourth quarter. Capital World Investors now owns 10,611,092 shares of the insurance provider’s stock worth $788,086,000 after buying an additional 58,862 shares in 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 buying an additional 300,716 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings 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 in the last quarter. Finally, Capital International Investors grew its holdings in Arch Capital Group by 61.1% during the first quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock worth $380,167,000 after buying an additional 1,560,173 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Arch Capital Group Stock Performance

Shares of ACGL opened at $113.24 on Friday. The stock’s 50-day simple moving average is $103.82 and its 200 day simple moving average is $98.71. The stock has a market capitalization of $42.59 billion, a price-to-earnings ratio of 8.94, a price-to-earnings-growth ratio of 2.07 and a beta of 0.60. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.60 and a current ratio of 0.60. Arch Capital Group Ltd. has a 52-week low of $72.85 and a 52-week high of $114.69.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ACGL. Keefe, Bruyette & Woods upped their price target on Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. TD Cowen boosted their price objective on Arch Capital Group from $116.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday. Barclays assumed coverage on Arch Capital Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 price objective on the stock. Roth Mkm boosted their price objective on Arch Capital Group from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on Arch Capital Group from $106.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Arch Capital Group has a consensus rating of “Moderate Buy” and a consensus target price of $113.73.

Insiders Place Their Bets

In other news, CFO Francois Morin sold 11,460 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the transaction, the chief financial officer now directly owns 221,779 shares in the company, valued at approximately $22,723,476.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.20% 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.