Mackenzie Financial Corp Has $9.35 Million Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

Mackenzie Financial Corp raised its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 94.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,665 shares of the insurance provider’s stock after purchasing an additional 45,056 shares during the quarter. Mackenzie Financial Corp’s holdings in Arch Capital Group were worth $9,349,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of ACGL. Baldwin Brothers LLC MA grew its holdings in Arch Capital Group by 50.7% during the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock worth $31,000 after buying an additional 104 shares in the last quarter. Fidelis Capital Partners LLC grew its stake in shares of Arch Capital Group by 3.1% in the 2nd quarter. Fidelis Capital Partners LLC now owns 3,553 shares of the insurance provider’s stock worth $344,000 after acquiring an additional 106 shares in the last quarter. Sunbelt Securities Inc. grew its stake in shares of Arch Capital Group by 1.8% in the 1st quarter. Sunbelt Securities Inc. now owns 6,679 shares of the insurance provider’s stock worth $617,000 after acquiring an additional 117 shares in the last quarter. Resonant Capital Advisors LLC raised its holdings in shares of Arch Capital Group by 2.1% in the first quarter. Resonant Capital Advisors LLC now owns 5,802 shares of the insurance provider’s stock valued at $536,000 after purchasing an additional 118 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Arch Capital Group by 40.3% during the second quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 131 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Insider Activity

In related 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 sale, the chief financial officer now owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on ACGL. StockNews.com lowered shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. TD Cowen increased their price target on Arch Capital Group from $116.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Evercore ISI boosted their price objective on Arch Capital Group from $100.00 to $104.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 31st. Royal Bank of Canada raised their target price on Arch Capital Group from $108.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Citigroup boosted their price target on shares of Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $113.73.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL opened at $111.88 on Tuesday. The company has a 50-day moving average price of $106.05 and a two-hundred day moving average price of $100.03. Arch Capital Group Ltd. has a twelve month low of $72.85 and a twelve month high of $114.69. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $42.01 billion, a PE ratio of 8.83, a P/E/G ratio of 2.05 and a beta of 0.60.

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

Arch Capital Group 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.