Creative Planning Acquires 1,720 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Creative Planning increased its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 4.7% during the third quarter, HoldingsChannel.com reports. The fund owned 37,950 shares of the insurance provider’s stock after buying an additional 1,720 shares during the quarter. Creative Planning’s holdings in Arch Capital Group were worth $4,246,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Capital International Investors raised its stake in shares of Arch Capital Group by 61.1% in the first quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock valued at $380,167,000 after buying an additional 1,560,173 shares during the period. Brandes Investment Partners LP bought a new stake in shares of Arch Capital Group in the second quarter valued at $48,119,000. Natixis Advisors LLC raised its stake in shares of Arch Capital Group by 59.1% in the second quarter. Natixis Advisors LLC now owns 1,139,480 shares of the insurance provider’s stock valued at $114,962,000 after buying an additional 423,406 shares during the period. Retirement Systems of Alabama raised its stake in shares of Arch Capital Group by 385.0% in the first quarter. Retirement Systems of Alabama now owns 398,884 shares of the insurance provider’s stock valued at $36,873,000 after buying an additional 316,640 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Arch Capital Group by 10.1% in the second quarter. Legal & General Group Plc now owns 3,455,949 shares of the insurance provider’s stock valued at $348,671,000 after buying an additional 316,070 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Francois Morin sold 11,460 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the sale, the chief financial officer now owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.20% of the stock is currently owned by corporate insiders.

Arch Capital Group Price Performance

ACGL opened at $107.04 on Friday. The stock has a 50-day moving average price of $110.58 and a 200-day moving average price of $102.21. Arch Capital Group Ltd. has a 12-month low of $72.85 and a 12-month high of $116.47. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $40.25 billion, a P/E ratio of 7.53, a PEG ratio of 2.00 and a beta of 0.59.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the prior year, the business earned $1.92 EPS. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities analysts predict that Arch Capital Group Ltd. will post 9.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on ACGL. Royal Bank of Canada boosted their target price on Arch Capital Group from $108.00 to $112.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Wells Fargo & Company lifted their price target on Arch Capital Group from $110.00 to $126.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. TD Cowen lifted 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. Jefferies Financial Group lifted their price target on Arch Capital Group from $114.00 to $134.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Roth Mkm lifted their price target on Arch Capital Group from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $119.53.

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.