BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 27,291 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 61.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 71,845 shares of the insurance provider’s stock after purchasing an additional 27,291 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Arch Capital Group were worth $7,248,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ACGL. Bank of Montreal Can raised its stake in shares of Arch Capital Group by 33.0% in the second quarter. Bank of Montreal Can now owns 485,651 shares of the insurance provider’s stock valued at $49,619,000 after buying an additional 120,553 shares during the period. Public Sector Pension Investment Board raised its stake in Arch Capital Group by 8.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 63,456 shares of the insurance provider’s stock valued at $6,402,000 after acquiring an additional 4,800 shares during the period. Gladstone Capital Management LLP lifted its holdings in Arch Capital Group by 0.6% during the second quarter. Gladstone Capital Management LLP now owns 1,389,951 shares of the insurance provider’s stock valued at $140,232,000 after purchasing an additional 7,725 shares during the last quarter. DRW Securities LLC bought a new position in Arch Capital Group during the second quarter worth about $287,000. Finally, Fidelis Capital Partners LLC boosted its position in Arch Capital Group by 3.1% during the second quarter. Fidelis Capital Partners LLC now owns 3,553 shares of the insurance provider’s stock worth $344,000 after purchasing an additional 106 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ACGL shares. Citigroup upped their price target on shares of Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. increased their target price 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. StockNews.com cut Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Bank of America dropped their price objective on Arch Capital Group from $119.00 to $118.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Finally, Wells Fargo & Company reduced their target price on Arch Capital Group from $111.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, August 12th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $113.73.

Arch Capital Group Price Performance

ACGL stock opened at $113.07 on Thursday. The firm has a 50 day simple moving average of $105.11 and a two-hundred day simple moving average of $99.50. The stock has a market cap of $42.52 billion, a PE ratio of 8.92, a P/E/G ratio of 2.06 and a beta of 0.60. Arch Capital Group Ltd. has a one year low of $72.85 and a one year high of $114.69. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.60.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, beating 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 business had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter in the prior year, the firm earned $1.92 earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis. On average, analysts predict that Arch Capital Group Ltd. will post 9.01 EPS for the current fiscal year.

Insider Activity

In related news, CFO Francois Morin sold 11,460 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $22,723,476.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.20% of the company’s stock.

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.