Mirae Asset Global Investments Co. Ltd. Grows Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Mirae Asset Global Investments Co. Ltd. increased its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,759 shares of the insurance provider’s stock after buying an additional 393 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Arch Capital Group were worth $4,509,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Silver Oak Securities Incorporated grew its position in Arch Capital Group by 3,664.7% during the 3rd quarter. Silver Oak Securities Incorporated now owns 7,680 shares of the insurance provider’s stock valued at $871,000 after purchasing an additional 7,476 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Arch Capital Group by 9.7% during the third quarter. Assenagon Asset Management S.A. now owns 31,094 shares of the insurance provider’s stock valued at $3,479,000 after buying an additional 2,741 shares during the last quarter. Impact Partnership Wealth LLC bought a new stake in shares of Arch Capital Group during the third quarter valued at approximately $527,000. CENTRAL TRUST Co raised its holdings in Arch Capital Group by 16.5% in the 3rd quarter. CENTRAL TRUST Co now owns 12,111 shares of the insurance provider’s stock worth $1,355,000 after acquiring an additional 1,713 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in Arch Capital Group by 18,634.1% in the 3rd quarter. International Assets Investment Management LLC now owns 551,345 shares of the insurance provider’s stock valued at $616,840,000 after acquiring an additional 548,402 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Arch Capital Group Price Performance

NASDAQ:ACGL opened at $104.80 on Wednesday. The business’s 50-day simple moving average is $110.84 and its two-hundred day simple moving average is $102.67. Arch Capital Group Ltd. has a 52 week low of $72.85 and a 52 week high of $116.47. The stock has a market cap of $39.41 billion, a PE ratio of 7.37, a P/E/G ratio of 1.95 and a beta of 0.59. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 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 company had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the previous year, the firm earned $1.92 EPS. The firm’s revenue was up 10.3% compared to the same quarter last year. As a group, analysts forecast that Arch Capital Group Ltd. will post 9.06 EPS for the current fiscal year.

Analyst Ratings Changes

ACGL has been the subject of several recent analyst reports. Royal Bank of Canada boosted their price target on Arch Capital Group from $108.00 to $112.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Citigroup raised their price target on shares of Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. JMP Securities boosted their price objective on shares of Arch Capital Group from $115.00 to $125.00 and gave the company a “market outperform” rating in a report on Tuesday, October 15th. Evercore ISI raised their target price on shares of Arch Capital Group from $104.00 to $107.00 and gave the stock an “in-line” rating in a report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Arch Capital Group from $120.00 to $121.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Arch Capital Group has a consensus rating of “Moderate Buy” and an average target price of $119.53.

Insider Activity

In related news, CFO Francois Morin sold 11,460 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the completion of the transaction, the chief financial officer now owns 221,779 shares in the company, valued at approximately $22,723,476.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.00% 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.