Arch Capital Group Ltd. $ACGL Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund grew its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 20.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,845 shares of the insurance provider’s stock after buying an additional 24,875 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Arch Capital Group were worth $13,188,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ACGL. Meeder Asset Management Inc. increased its stake in Arch Capital Group by 116.3% during the first quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 150 shares during the period. Zions Bancorporation National Association UT purchased a new stake in Arch Capital Group during the 1st quarter worth approximately $37,000. Caitong International Asset Management Co. Ltd lifted its holdings in Arch Capital Group by 3,450.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the insurance provider’s stock worth $39,000 after buying an additional 414 shares in the last quarter. Hemington Wealth Management lifted its holdings in Arch Capital Group by 27.7% during the 1st quarter. Hemington Wealth Management now owns 548 shares of the insurance provider’s stock worth $52,000 after buying an additional 119 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in Arch Capital Group by 157.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider’s stock valued at $65,000 after buying an additional 412 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ACGL. Wolfe Research assumed coverage on Arch Capital Group in a research note on Monday, September 15th. They issued a “peer perform” rating on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Arch Capital Group in a research report on Tuesday, October 28th. Wells Fargo & Company cut their target price on shares of Arch Capital Group from $111.00 to $106.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $98.00 target price on shares of Arch Capital Group in a report on Tuesday, October 28th. Finally, The Goldman Sachs Group set a $88.00 price target on shares of Arch Capital Group and gave the stock a “sell” rating in a report on Tuesday, October 14th. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $109.00.

Insider Transactions at Arch Capital Group

In other Arch Capital Group news, insider Maamoun Rajeh sold 10,000 shares of Arch Capital Group stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $94.15, for a total value of $941,500.00. Following the transaction, the insider directly owned 433,589 shares in the company, valued at approximately $40,822,404.35. The trade was a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.20% of the company’s stock.

Arch Capital Group Trading Up 0.2%

NASDAQ:ACGL opened at $89.79 on Tuesday. The company has a market capitalization of $33.51 billion, a PE ratio of 8.40, a P/E/G ratio of 3.24 and a beta of 0.47. Arch Capital Group Ltd. has a 52-week low of $82.44 and a 52-week high of $102.50. The stock’s 50 day moving average price is $89.36 and its 200 day moving average price is $90.40. The company has a quick ratio of 0.56, a current ratio of 0.55 and a debt-to-equity ratio of 0.13.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.77 earnings per share for the quarter, beating the consensus estimate of $1.76 by $1.01. The business had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $4.39 billion. Arch Capital Group had a return on equity of 16.38% and a net margin of 20.96%.During the same period in the prior year, the company earned $1.99 earnings per share. On average, research analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

About Arch Capital Group

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.