Renaissance Group LLC Has $35.56 Million Stock Position in Arch Capital Group Ltd. $ACGL

Renaissance Group LLC lifted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 390,571 shares of the insurance provider’s stock after purchasing an additional 6,439 shares during the period. Arch Capital Group accounts for 1.4% of Renaissance Group LLC’s holdings, making the stock its 27th biggest position. Renaissance Group LLC’s holdings in Arch Capital Group were worth $35,561,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ACGL. Mainstay Capital Management LLC ADV acquired a new position in shares of Arch Capital Group during the 2nd quarter worth about $363,000. Steward Partners Investment Advisory LLC grew its holdings in Arch Capital Group by 9.9% during the first quarter. Steward Partners Investment Advisory LLC now owns 34,987 shares of the insurance provider’s stock worth $3,365,000 after purchasing an additional 3,158 shares during the period. Bryn Mawr Trust Advisors LLC acquired a new position in Arch Capital Group during the second quarter worth approximately $371,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Arch Capital Group by 9.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 658,813 shares of the insurance provider’s stock valued at $63,365,000 after buying an additional 57,297 shares during the period. Finally, OMERS ADMINISTRATION Corp lifted its position in shares of Arch Capital Group by 42.2% in the first quarter. OMERS ADMINISTRATION Corp now owns 45,026 shares of the insurance provider’s stock valued at $4,331,000 after buying an additional 13,357 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ACGL. Citigroup reiterated a “market outperform” rating on shares of Arch Capital Group in a research note on Tuesday, October 28th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $98.00 price objective on shares of Arch Capital Group in a research report on Tuesday, October 28th. Barclays set a $99.00 price objective on shares of Arch Capital Group and gave the company an “equal weight” rating in a research report on Wednesday, October 8th. Cowen reaffirmed a “buy” rating on shares of Arch Capital Group in a report on Monday, August 4th. Finally, Wolfe Research began coverage on shares of Arch Capital Group in a report on Monday, September 15th. They issued a “peer perform” rating on the stock. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $106.75.

Arch Capital Group Stock Down 0.0%

NASDAQ ACGL opened at $91.79 on Wednesday. The company has a market cap of $33.29 billion, a price-to-earnings ratio of 8.59, a PEG ratio of 3.24 and a beta of 0.47. Arch Capital Group Ltd. has a 1-year low of $82.44 and a 1-year high of $101.66. The company has a current ratio of 0.55, a quick ratio of 0.56 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $89.42 and a 200-day moving average of $90.43.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $1.01. The firm had revenue of $3.96 billion for the quarter, compared to analyst estimates 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 quarter last year, the company earned $1.99 EPS. On average, equities research analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Insider Activity

In other 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 transaction of $941,500.00. Following the transaction, the insider 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.10% 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.