Arch Capital Group Ltd. $ACGL Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 3.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,622,360 shares of the insurance provider’s stock after purchasing an additional 59,670 shares during the period. Thrivent Financial for Lutherans owned about 0.43% of Arch Capital Group worth $147,691,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd raised its position in shares of Arch Capital Group by 3,450.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 414 shares in the last quarter. TD Waterhouse Canada Inc. raised its holdings in Arch Capital Group by 31.4% in the second quarter. TD Waterhouse Canada Inc. now owns 469 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 112 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Arch Capital Group by 157.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider’s stock valued at $65,000 after acquiring an additional 412 shares during the last quarter. Neo Ivy Capital Management bought a new position in Arch Capital Group during the 2nd quarter valued at $73,000. Finally, SVB Wealth LLC bought a new stake in shares of Arch Capital Group in the 1st quarter worth about $81,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Stock Up 0.3%

Shares of Arch Capital Group stock opened at $93.92 on Friday. The stock has a market capitalization of $34.06 billion, a price-to-earnings ratio of 8.79, a PEG ratio of 2.19 and a beta of 0.47. Arch Capital Group Ltd. has a twelve month low of $82.44 and a twelve month high of $97.40. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.13. The business’s 50 day simple moving average is $90.44 and its 200-day simple moving average is $90.35.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $1.01. Arch Capital Group had a return on equity of 16.38% and a net margin of 20.96%.The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the previous year, the firm posted $1.99 EPS. Equities research analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ACGL. The Goldman Sachs Group set a $88.00 target price on shares of Arch Capital Group and gave the company a “sell” rating in a research note on Tuesday, October 14th. Barclays set a $99.00 price objective on Arch Capital Group and gave the company an “equal weight” rating in a research note on Wednesday, October 8th. Wells Fargo & Company decreased their target price on Arch Capital Group from $111.00 to $106.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Wolfe Research began coverage on Arch Capital Group in a research report on Monday, September 15th. They set a “peer perform” rating on the stock. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arch Capital Group in a report on Wednesday, October 8th. Eight investment 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 data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $106.85.

Insider Activity

In other news, CFO Francois Morin sold 8,000 shares of the company’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $94.62, for a total transaction of $756,960.00. Following the completion of the transaction, the chief financial officer owned 266,681 shares in the company, valued at approximately $25,233,356.22. This represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.