Arch Capital Group Ltd. $ACGL Shares Bought by Headlands Technologies LLC

Headlands Technologies LLC raised its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 1,308.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 50,947 shares of the insurance provider’s stock after buying an additional 47,329 shares during the quarter. Headlands Technologies LLC’s holdings in Arch Capital Group were worth $4,945,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ACGL. Quantitative Investment Management LLC acquired a new stake in shares of Arch Capital Group in the 2nd quarter worth approximately $785,000. New Mexico Educational Retirement Board increased its stake in Arch Capital Group by 2.9% in the 2nd quarter. New Mexico Educational Retirement Board now owns 17,800 shares of the insurance provider’s stock valued at $1,728,000 after purchasing an additional 500 shares in the last quarter. Braun Stacey Associates Inc. boosted its position in Arch Capital Group by 1.7% during the second quarter. Braun Stacey Associates Inc. now owns 230,526 shares of the insurance provider’s stock worth $22,375,000 after purchasing an additional 3,920 shares in the last quarter. Wellington Management Group LLP grew its holdings in Arch Capital Group by 7.2% in the second quarter. Wellington Management Group LLP now owns 1,189,970 shares of the insurance provider’s stock valued at $115,498,000 after purchasing an additional 79,869 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Arch Capital Group in the second quarter valued at $11,914,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Arch Capital Group Stock Performance

Shares of NASDAQ ACGL opened at $98.84 on Monday. The company has a 50-day simple moving average of $99.75 and a 200-day simple moving average of $96.77. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.57 and a quick ratio of 0.57. The company has a market cap of $33.73 billion, a PE ratio of 7.73, a price-to-earnings-growth ratio of 4.87 and a beta of 0.31. Arch Capital Group Ltd. has a 12 month low of $82.44 and a 12 month high of $107.08.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.09. The firm had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.36 billion. Arch Capital Group had a net margin of 24.40% and a return on equity of 17.06%. During the same quarter last year, the business earned $2.58 earnings per share. On average, equities analysts anticipate that Arch Capital Group Ltd. will post 9.44 earnings per share for the current year.

Insider Buying and Selling at Arch Capital Group

In other news, CFO Francois Morin sold 11,010 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $99.32, for a total transaction of $1,093,513.20. Following the sale, the chief financial officer owned 184,826 shares in the company, valued at $18,356,918.32. This trade represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brian S. Posner sold 3,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total value of $58,980.00. The disclosure for this sale is available in the SEC filing. 3.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on ACGL. Weiss Ratings reissued a “buy (b-)” rating on shares of Arch Capital Group in a research note on Thursday, August 13th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $120.00 price target (up from $115.00) on shares of Arch Capital Group in a report on Thursday, July 30th. Mizuho increased their price target on shares of Arch Capital Group from $101.00 to $104.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. lifted their price objective on Arch Capital Group from $116.00 to $118.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Finally, Keefe, Bruyette & Woods lowered their target price on Arch Capital Group from $102.00 to $99.00 and set a “market perform” rating on the stock in a report on Wednesday, July 8th. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $111.11.

About Arch Capital Group

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.