Citizens Financial Group Inc. RI Acquires New Shares in Arch Capital Group Ltd. $ACGL

Citizens Financial Group Inc. RI acquired a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 2,370 shares of the insurance provider’s stock, valued at approximately $216,000.

Other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of Arch Capital Group by 1.1% during the second quarter. Geode Capital Management LLC now owns 10,502,003 shares of the insurance provider’s stock valued at $952,523,000 after purchasing an additional 115,465 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Arch Capital Group by 30.5% in the 1st quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider’s stock valued at $718,522,000 after buying an additional 1,743,945 shares during the last quarter. Northern Trust Corp boosted its position in Arch Capital Group by 3.0% during the 1st quarter. Northern Trust Corp now owns 5,005,790 shares of the insurance provider’s stock worth $481,457,000 after buying an additional 144,986 shares during the period. Dimensional Fund Advisors LP grew its holdings in Arch Capital Group by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,176,984 shares of the insurance provider’s stock worth $401,710,000 after acquiring an additional 26,160 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Arch Capital Group in the 1st quarter valued at approximately $399,651,000. 89.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Arch Capital Group from $110.00 to $111.00 and gave the stock a “neutral” rating in a report on Tuesday, October 28th. The Goldman Sachs Group set a $88.00 target price on Arch Capital Group and gave the stock a “sell” rating in a research report on Tuesday, October 14th. Wolfe Research initiated coverage on Arch Capital Group in a report on Monday, September 15th. They set a “peer perform” rating on the stock. Morgan Stanley upped their price target on Arch Capital Group from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Citigroup restated a “market outperform” rating on shares of Arch Capital Group in a research report on Tuesday, October 28th. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $106.75.

Arch Capital Group Stock Up 0.8%

Shares of NASDAQ:ACGL opened at $91.88 on Friday. Arch Capital Group Ltd. has a 1 year low of $82.44 and a 1 year high of $101.66. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.55 and a quick ratio of 0.56. The business’s 50-day moving average is $89.42 and its 200-day moving average is $90.45. The company has a market capitalization of $33.32 billion, a price-to-earnings ratio of 8.59, a P/E/G ratio of 3.24 and a beta of 0.47.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Monday, October 27th. The insurance provider reported $2.77 EPS for the quarter, topping the consensus estimate of $1.76 by $1.01. The business had revenue of $3.96 billion during the quarter, compared to analysts’ expectations 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 firm posted $1.99 earnings per share. Equities research analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

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.