103,601 Shares in Arch Capital Group Ltd. $ACGL Acquired by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments acquired 103,601 Arch Capital shares in the third quarter, valued at approximately $9.57 million; institutional investors own 89.07% of the stock.
• Arch Capital reported quarterly EPS of $2.67, beating the $2.31 analyst consensus, and revenue of $4.66 billion, above estimates of $4.06 billion.
• Analysts’ consensus rating is Hold, with an average price target of $111.65; seven analysts rate the stock Buy, eight Hold, and one Sell.

Mirae Asset Global Investments Co. Ltd. acquired a new position in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 103,601 shares of the insurance provider's stock, valued at approximately $9,569,000.

A number of other large investors have also recently made changes to their positions in ACGL. Horizons Wealth Management purchased a new position in shares of Arch Capital Group during the third quarter valued at approximately $25,000. Torren Management LLC lifted its stake in Arch Capital Group by 66.9% in the second quarter. Torren Management LLC now owns 292 shares of the insurance provider's stock worth $28,000 after acquiring an additional 117 shares during the period. Continuum Advisory LLC purchased a new stake in Arch Capital Group in the second quarter worth $46,000. Allied Private Wealth LLC purchased a new stake in Arch Capital Group in the second quarter worth $69,000. Finally, Westpac Banking Corp bought a new stake in Arch Capital Group in the first quarter valued at $69,000. 89.07% of the stock is currently owned by institutional investors.

Arch Capital Group Stock Performance

Shares of ACGL opened at $110.68 on Thursday. The company has a quick ratio of 0.57, a current ratio of 0.56 and a debt-to-equity ratio of 0.21. The business's 50 day moving average price is $98.47 and its 200-day moving average price is $97.04. Arch Capital Group Ltd. has a 52 week low of $87.05 and a 52 week high of $110.73. The stock has a market cap of $37.77 billion, a P/E ratio of 9.05, a P/E/G ratio of 3.57 and a beta of 0.22.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The insurance provider reported $2.67 earnings per share for the quarter, beating analysts' consensus estimates of $2.31 by $0.36. The company had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.06 billion. Arch Capital Group had a return on equity of 16.62% and a net margin of 23.31%. During the same quarter last year, the company earned $2.77 EPS. Equities research analysts anticipate that Arch Capital Group Ltd. will post 10.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $106.00 price objective (up from $95.00) on shares of Arch Capital Group in a research report on Tuesday. Citigroup raised their target price on shares of Arch Capital Group from $122.50 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, October 29th. Weiss Ratings raised shares of Arch Capital Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, October 9th. Atlantic Securities set a $126.00 price target on shares of Arch Capital Group in a research report on Wednesday, July 15th. Finally, Morgan Stanley set a $103.00 price target on shares of Arch Capital Group and gave the stock an "equal weight" rating in a research note on Thursday, October 29th. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $111.65.

Insider Buying and Selling

In other news, CFO Francois Morin sold 11,010 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $99.32, for a total value of $1,093,513.20. Following the sale, the chief financial officer directly owned 184,826 shares of the company's stock, valued at approximately $18,356,918.32. This represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.30% of the company's stock.

Arch Capital Group Profile

Arch Capital Group Ltd. is a Bermuda-based insurance, reinsurance and mortgage insurance company whose shares trade on the Nasdaq under the symbol ACGL. The company was established in 1995 and has developed into a global provider of specialty risk-management products and services.

Through its insurance operations, Arch offers property, casualty, specialty, and accident and health coverage to businesses and other policyholders. Its reinsurance operations provide coverage and risk-transfer solutions to insurance companies across a range of property and casualty lines.

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