61,048 Shares of Arch Capital Group Ltd. $ACGL Purchased by Rakuten Investment Management Inc.

Key Points

• Rakuten Investment Management initiated a position in Arch Capital, purchasing 61,048 shares worth about $5.8 million in the third quarter.
• Analyst sentiment is mixed: seven analysts rate ACGL a Buy, eight a Hold, and one a Sell; the consensus rating is Hold with an average price target of $111.65.
• Arch Capital beat quarterly estimates, reporting earnings per share of $2.67 versus $2.31 expected and revenue of $4.66 billion versus $4.06 billion forecast.

Rakuten Investment Management Inc. bought a new position in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 61,048 shares of the insurance provider's stock, valued at approximately $5,807,000.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in Arch Capital Group by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,173,885 shares of the insurance provider's stock worth $400,643,000 after acquiring an additional 117,929 shares during the last quarter. Madison Asset Management LLC bought a new position in Arch Capital Group in the 2nd quarter valued at approximately $368,808,000. First Trust Advisors LP boosted its stake in Arch Capital Group by 319.5% during the 1st quarter. First Trust Advisors LP now owns 2,626,148 shares of the insurance provider's stock valued at $252,084,000 after purchasing an additional 2,000,162 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Arch Capital Group by 10.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,259,582 shares of the insurance provider's stock valued at $208,695,000 after purchasing an additional 210,609 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Arch Capital Group by 50.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,910,063 shares of the insurance provider's stock valued at $183,347,000 after purchasing an additional 641,462 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on ACGL. Evercore reduced their target price on Arch Capital Group from $105.00 to $103.00 in a report on Wednesday, October 28th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $120.00 price target (up from $115.00) on shares of Arch Capital Group in a report on Thursday, July 30th. Bank of America upped their price target on Arch Capital Group from $129.00 to $131.00 and gave the company a "buy" rating in a report on Monday, October 12th. Wells Fargo & Company increased their price objective on Arch Capital Group from $107.00 to $119.00 and gave the company an "overweight" rating in a research report on Monday. Finally, Atlantic Securities set a $126.00 price objective on Arch Capital Group in a report on Wednesday, July 15th. Seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Arch Capital Group currently has a consensus rating of "Hold" and an average target price of $111.65.

Insider Transactions at Arch Capital Group

In related news, CFO Francois Morin sold 11,010 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $99.32, for a total transaction of $1,093,513.20. Following the completion of the sale, the chief financial officer directly owned 184,826 shares in the company, valued at approximately $18,356,918.32. The trade was a 5.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.30% of the company's stock.

Arch Capital Group Trading Down 0.1%

Arch Capital Group stock opened at $110.57 on Friday. The business has a 50-day simple moving average of $98.67 and a two-hundred day simple moving average of $97.14. The company has a market cap of $37.73 billion, a P/E ratio of 9.04, a P/E/G ratio of 3.65 and a beta of 0.22. Arch Capital Group Ltd. has a 52-week low of $87.05 and a 52-week high of $113.63. The company has a quick ratio of 0.57, a current ratio of 0.56 and a debt-to-equity ratio of 0.21.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The insurance provider reported $2.67 EPS for the quarter, beating the consensus estimate of $2.31 by $0.36. Arch Capital Group had a net margin of 23.31% and a return on equity of 16.62%. The firm had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the prior year, the firm earned $2.77 EPS. Analysts predict that Arch Capital Group Ltd. will post 10.12 EPS for the current year.

Arch Capital Group Company 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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