Arch Capital Group Ltd. $ACGL Shares Acquired by Saudi Central Bank

Key Points

• Saudi Central Bank increased its Arch Capital Group stake by 81.7% in the second quarter, adding 10,931 shares to hold 24,316 shares worth approximately $2.36 million. Institutional investors collectively own 89.07% of ACGL.
• Arch Capital exceeded quarterly expectations, reporting $2.56 in EPS versus the $2.47 consensus and $4.67 billion in revenue versus estimates of $4.36 billion.
• Analysts remain broadly positive but the consensus rating is “Hold,” with an average price target of $111.11 compared with the stock’s reported $98.10 opening price. CFO Francois Morin separately sold 11,010 shares.

Saudi Central Bank increased its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 81.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,316 shares of the insurance provider's stock after purchasing an additional 10,931 shares during the period. Saudi Central Bank's holdings in Arch Capital Group were worth $2,360,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its stake in shares of Arch Capital Group by 157.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider's stock worth $65,000 after buying an additional 412 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Arch Capital Group during the second quarter worth about $253,000. CW Advisors LLC grew its holdings in Arch Capital Group by 6.5% during the second quarter. CW Advisors LLC now owns 3,098 shares of the insurance provider's stock worth $282,000 after acquiring an additional 189 shares during the period. Jump Financial LLC bought a new stake in Arch Capital Group in the second quarter worth about $667,000. Finally, Cerity Partners LLC raised its position in Arch Capital Group by 11.6% in the second quarter. Cerity Partners LLC now owns 47,486 shares of the insurance provider's stock worth $4,324,000 after acquiring an additional 4,933 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Arch Capital Group news, CFO Francois Morin sold 11,010 shares of the business's stock in a transaction dated 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 completion of the sale, the chief financial officer owned 184,826 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. 3.30% of the stock is currently owned by company insiders.

Arch Capital Group Stock Performance

Shares of NASDAQ ACGL opened at $98.10 on Tuesday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.23. Arch Capital Group Ltd. has a one year low of $82.44 and a one year high of $107.08. The business has a 50-day moving average price of $100.16 and a two-hundred day moving average price of $96.77. The firm has a market capitalization of $33.47 billion, a PE ratio of 7.67, a PEG ratio of 4.83 and a beta of 0.30.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.09. The business had revenue of $4.67 billion during 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 in the previous year, the business earned $2.58 EPS. As a group, analysts predict that Arch Capital Group Ltd. will post 9.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald raised their price objective on shares of Arch Capital Group from $102.00 to $110.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. Morgan Stanley boosted their target price on shares of Arch Capital Group from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday, July 6th. UBS Group reissued a "buy" rating and set a $120.00 target price (up from $114.00) on shares of Arch Capital Group in a research note on Wednesday, July 8th. Citigroup restated a "market outperform" rating on shares of Arch Capital Group in a report on Wednesday, July 29th. Finally, Wells Fargo & Company lifted their price target on shares of Arch Capital Group from $114.00 to $117.00 and gave the stock an "overweight" rating in a research report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $111.11.

Arch Capital Group Company Profile

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.

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