Arch Capital Group Ltd. $ACGL Shares Purchased by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Arch Capital Group stake by 9,977% in the second quarter, acquiring 47.2 million additional shares. It ended the period with 47.7 million shares, representing approximately 13.98% of the insurer.
• Arch Capital exceeded quarterly expectations, reporting $2.56 in earnings per share versus the $2.47 consensus estimate and $4.67 billion in revenue versus $4.36 billion expected.
• Analyst sentiment remains mixed: the stock has an average rating of “Hold” and an average price target of $111.11, compared with a recent trading price of $96.11.

California State Teachers Retirement System increased its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 9,977.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 47,698,002 shares of the insurance provider's stock after buying an additional 47,224,669 shares during the quarter. California State Teachers Retirement System owned about 13.98% of Arch Capital Group worth $4,629,568,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased 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 acquiring an additional 412 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Arch Capital Group during the 2nd quarter valued at about $253,000. CW Advisors LLC grew its holdings in shares of Arch Capital Group by 6.5% in the second quarter. CW Advisors LLC now owns 3,098 shares of the insurance provider's stock valued at $282,000 after purchasing an additional 189 shares during the period. Jump Financial LLC purchased a new stake in shares of Arch Capital Group in the second quarter valued at about $667,000. Finally, Cerity Partners LLC increased its position in Arch Capital Group by 11.6% during the second quarter. Cerity Partners LLC now owns 47,486 shares of the insurance provider's stock worth $4,324,000 after purchasing an additional 4,933 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Arch Capital Group Trading Up 0.4%

NASDAQ ACGL opened at $96.11 on Thursday. 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 stock has a market capitalization of $32.80 billion, a P/E ratio of 7.51, a PEG ratio of 4.71 and a beta of 0.30. The firm's 50-day moving average is $100.08 and its two-hundred day moving average is $96.74. 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 - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share for the quarter, beating analysts' consensus estimates of $2.47 by $0.09. The business had revenue of $4.67 billion during the quarter, compared to analysts' expectations 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 period last year, the business earned $2.58 earnings per share. On average, sell-side 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 related news, CFO Francois Morin sold 11,010 shares of Arch Capital Group stock in a transaction that occurred on Tuesday, August 18th. The shares were 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 in the company, valued at approximately $18,356,918.32. This trade represents a 5.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.30% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on ACGL. Keefe, Bruyette & Woods reduced their target price on shares of Arch Capital Group from $102.00 to $99.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 8th. Cantor Fitzgerald raised their price target on shares of Arch Capital Group from $102.00 to $110.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. Wells Fargo & Company lifted their price target on shares of Arch Capital Group from $114.00 to $117.00 and gave the company an "overweight" rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. upped their price objective on Arch Capital Group from $116.00 to $118.00 and gave the company a "neutral" rating in a report on Tuesday, August 11th. Finally, Morgan Stanley upped their price objective on Arch Capital Group from $105.00 to $110.00 and gave the company an "overweight" rating in a report on Monday, July 6th. 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 company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $111.11.

Arch Capital Group Company Profile

Arch Capital Group Ltd. is a Bermuda-based insurance and financial services company that operates through a global network of subsidiaries. Listed on the Nasdaq under the symbol ACGL, the company provides specialty insurance, reinsurance and mortgage insurance products to businesses, institutions and individuals.

Arch's insurance operations offer coverage across property, casualty and specialty lines, including professional liability, marine, aviation, energy, construction, accident and health, and other complex or customized risks.

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