Arch Capital Group Ltd. $ACGL Shares Purchased by Squarepoint Ops LLC

Key Points

• Squarepoint Ops LLC increased its Arch Capital Group stake by 2,311% in the second quarter, adding 219,594 shares to own 229,096 shares valued at approximately $22.2 million. Institutional investors collectively hold 89.07% of ACGL’s outstanding stock.
• Analyst sentiment is mixed, with seven Buy, seven Hold, and one Sell rating; the average rating is Hold with a consensus price target of $111.11. Recent targets range from $99 to $117.
• Arch Capital beat quarterly expectations, reporting $2.56 EPS versus the $2.47 estimate and $4.67 billion in revenue versus $4.36 billion expected. The stock opened at $95.71 and recently traded below its 50-day moving average.

Squarepoint Ops LLC lifted its position in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 2,311.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 229,096 shares of the insurance provider's stock after buying an additional 219,594 shares during the period. Squarepoint Ops LLC owned approximately 0.07% of Arch Capital Group worth $22,236,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Baird Financial Group Inc. lifted its holdings in shares of Arch Capital Group by 1.3% during the second quarter. Baird Financial Group Inc. now owns 57,678 shares of the insurance provider's stock valued at $5,598,000 after purchasing an additional 751 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Arch Capital Group by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 99,594 shares of the insurance provider's stock valued at $9,667,000 after purchasing an additional 1,060 shares during the period. VELA Investment Management LLC increased its stake in Arch Capital Group by 4.0% in the 2nd quarter. VELA Investment Management LLC now owns 62,029 shares of the insurance provider's stock worth $6,021,000 after purchasing an additional 2,411 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Arch Capital Group during the 2nd quarter worth about $20,286,000. Finally, California State Teachers Retirement System raised its holdings in Arch Capital Group by 9,977.0% during the 2nd quarter. California State Teachers Retirement System now owns 47,698,002 shares of the insurance provider's stock worth $4,629,568,000 after buying an additional 47,224,669 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on ACGL. Citigroup reiterated a "market outperform" rating on shares of Arch Capital Group in a report on Wednesday, July 29th. Morgan Stanley upped their price target on shares of Arch Capital Group from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, July 6th. Cantor Fitzgerald raised their price objective on shares of Arch Capital Group from $102.00 to $110.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Keefe, Bruyette & Woods cut 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. Finally, Wells Fargo & Company increased their target price on Arch Capital Group from $114.00 to $117.00 and gave the company an "overweight" rating in a report on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $111.11.

Insider Buying and Selling

In related news, CFO Francois Morin sold 11,010 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $18,356,918.32. This represents a 5.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.30% of the stock is currently owned by company insiders.

Arch Capital Group Price Performance

NASDAQ ACGL opened at $95.71 on Wednesday. The company has a 50 day simple moving average of $100.13 and a 200-day simple moving average of $96.75. 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 firm has a market capitalization of $32.66 billion, a price-to-earnings ratio of 7.48, a price-to-earnings-growth ratio of 4.83 and a beta of 0.30. Arch Capital Group Ltd. has a 52-week low of $82.44 and a 52-week high of $107.08.

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 analysts' consensus estimates of $2.47 by $0.09. The firm had revenue of $4.67 billion during the quarter, compared to analysts' expectations of $4.36 billion. Arch Capital Group had a return on equity of 17.06% and a net margin of 24.40%.During the same quarter last year, the firm earned $2.58 earnings per share. Equities research analysts predict that Arch Capital Group Ltd. will post 9.44 earnings per share for the current fiscal year.

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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