Public Sector Pension Investment Board Has $9.64 Million Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Key Points

• The Public Sector Pension Investment Board increased its stake in Arch Capital Group Ltd. by 3.1%, acquiring a total of 100,214 shares valued at approximately $9.64 million.
• Analysts have mixed outlooks on Arch Capital Group, with UBS lowering its target price to $118.00, while JMP Securities set a higher target at $125.00 and maintains a "market outperform" rating.
• Arch Capital Group reported earnings of $2.58 per share for the last quarter, surpassing estimates, and achieved a net margin of 19.49%.

Public Sector Pension Investment Board grew its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,214 shares of the insurance provider's stock after buying an additional 2,986 shares during the quarter. Public Sector Pension Investment Board's holdings in Arch Capital Group were worth $9,639,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital A Wealth Management LLC bought a new stake in shares of Arch Capital Group in the 4th quarter worth approximately $25,000. Bartlett & CO. Wealth Management LLC bought a new stake in shares of Arch Capital Group in the 1st quarter worth approximately $27,000. Meeder Asset Management Inc. raised its holdings in shares of Arch Capital Group by 116.3% in the 1st quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock worth $27,000 after purchasing an additional 150 shares in the last quarter. Wayfinding Financial LLC bought a new stake in shares of Arch Capital Group in the 1st quarter worth approximately $31,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Arch Capital Group in the 1st quarter worth approximately $37,000. 89.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Cantor Fitzgerald upgraded shares of Arch Capital Group to a "hold" rating in a report on Wednesday. Cowen reiterated a "buy" rating on shares of Arch Capital Group in a report on Monday, August 4th. Keefe, Bruyette & Woods lifted their target price on shares of Arch Capital Group from $102.00 to $103.00 and gave the stock a "market perform" rating in a research report on Thursday. Jefferies Financial Group downgraded shares of Arch Capital Group from a "buy" rating to a "hold" rating and dropped their target price for the stock from $106.00 to $100.00 in a research report on Tuesday, June 10th. Finally, JMP Securities reissued a "market outperform" rating and issued a $125.00 target price on shares of Arch Capital Group in a research report on Wednesday, April 30th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $112.13.

Arch Capital Group Stock Down 0.8%

ACGL traded down $0.74 on Friday, reaching $90.72. 3,051,822 shares of the company traded hands, compared to its average volume of 2,644,230. The stock's 50 day moving average price is $89.30 and its 200-day moving average price is $91.24. Arch Capital Group Ltd. has a 52-week low of $82.49 and a 52-week high of $116.47. The company has a market cap of $33.86 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 5.56 and a beta of 0.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.30 by $0.28. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.29 billion. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. During the same period in the previous year, the firm posted $2.57 earnings per share. On average, sell-side analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Arch Capital Group Company Profile

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.