Canada Pension Plan Investment Board Purchases 108,025 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• The Canada Pension Plan Investment Board increased its stake in Arch Capital Group Ltd. by 28.1%, owning approximately $47.34 million worth of shares after acquiring an additional 108,025 shares in the first quarter.
• Several analysts recently set new price targets for Arch Capital Group, with Citigroup issuing a "buy" rating and a price objective of $113.00, while UBS Group set a price target of $118.00.
• Arch Capital Group reported an earnings per share (EPS) of $2.58 for the last quarter, beating analysts' expectations of $2.30, with a revenue of $4.35 billion.

Canada Pension Plan Investment Board grew its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 28.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 492,160 shares of the insurance provider's stock after buying an additional 108,025 shares during the period. Canada Pension Plan Investment Board owned 0.13% of Arch Capital Group worth $47,336,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Capital A Wealth Management LLC purchased a new stake in shares of Arch Capital Group during the 4th quarter worth approximately $25,000. Meeder Asset Management Inc. increased its position in shares of Arch Capital Group by 116.3% during the first quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock valued at $27,000 after buying an additional 150 shares during the period. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Arch Capital Group in the 1st quarter worth approximately $27,000. Wayfinding Financial LLC purchased a new stake in Arch Capital Group during the 1st quarter valued at $31,000. Finally, Zions Bancorporation National Association UT bought a new position in shares of Arch Capital Group during the 1st quarter valued at $37,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ACGL. Cowen restated a "buy" rating on shares of Arch Capital Group in a report on Monday, August 4th. UBS Group restated a "buy" rating and issued a $118.00 price objective (down from $124.00) on shares of Arch Capital Group in a research note on Monday, August 4th. Cantor Fitzgerald raised shares of Arch Capital Group to a "hold" rating in a research note on Wednesday, August 13th. Citigroup started coverage on Arch Capital Group in a research note on Wednesday, August 13th. They issued a "buy" rating and a $113.00 price objective for the company. Finally, Jefferies Financial Group cut Arch Capital Group from a "buy" rating to a "hold" rating and lowered their price target for the stock from $106.00 to $100.00 in a report on Tuesday, June 10th. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Arch Capital Group has a consensus rating of "Moderate Buy" and an average target price of $111.27.

Arch Capital Group Stock Performance

Shares of NASDAQ ACGL traded down $0.29 during trading on Thursday, reaching $92.62. The stock had a trading volume of 584,317 shares, compared to its average volume of 1,917,525. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. The firm's 50 day moving average price is $89.64 and its two-hundred day moving average price is $91.25. The stock has a market cap of $34.57 billion, a PE ratio of 9.55, a P/E/G ratio of 5.60 and a beta of 0.51. Arch Capital Group Ltd. has a one year low of $82.49 and a one year high of $116.47.

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

Insider Activity at Arch Capital Group

In related news, insider Maamoun Rajeh sold 10,000 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $94.15, for a total transaction of $941,500.00. Following the completion of the sale, the insider owned 433,589 shares of the company's stock, valued at $40,822,404.35. This represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.20% of the stock is currently owned by corporate insiders.

About Arch Capital Group

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.