Great Lakes Advisors LLC Makes New Investment in Arch Capital Group Ltd. $ACGL

Key Points

• Great Lakes Advisors acquired 282,932 shares of Arch Capital Group in the second quarter, valued at approximately $27.5 million, giving it a 0.08% stake. Institutional investors collectively own 89.07% of the insurer.
• Arch Capital reported quarterly EPS of $2.56, beating estimates of $2.47, while revenue reached $4.67 billion versus expectations of $4.36 billion.
• Analyst sentiment is mixed but leans positive: the stock has a consensus “Hold” rating and an average price target of $111.11, compared with a recent share price of $98.91.

Great Lakes Advisors LLC acquired a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 282,932 shares of the insurance provider's stock, valued at approximately $27,461,000. Great Lakes Advisors LLC owned approximately 0.08% of Arch Capital Group as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ACGL. Trust Co. of Vermont acquired a new stake in Arch Capital Group in the second quarter worth $99,000. USA Financial Formulas acquired a new position in shares of Arch Capital Group during the first quarter valued at about $108,000. Torren Management LLC boosted its position in shares of Arch Capital Group by 66.9% during the 2nd quarter. Torren Management LLC now owns 292 shares of the insurance provider's stock worth $28,000 after purchasing an additional 117 shares in the last quarter. Finivi Inc. acquired a new stake in shares of Arch Capital Group in the 2nd quarter valued at about $345,000. Finally, Franklin Street Advisors Inc. NC grew its stake in shares of Arch Capital Group by 26.3% in the 2nd quarter. Franklin Street Advisors Inc. NC now owns 3,638 shares of the insurance provider's stock valued at $353,000 after buying an additional 758 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Insider Buying and Selling at Arch Capital Group

In related news, Director Brian S. Posner sold 3,000 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total transaction of $58,980.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.30% of the stock is owned by insiders.

Arch Capital Group Trading Up 1.1%

Shares of Arch Capital Group stock opened at $98.91 on Wednesday. The stock has a fifty day simple moving average of $98.46 and a 200 day simple moving average of $96.68. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $107.08. The company has a market capitalization of $33.75 billion, a P/E ratio of 7.73, a price-to-earnings-growth ratio of 10.34 and a beta of 0.31. 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 (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.09. Arch Capital Group had a return on equity of 17.06% and a net margin of 24.40%.The business had revenue of $4.67 billion for the quarter, compared to analysts' expectations of $4.36 billion. During the same period last year, the business earned $2.58 EPS. On average, sell-side analysts anticipate that Arch Capital Group Ltd. will post 9.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Wells Fargo & Company boosted their target price on Arch Capital Group from $114.00 to $117.00 and gave the company an "overweight" rating in a research report on Thursday, July 30th. Morgan Stanley raised their price objective on Arch Capital Group from $105.00 to $110.00 and gave the company an "overweight" rating in a research note on Monday, July 6th. Mizuho boosted their price objective on Arch Capital Group from $101.00 to $104.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. Weiss Ratings restated a "buy (b-)" rating on shares of Arch Capital Group in a report on Thursday, August 13th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $120.00 price objective (up from $115.00) on shares of Arch Capital Group in a report on Thursday, July 30th. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company 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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