Meeder Asset Management Inc. Acquires 11,054 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• Meeder Asset Management massively increased its stake in Arch Capital Group in Q1, lifting holdings by 8,987% to 11,177 shares worth about $1.07 million.
• Institutional ownership remains very high, with 89.07% of Arch Capital Group stock held by institutions, and several other funds also added to their positions recently.
• Arch Capital reported solid quarterly results with $2.50 EPS and $4.52 billion in revenue, while analysts currently rate the stock a Hold on average with a consensus target price of $109.82.

Meeder Asset Management Inc. lifted its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 8,987.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,177 shares of the insurance provider's stock after buying an additional 11,054 shares during the period. Meeder Asset Management Inc.'s holdings in Arch Capital Group were worth $1,073,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Legal & General Group Plc grew its holdings in shares of Arch Capital Group by 4.3% during the fourth quarter. Legal & General Group Plc now owns 2,944,169 shares of the insurance provider's stock worth $282,405,000 after purchasing an additional 121,090 shares during the last quarter. National Pension Service increased its stake in shares of Arch Capital Group by 8.5% in the fourth quarter. National Pension Service now owns 683,272 shares of the insurance provider's stock valued at $65,539,000 after buying an additional 53,661 shares during the period. Asset Management One Co. Ltd. raised its holdings in Arch Capital Group by 10.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 187,002 shares of the insurance provider's stock valued at $18,024,000 after buying an additional 17,923 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Arch Capital Group by 50.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,548,042 shares of the insurance provider's stock valued at $148,488,000 after buying an additional 518,527 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in Arch Capital Group by 3.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,033,834 shares of the insurance provider's stock worth $99,165,000 after buying an additional 33,869 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Daniel Joseph Houston acquired 5,300 shares of the firm's stock in a transaction dated Thursday, April 30th. The stock was bought at an average cost of $94.08 per share, for a total transaction of $498,624.00. Following the completion of the transaction, the director directly owned 9,915 shares in the company, valued at $932,803.20. This represents a 114.84% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brian S. Posner sold 3,000 shares of Arch Capital Group stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total transaction of $58,980.00. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.30% of the company's stock.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $101.83 on Tuesday. The business's 50 day simple moving average is $95.25 and its 200 day simple moving average is $95.66. Arch Capital Group Ltd. has a one year low of $82.44 and a one year high of $105.09. The stock has a market capitalization of $35.58 billion, a PE ratio of 7.82, a PEG ratio of 5.04 and a beta of 0.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.55 and a quick ratio of 0.55.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share (EPS) for the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. The firm had revenue of $4.52 billion during the quarter. As a group, research analysts forecast that Arch Capital Group Ltd. will post 9.35 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ACGL shares. JPMorgan Chase & Co. boosted their target price on shares of Arch Capital Group from $110.00 to $116.00 and gave the stock a "neutral" rating in a report on Monday. Wells Fargo & Company raised their price target on shares of Arch Capital Group from $110.00 to $114.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Morgan Stanley lifted their price target on shares of Arch Capital Group from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday, July 6th. Keefe, Bruyette & Woods reduced their price objective 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, Mizuho increased 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. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $109.82.

Arch Capital Group 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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