Mirae Asset Global Investments Co. Ltd. Has $5.33 Million Stake in Arch Capital Group Ltd. $ACGL

Key Points

• Mirae Asset Global Investments increased its stake in Arch Capital Group Ltd. by 13%, owning 58,539 shares worth approximately $5.33 million.
• Arch Capital Group reported earnings per share of $2.58 for the last quarter, exceeding the consensus estimate by $0.28, with revenue of $4.35 billion.
• Institutional investors and hedge funds now hold 89.07% of Arch Capital Group's stock, indicating strong institutional interest in the company.

Mirae Asset Global Investments Co. Ltd. raised its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 13.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,539 shares of the insurance provider's stock after buying an additional 6,735 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Arch Capital Group were worth $5,330,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ACGL. Harbour Investments Inc. raised its position in Arch Capital Group by 8.4% in the first quarter. Harbour Investments Inc. now owns 1,431 shares of the insurance provider's stock worth $138,000 after purchasing an additional 111 shares in the last quarter. Resonant Capital Advisors LLC raised its holdings in shares of Arch Capital Group by 1.7% in the 1st quarter. Resonant Capital Advisors LLC now owns 6,672 shares of the insurance provider's stock worth $642,000 after buying an additional 113 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Arch Capital Group by 0.9% during the 1st quarter. Venturi Wealth Management LLC now owns 13,228 shares of the insurance provider's stock worth $1,272,000 after buying an additional 115 shares during the period. Hemington Wealth Management boosted its stake in Arch Capital Group by 27.7% in the 1st quarter. Hemington Wealth Management now owns 548 shares of the insurance provider's stock valued at $52,000 after buying an additional 119 shares in the last quarter. Finally, Horizon Advisory Services Inc. grew its position in Arch Capital Group by 4.2% in the first quarter. Horizon Advisory Services Inc. now owns 2,996 shares of the insurance provider's stock valued at $288,000 after acquiring an additional 120 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Arch Capital Group Trading Up 0.6%

NASDAQ:ACGL opened at $91.35 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56. The business's 50-day simple moving average is $90.11 and its 200-day simple moving average is $91.10. Arch Capital Group Ltd. has a fifty-two week low of $82.49 and a fifty-two week high of $116.47. The stock has a market capitalization of $34.09 billion, a PE ratio of 9.43, a price-to-earnings-growth ratio of 5.56 and a beta of 0.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.30 by $0.28. The business had revenue of $4.35 billion for the quarter, compared to analysts' expectations 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 EPS. Sell-side analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ACGL has been the subject of a number of recent analyst reports. UBS Group reaffirmed a "buy" rating and set a $118.00 price target (down from $124.00) on shares of Arch Capital Group in a report on Monday, August 4th. Citigroup started coverage on Arch Capital Group in a research note on Wednesday, August 13th. They issued a "buy" rating and a $113.00 target price for the company. Wolfe Research assumed coverage on shares of Arch Capital Group in a research report on Monday, September 15th. They set a "peer perform" rating on the stock. Jefferies Financial Group cut shares of Arch Capital Group from a "buy" rating to a "hold" rating and lowered their price objective for the company from $106.00 to $100.00 in a research report on Tuesday, June 10th. Finally, Cantor Fitzgerald raised shares of Arch Capital Group to a "hold" rating in a research note on Wednesday, August 13th. Eight equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Arch Capital Group currently has an average rating of "Hold" and an average target price of $109.36.

Insider Activity

In other news, insider Maamoun Rajeh sold 10,000 shares of the 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 transaction, the insider directly owned 433,589 shares in the company, valued at $40,822,404.35. This represents a 2.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.10% of the stock is owned by company 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.

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