New York State Common Retirement Fund Grows Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

New York State Common Retirement Fund boosted its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 12.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 472,450 shares of the insurance provider's stock after buying an additional 52,198 shares during the period. New York State Common Retirement Fund owned approximately 0.13% of Arch Capital Group worth $45,440,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new position in shares of Arch Capital Group in the 4th quarter worth approximately $92,000. Independent Advisor Alliance raised its position in Arch Capital Group by 98.8% in the fourth quarter. Independent Advisor Alliance now owns 6,925 shares of the insurance provider's stock valued at $640,000 after purchasing an additional 3,442 shares during the period. Moors & Cabot Inc. lifted its stake in Arch Capital Group by 21.9% during the fourth quarter. Moors & Cabot Inc. now owns 2,705 shares of the insurance provider's stock worth $250,000 after purchasing an additional 486 shares in the last quarter. Great Lakes Advisors LLC boosted its position in shares of Arch Capital Group by 79.7% during the fourth quarter. Great Lakes Advisors LLC now owns 6,932 shares of the insurance provider's stock worth $640,000 after buying an additional 3,075 shares during the period. Finally, Avantax Advisory Services Inc. boosted its position in shares of Arch Capital Group by 4.7% during the fourth quarter. Avantax Advisory Services Inc. now owns 22,970 shares of the insurance provider's stock worth $2,121,000 after buying an additional 1,036 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

ACGL has been the topic of several research reports. JPMorgan Chase & Co. increased their target price on Arch Capital Group from $106.00 to $107.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 8th. Morgan Stanley set a $110.00 price target on shares of Arch Capital Group and gave the stock an "overweight" rating in a research note on Monday, May 19th. Jefferies Financial Group cut shares of Arch Capital Group from a "buy" rating to a "hold" rating and dropped their price objective for the company from $106.00 to $100.00 in a report on Tuesday, June 10th. Barclays reduced their target price on shares of Arch Capital Group from $100.00 to $93.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. Finally, JMP Securities restated a "market outperform" rating and issued a $125.00 price target on shares of Arch Capital Group in a research note on Wednesday, April 30th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $113.60.

Arch Capital Group Stock Down 0.5%

Shares of NASDAQ:ACGL traded down $0.41 on Thursday, hitting $88.66. 2,596,644 shares of the company's stock were exchanged, compared to its average volume of 1,829,982. Arch Capital Group Ltd. has a 1-year low of $82.49 and a 1-year high of $116.47. The company has a market capitalization of $33.23 billion, a PE ratio of 9.08, a P/E/G ratio of 6.13 and a beta of 0.51. 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 is $91.75 and its 200 day moving average is $91.96.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its earnings results on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.59 by ($0.05). The business had revenue of $4.52 billion for the quarter, compared to analysts' expectations of $4.75 billion. Arch Capital Group had a return on equity of 15.79% and a net margin of 20.72%. Arch Capital Group's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.45 EPS. Sell-side analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Insider Activity at Arch Capital Group

In related news, insider John M. Pasquesi sold 75,060 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $94.01, for a total value of $7,056,390.60. Following the transaction, the insider directly owned 579,218 shares of the company's stock, valued at $54,452,284.18. This trade represents a 11.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Francois Morin sold 12,630 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $94.58, for a total transaction of $1,194,545.40. Following the completion of the sale, the chief financial officer directly owned 274,681 shares of the company's stock, valued at approximately $25,979,328.98. This trade represents a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,976 shares of company stock worth $10,531,038 in the last ninety days. Company insiders own 4.20% of the company's stock.

Arch Capital Group 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.