OMERS ADMINISTRATION Corp Increases Holdings in Arch Capital Group Ltd. $ACGL

Key Points

• OMERS ADMINISTRATION Corp significantly increased its stake in Arch Capital Group Ltd. by 42.2% during the first quarter, now holding a total of 45,026 shares valued at approximately $4.33 million.
• JPMorgan Chase & Co. and several other institutional investors also expanded their positions in Arch Capital Group, with JPMorgan increasing its stake by 30.5% during the same period, now owning shares worth over $718 million.
• Arch Capital Group reported earnings of $2.58 per share for the last quarter, surpassing expectations and showing strong revenue growth, with analysts forecasting an average earnings per share of 8.42 for the current year.

OMERS ADMINISTRATION Corp grew its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 42.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,026 shares of the insurance provider's stock after acquiring an additional 13,357 shares during the period. OMERS ADMINISTRATION Corp's holdings in Arch Capital Group were worth $4,331,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Harbour Investments Inc. lifted its position in shares of Arch Capital Group by 8.4% in the first quarter. Harbour Investments Inc. now owns 1,431 shares of the insurance provider's stock valued at $138,000 after acquiring an additional 111 shares in the last quarter. Resonant Capital Advisors LLC lifted its position in shares of Arch Capital Group by 1.7% in the first 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% in the first 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 in the last quarter. Hemington Wealth Management lifted its position in shares of Arch Capital Group by 27.7% in the first quarter. Hemington Wealth Management now owns 548 shares of the insurance provider's stock worth $52,000 after buying an additional 119 shares in the last quarter. Finally, Horizon Advisory Services Inc. lifted its position in shares of 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 worth $288,000 after buying an additional 120 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Trading Down 0.1%

Shares of ACGL traded down $0.08 during mid-day trading on Tuesday, reaching $91.45. 1,104,088 shares of the company's stock traded hands, compared to its average volume of 1,917,266. The stock has a market cap of $34.13 billion, a P/E ratio of 9.43, a P/E/G ratio of 5.60 and a beta of 0.51. The stock's 50-day moving average is $89.56 and its two-hundred day moving average is $91.24. Arch Capital Group Ltd. has a 12 month low of $82.49 and a 12 month high of $116.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56.

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

Analysts Set New Price Targets

A number of research firms recently commented on ACGL. Cantor Fitzgerald upgraded Arch Capital Group to a "hold" rating in a research report on Wednesday, August 13th. UBS Group reissued a "buy" rating and set a $118.00 price objective (down from $124.00) on shares of Arch Capital Group in a research note on Monday, August 4th. Citigroup started coverage on Arch Capital Group in a research note on Wednesday, August 13th. They set a "buy" rating and a $113.00 price objective on the stock. Keefe, Bruyette & Woods boosted their price objective on Arch Capital Group from $102.00 to $103.00 and gave the stock a "market perform" rating in a research note on Thursday, August 14th. Finally, Jefferies Financial Group cut Arch Capital Group from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $106.00 to $100.00 in a research note 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's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $111.27.

Insider Activity

In related news, insider Maamoun Rajeh sold 10,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total value of $941,500.00. Following the completion of the sale, the insider owned 433,589 shares in the company, valued at approximately $40,822,404.35. The trade was a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.10% 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.