Strs Ohio Invests $33.62 Million in Arch Capital Group Ltd. $ACGL

Key Points

• Strs Ohio acquired 349,566 shares of Arch Capital Group Ltd. (NASDAQ:ACGL) valued at approximately $33.6 million, representing 0.09% ownership as of the latest SEC filing.
• Arch Capital Group reported $2.58 earnings per share (EPS) for the last quarter, exceeding analysts' expectations, with total revenue of $4.35 billion.
• A majority of institutional investors now hold 89.07% of Arch Capital's stock, indicating a strong institutional confidence in the company.

Strs Ohio bought a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 349,566 shares of the insurance provider's stock, valued at approximately $33,621,000. Strs Ohio owned 0.09% of Arch Capital Group at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Capital A Wealth Management LLC bought a new position in Arch Capital Group in the fourth quarter worth about $25,000. Meeder Asset Management Inc. raised its stake in Arch Capital Group by 116.3% in the first quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock worth $27,000 after buying an additional 150 shares in the last quarter. Bartlett & CO. Wealth Management LLC bought a new position in Arch Capital Group in the first quarter worth about $27,000. Wayfinding Financial LLC bought a new position in Arch Capital Group in the first quarter worth about $31,000. Finally, Zions Bancorporation National Association UT bought a new position in shares of Arch Capital Group during the first quarter valued at approximately $37,000. 89.07% of the stock is owned by institutional investors.

Insider Transactions at Arch Capital Group

In related news, insider Maamoun Rajeh sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $94.15, for a total value of $941,500.00. Following the sale, the insider owned 433,589 shares in the company, valued at approximately $40,822,404.35. This trade represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.10% of the company's stock.

Arch Capital Group Stock Down 0.1%

Shares of NASDAQ:ACGL traded down $0.05 during trading on Wednesday, reaching $87.33. 816,792 shares of the stock traded hands, compared to its average volume of 1,919,453. Arch Capital Group Ltd. has a 52-week low of $82.49 and a 52-week high of $116.47. 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 stock has a 50-day moving average of $89.79 and a two-hundred day moving average of $91.33. The stock has a market cap of $32.59 billion, a P/E ratio of 9.01, a price-to-earnings-growth ratio of 5.50 and a beta of 0.51.

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

Analysts Set New Price Targets

ACGL has been the subject of a number of analyst reports. Citigroup initiated coverage on shares of Arch Capital Group in a research note on Wednesday, August 13th. They set a "buy" rating and a $113.00 target price for the company. Wells Fargo & Company decreased their target price on shares of Arch Capital Group from $110.00 to $107.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Cowen reaffirmed a "buy" rating on shares of Arch Capital Group in a research note on Monday, August 4th. Wolfe Research initiated coverage on shares of Arch Capital Group in a research note on Monday. They set a "peer perform" rating for the company. Finally, Jefferies Financial Group downgraded shares of Arch Capital Group from a "buy" rating to a "hold" rating and decreased their target price for the company from $106.00 to $100.00 in a research note on Tuesday, June 10th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Arch Capital Group has an average rating of "Moderate Buy" and a consensus target price of $111.27.

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.