Strs Ohio Buys New Stake 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 purchased a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 349,566 shares of the insurance provider's stock, valued at approximately $33,621,000. Strs Ohio owned about 0.09% of Arch Capital Group as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Arch Capital Group by 14.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,804 shares of the insurance provider's stock worth $4,924,000 after buying an additional 6,406 shares during the last quarter. DAVENPORT & Co LLC bought a new stake in shares of Arch Capital Group in the 1st quarter worth about $251,000. D.A. Davidson & CO. increased its holdings in shares of Arch Capital Group by 10.9% in the 1st quarter. D.A. Davidson & CO. now owns 45,552 shares of the insurance provider's stock worth $4,381,000 after buying an additional 4,460 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of Arch Capital Group by 24.7% in the 1st quarter. Crossmark Global Holdings Inc. now owns 37,625 shares of the insurance provider's stock worth $3,619,000 after buying an additional 7,448 shares during the last quarter. Finally, World Investment Advisors increased its holdings in shares of Arch Capital Group by 114.1% in the 1st quarter. World Investment Advisors now owns 6,321 shares of the insurance provider's stock worth $608,000 after buying an additional 3,369 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Arch Capital Group

In other news, insider Maamoun Rajeh sold 10,000 shares of the company'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 completion of the sale, the insider owned 433,589 shares of the company's stock, valued at approximately $40,822,404.35. This represents a 2.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.10% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on ACGL shares. Citigroup started coverage on shares of Arch Capital Group in a report on Wednesday, August 13th. They set a "buy" rating and a $113.00 price target on the stock. Morgan Stanley set a $110.00 price target on shares of Arch Capital Group and gave the company an "overweight" rating in a report on Monday, May 19th. Cowen reiterated a "buy" rating on shares of Arch Capital Group in a report on Monday, August 4th. Cantor Fitzgerald upgraded shares of Arch Capital Group to a "hold" rating in a report on Wednesday, August 13th. Finally, Jefferies Financial Group downgraded shares of Arch Capital Group from a "buy" rating to a "hold" rating and cut their price target for the company from $106.00 to $100.00 in a report 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. Based on data from MarketBeat.com, Arch Capital Group has an average rating of "Moderate Buy" and an average target price of $111.27.

Arch Capital Group Trading Down 0.0%

Arch Capital Group stock traded down $0.03 during trading hours on Friday, hitting $92.26. The company had a trading volume of 1,256,486 shares, compared to its average volume of 1,668,070. The firm has a market cap of $34.43 billion, a P/E ratio of 9.52, a P/E/G ratio of 5.65 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. Arch Capital Group Ltd. has a 1 year low of $82.49 and a 1 year high of $116.47. The company has a 50-day moving average price of $89.83 and a two-hundred day moving average price of $91.38.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $4.29 billion. During the same period in the previous year, the company earned $2.57 EPS. On average, sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

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.