Triad Investment Management Invests $2.03 Million in Arch Capital Group Ltd. $ACGL

Key Points

• Triad Investment Management acquired 20,915 Arch Capital shares worth approximately $2.03 million, making ACGL its 21st-largest holding and representing 2.3% of its portfolio.
• Institutional ownership remains high at 89.07%, with several major investors increasing or initiating positions, including California State Teachers Retirement System, Norges Bank and Madison Asset Management.
• Arch Capital exceeded quarterly earnings and revenue expectations, reporting $2.56 EPS and $4.67 billion in revenue; analysts’ consensus rating is “Hold” with a target price of $111.11.

Triad Investment Management acquired a new stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 20,915 shares of the insurance provider's stock, valued at approximately $2,030,000. Arch Capital Group makes up 2.3% of Triad Investment Management's investment portfolio, making the stock its 21st biggest holding.

Several other hedge funds have also recently modified their holdings of the business. California State Teachers Retirement System raised its position in Arch Capital Group by 9,977.0% in the 2nd quarter. California State Teachers Retirement System now owns 47,698,002 shares of the insurance provider's stock worth $4,629,568,000 after buying an additional 47,224,669 shares during the last quarter. Norges Bank bought a new position in Arch Capital Group in the fourth quarter worth approximately $463,208,000. Morgan Stanley lifted its position in Arch Capital Group by 0.8% during the fourth quarter. Morgan Stanley now owns 4,289,082 shares of the insurance provider's stock valued at $411,409,000 after purchasing an additional 33,132 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Arch Capital Group by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,173,885 shares of the insurance provider's stock valued at $400,643,000 after buying an additional 117,929 shares in the last quarter. Finally, Madison Asset Management LLC purchased a new position in Arch Capital Group during the second quarter valued at approximately $368,808,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

ACGL has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on Arch Capital Group from $114.00 to $117.00 and gave the stock an "overweight" rating in a research note on Thursday, July 30th. Morgan Stanley lifted their price objective on shares of Arch Capital Group from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Monday, July 6th. Mizuho boosted their target price on Arch Capital Group from $101.00 to $104.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. UBS Group reissued a "buy" rating and issued a $120.00 price objective (up from $114.00) on shares of Arch Capital Group in a research report on Wednesday, July 8th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $120.00 target price (up from $115.00) on shares of Arch Capital Group in a research report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Arch Capital Group presently has an average rating of "Hold" and a consensus target price of $111.11.

Arch Capital Group Stock Up 0.4%

Shares of NASDAQ ACGL opened at $96.11 on Thursday. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $107.08. The stock's fifty day simple moving average is $100.08 and its two-hundred day simple moving average is $96.74. The stock has a market capitalization of $32.80 billion, a PE ratio of 7.51, a price-to-earnings-growth ratio of 4.71 and a beta of 0.30. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.23.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its earnings results on Tuesday, July 28th. The insurance provider reported $2.56 EPS for the quarter, topping analysts' consensus estimates of $2.47 by $0.09. Arch Capital Group had a net margin of 24.40% and a return on equity of 17.06%. The business had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the previous year, the company posted $2.58 earnings per share. As a group, analysts expect that Arch Capital Group Ltd. will post 9.44 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Francois Morin sold 11,010 shares of the company's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $99.32, for a total transaction of $1,093,513.20. Following the transaction, the chief financial officer directly owned 184,826 shares of the company's stock, valued at $18,356,918.32. This represents a 5.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 3.30% of the stock is currently owned by company insiders.

Arch Capital Group Company Profile

Arch Capital Group Ltd. is a Bermuda-based insurance and financial services company that operates through a global network of subsidiaries. Listed on the Nasdaq under the symbol ACGL, the company provides specialty insurance, reinsurance and mortgage insurance products to businesses, institutions and individuals.

Arch's insurance operations offer coverage across property, casualty and specialty lines, including professional liability, marine, aviation, energy, construction, accident and health, and other complex or customized risks.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.