VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $20.29 Million Investment in Arch Capital Group Ltd. $ACGL

Key Points

• Virginia Retirement Systems acquired 209,000 Arch Capital Group shares worth approximately $20.29 million in the second quarter, while institutional investors collectively own 89.07% of the stock.
• Analyst sentiment is mixed but generally favorable: seven analysts rate ACGL a Buy, seven Hold, and one Sell, with a consensus target price of $111.11.
• Arch Capital exceeded quarterly expectations, reporting $2.56 earnings per share versus the $2.47 consensus estimate and $4.67 billion in revenue versus $4.36 billion expected.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 209,000 shares of the insurance provider's stock, valued at approximately $20,286,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.06% of Arch Capital Group at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Elyxium Wealth LLC purchased a new position in Arch Capital Group in the 4th quarter worth about $27,000. WealthCollab LLC boosted its position in Arch Capital Group by 410.3% in the 3rd quarter. WealthCollab LLC now owns 296 shares of the insurance provider's stock valued at $27,000 after buying an additional 238 shares during the period. Torren Management LLC boosted its position in Arch Capital Group by 66.9% in the 2nd quarter. Torren Management LLC now owns 292 shares of the insurance provider's stock valued at $28,000 after buying an additional 117 shares during the period. JPL Wealth Management LLC purchased a new stake in Arch Capital Group in the 3rd quarter valued at about $28,000. Finally, Zions Bancorporation National Association UT grew its stake in Arch Capital Group by 390.9% in the 4th quarter. Zions Bancorporation National Association UT now owns 324 shares of the insurance provider's stock worth $31,000 after acquiring an additional 258 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Francois Morin sold 11,010 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $99.32, for a total value of $1,093,513.20. Following the completion of the transaction, the chief financial officer owned 184,826 shares of the company's stock, valued at $18,356,918.32. The trade was a 5.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on ACGL shares. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Arch Capital Group in a research note on Thursday, August 13th. Morgan Stanley increased their price objective on Arch Capital Group from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Monday, July 6th. Wells Fargo & Company raised their price objective on Arch Capital Group from $114.00 to $117.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Atlantic Securities set a $126.00 target price on Arch Capital Group in a research report on Wednesday, July 15th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Arch Capital Group in a research report on Wednesday, July 29th. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $111.11.

Arch Capital Group Stock Performance

NASDAQ ACGL opened at $98.10 on Tuesday. Arch Capital Group Ltd. has a one year low of $82.44 and a one year high of $107.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.57 and a current ratio of 0.57. The company has a market capitalization of $33.47 billion, a price-to-earnings ratio of 7.67, a price-to-earnings-growth ratio of 4.83 and a beta of 0.30. The company's 50-day simple moving average is $100.16 and its two-hundred day simple moving average is $96.77.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $4.67 billion during the quarter, compared to analysts' expectations of $4.36 billion. During the same quarter in the prior year, the company earned $2.58 EPS. Equities analysts forecast that Arch Capital Group Ltd. will post 9.44 EPS for the current fiscal year.

About Arch Capital Group

Arch Capital Group Ltd. NASDAQ: ACGL is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch's product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.

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