Arch Capital Group Ltd. (NASDAQ:ACGL) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 3.4% in the second quarter, HoldingsChannel.com reports. The fund owned 301,598 shares of the insurance provider’s stock after purchasing an additional 10,026 shares during the period. The Manufacturers Life Insurance Company’s holdings in Arch Capital Group were worth $30,428,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ACGL. Vanguard Group Inc. boosted its stake in shares of Arch Capital Group by 0.3% in the first quarter. Vanguard Group Inc. now owns 40,858,890 shares of the insurance provider’s stock worth $3,776,996,000 after acquiring an additional 104,008 shares during the last quarter. Capital World Investors lifted its holdings in Arch Capital Group by 0.6% in the 4th quarter. Capital World Investors now owns 10,611,092 shares of the insurance provider’s stock valued at $788,086,000 after purchasing an additional 58,862 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Arch Capital Group by 4.4% during the 2nd quarter. Principal Financial Group Inc. now owns 7,100,952 shares of the insurance provider’s stock worth $716,415,000 after purchasing an additional 300,716 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Arch Capital Group by 1.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,907,122 shares of the insurance provider’s stock worth $546,054,000 after buying an additional 99,329 shares in the last quarter. Finally, Capital International Investors raised its position in shares of Arch Capital Group by 61.1% in the first quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock valued at $380,167,000 after buying an additional 1,560,173 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Trading Down 1.3 %

ACGL opened at $111.88 on Tuesday. Arch Capital Group Ltd. has a 52 week low of $72.85 and a 52 week high of $114.69. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $106.05 and a 200-day simple moving average of $100.03. The firm has a market cap of $42.01 billion, a P/E ratio of 8.83, a P/E/G ratio of 2.05 and a beta of 0.60.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.36. The business had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.92 earnings per share. On average, equities analysts expect that Arch Capital Group Ltd. will post 9.01 earnings per share for the current year.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $102.46, for a total value of $1,174,191.60. Following the sale, the chief financial officer now owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ACGL has been the subject of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Arch Capital Group from $106.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. TD Cowen upped their price target on Arch Capital Group from $116.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Royal Bank of Canada lifted their price objective on Arch Capital Group from $108.00 to $112.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Citigroup boosted their price objective on Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Finally, Wells Fargo & Company reduced their price target on Arch Capital Group from $111.00 to $110.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Arch Capital Group currently has an average rating of “Moderate Buy” and a consensus price target of $113.73.

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.