New York State Teachers Retirement System Grows Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

New York State Teachers Retirement System lifted its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 407,869 shares of the insurance provider’s stock after purchasing an additional 481 shares during the period. New York State Teachers Retirement System’s holdings in Arch Capital Group were worth $45,632,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Capital Wealth Advisors acquired a new stake in Arch Capital Group in the 3rd quarter valued at about $217,000. abrdn plc boosted its holdings in shares of Arch Capital Group by 6.2% during the 3rd quarter. abrdn plc now owns 183,122 shares of the insurance provider’s stock worth $20,456,000 after purchasing an additional 10,626 shares during the last quarter. Autumn Glory Partners LLC purchased a new stake in shares of Arch Capital Group in the third quarter valued at approximately $410,000. Baker Tilly Wealth Management LLC increased its holdings in shares of Arch Capital Group by 25.6% in the third quarter. Baker Tilly Wealth Management LLC now owns 3,269 shares of the insurance provider’s stock valued at $366,000 after purchasing an additional 666 shares during the last quarter. Finally, Leuthold Group LLC purchased a new position in Arch Capital Group during the third quarter worth approximately $4,351,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Trading Up 0.3 %

Shares of NASDAQ ACGL opened at $105.14 on Thursday. The stock has a fifty day simple moving average of $110.85 and a 200-day simple moving average of $102.69. Arch Capital Group Ltd. has a twelve month low of $72.85 and a twelve month high of $116.47. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $39.54 billion, a PE ratio of 7.39, a PEG ratio of 1.95 and a beta of 0.59.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.36. The company had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.89 billion. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. Arch Capital Group’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.92 EPS. On average, equities analysts forecast that Arch Capital Group Ltd. will post 9.06 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ACGL. Citigroup upped their target price on Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Wells Fargo & Company upped their price objective on shares of Arch Capital Group from $110.00 to $126.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. StockNews.com cut shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Evercore ISI boosted their target price on shares of Arch Capital Group from $104.00 to $107.00 and gave the company an “in-line” rating in a report on Wednesday, October 9th. Finally, Jefferies Financial Group raised their price target on shares of Arch Capital Group from $114.00 to $134.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $119.53.

Insider Activity

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the transaction, the chief financial officer now owns 221,779 shares of the company’s stock, valued at $22,723,476.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 4.00% of the company’s stock.

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.