New York State Teachers Retirement System Purchases 298,285 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Posted by on Apr 13th, 2023

New York State Teachers Retirement System lifted its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL – Get Rating) by 950.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 329,685 shares of the insurance provider’s stock after acquiring an additional 298,285 shares during the period. New York State Teachers Retirement System owned approximately 0.09% of Arch Capital Group worth $20,698,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Accurate Wealth Management LLC bought a new position in Arch Capital Group in the 4th quarter valued at approximately $30,000. CENTRAL TRUST Co lifted its stake in Arch Capital Group by 57.3% in the 3rd quarter. CENTRAL TRUST Co now owns 692 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 252 shares during the last quarter. Private Trust Co. NA bought a new position in Arch Capital Group in the 2nd quarter valued at approximately $36,000. Lindbrook Capital LLC lifted its stake in Arch Capital Group by 538.1% in the 4th quarter. Lindbrook Capital LLC now owns 670 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 565 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in Arch Capital Group by 25.7% in the 3rd quarter. Signaturefd LLC now owns 1,100 shares of the insurance provider’s stock valued at $50,000 after purchasing an additional 225 shares during the last quarter. Institutional investors own 88.78% of the company’s stock.

Arch Capital Group Trading Up 1.8 %

ACGL opened at $70.23 on Thursday. Arch Capital Group Ltd. has a twelve month low of $41.05 and a twelve month high of $72.28. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.23. The company has a fifty day moving average of $67.17 and a 200-day moving average of $60.69. The stock has a market cap of $26.16 billion, a PE ratio of 18.48, a price-to-earnings-growth ratio of 1.12 and a beta of 0.72.

Arch Capital Group (NASDAQ:ACGL – Get Rating) last posted its quarterly earnings data on Tuesday, February 14th. The insurance provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.80. Arch Capital Group had a net margin of 15.34% and a return on equity of 15.93%. The company had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same period in the prior year, the company posted $1.27 earnings per share. On average, sell-side analysts predict that Arch Capital Group Ltd. will post 5.92 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Jefferies Financial Group dropped their price objective on shares of Arch Capital Group from $86.00 to $80.00 and set a “buy” rating for the company in a research note on Monday. Barclays upped their price target on shares of Arch Capital Group from $77.00 to $78.00 in a research report on Wednesday. UBS Group upped their price target on shares of Arch Capital Group from $66.00 to $79.00 and gave the company a “buy” rating in a research report on Tuesday, February 21st. Royal Bank of Canada upped their price target on shares of Arch Capital Group from $70.00 to $74.00 and gave the company an “outperform” rating in a research report on Wednesday, February 15th. Finally, Wells Fargo & Company upped their price target on shares of Arch Capital Group from $72.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 15th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.20.

Insider Transactions at Arch Capital Group

In other news, insider Nicolas Papadopoulo sold 30,000 shares of the stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $70.16, for a total transaction of $2,104,800.00. Following the completion of the sale, the insider now directly owns 759,970 shares in the company, valued at $53,319,495.20. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Arch Capital Group news, insider Nicolas Papadopoulo sold 30,000 shares of the firm’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $70.16, for a total value of $2,104,800.00. Following the completion of the sale, the insider now directly owns 759,970 shares in the company, valued at $53,319,495.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Francois Morin sold 15,814 shares of the firm’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $67.61, for a total transaction of $1,069,184.54. Following the completion of the sale, the chief financial officer now owns 185,869 shares of the company’s stock, valued at $12,566,603.09. The disclosure for this sale can be found here. Insiders sold a total of 72,143 shares of company stock worth $4,938,291 over the last three months. 4.20% of the stock is owned by company insiders.

Arch Capital Group Profile

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Arch Capital Group Ltd. engages in the provision of property and casualty insurance and reinsurance lines. It operates through the following segments: Insurance, Reinsurance, Mortgage, Corporate, and Other. The Insurance segment consists of insurance underwriting units which offer specialty product lines like construction and national accounts, excess and surplus casualty, lenders products, professional lines, and programs.

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Institutional Ownership by Quarter for Arch Capital Group (NASDAQ:ACGL)

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