Texas Permanent School Fund Purchases New Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Posted by on May 8th, 2023

Texas Permanent School Fund bought a new position in Arch Capital Group Ltd. (NASDAQ:ACGL – Get Rating) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 52,552 shares of the insurance provider’s stock, valued at approximately $3,299,000.

Other large investors have also added to or reduced their stakes in the company. Accurate Wealth Management LLC purchased a new stake in Arch Capital Group in the 4th quarter worth $30,000. James Investment Research Inc. bought a new stake in shares of Arch Capital Group in the 4th quarter worth about $32,000. Farmers & Merchants Investments Inc. increased its holdings in shares of Arch Capital Group by 54.4% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 582 shares of the insurance provider’s stock worth $37,000 after buying an additional 205 shares during the last quarter. Lindbrook Capital LLC increased its holdings in shares of Arch Capital Group by 538.1% in the 4th quarter. Lindbrook Capital LLC now owns 670 shares of the insurance provider’s stock worth $42,000 after buying an additional 565 shares during the last quarter. Finally, CENTRAL TRUST Co increased its holdings in shares of Arch Capital Group by 57.3% in the 3rd quarter. CENTRAL TRUST Co now owns 692 shares of the insurance provider’s stock worth $32,000 after buying an additional 252 shares during the last quarter. Institutional investors own 88.78% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on ACGL shares. StockNews.com upgraded shares of Arch Capital Group from a “hold” rating to a “buy” rating in a report on Friday, April 28th. BMO Capital Markets started coverage on shares of Arch Capital Group in a report on Thursday, January 19th. They set a “market perform” rating and a $65.00 price target on the stock. JPMorgan Chase & Co. upped their price target on shares of Arch Capital Group from $58.00 to $62.00 and gave the company a “neutral” rating in a report on Friday, March 31st. JMP Securities upped their target price on shares of Arch Capital Group from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, April 27th. Finally, Wells Fargo & Company upped their target price on shares of Arch Capital Group from $72.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 15th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $74.20.

Insiders Place Their Bets

In other Arch Capital Group news, insider Nicolas Papadopoulo sold 70,000 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $75.48, for a total value of $5,283,600.00. Following the completion of the transaction, the insider now owns 689,970 shares of the company’s stock, valued at $52,078,935.60. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Maamoun Rajeh sold 35,940 shares of the stock in a transaction on Monday, May 1st. The shares were sold at an average price of $76.07, for a total value of $2,733,955.80. Following the sale, the chief executive officer now owns 375,378 shares in the company, valued at $28,555,004.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicolas Papadopoulo sold 70,000 shares of the stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $75.48, for a total transaction of $5,283,600.00. Following the completion of the sale, the insider now owns 689,970 shares in the company, valued at approximately $52,078,935.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 178,083 shares of company stock valued at $12,955,847. Insiders own 4.20% of the company’s stock.

Arch Capital Group Trading Up 2.6 %

NASDAQ:ACGL opened at $74.81 on Monday. Arch Capital Group Ltd. has a 52 week low of $41.05 and a 52 week high of $76.92. The firm has a 50 day moving average of $69.69 and a 200 day moving average of $63.97. The company has a quick ratio of 0.56, a current ratio of 0.57 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $27.77 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 1.21 and a beta of 0.72.

Arch Capital Group (NASDAQ:ACGL – Get Rating) last posted its earnings results on Thursday, April 27th. The insurance provider reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.22. Arch Capital Group had a net margin of 18.43% and a return on equity of 17.51%. The company had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the prior year, the company posted $1.10 earnings per share. Arch Capital Group’s revenue for the quarter was up 30.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Arch Capital Group Ltd. will post 6.16 earnings per share for the current fiscal year.

About Arch Capital Group

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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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