Securian Asset Management Inc. Has $2.13 Million Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Posted by Defense World Staff on Jul 16th, 2023

Securian Asset Management Inc. lifted its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL – Free Report) by 0.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,349 shares of the insurance provider’s stock after purchasing an additional 218 shares during the quarter. Securian Asset Management Inc.’s holdings in Arch Capital Group were worth $2,128,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Arch Capital Group by 2.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,182,351 shares of the insurance provider’s stock valued at $80,246,000 after acquiring an additional 26,784 shares during the period. First Trust Direct Indexing L.P. grew its stake in shares of Arch Capital Group by 26.3% in the 1st quarter. First Trust Direct Indexing L.P. now owns 14,698 shares of the insurance provider’s stock valued at $998,000 after purchasing an additional 3,059 shares during the period. State of New Jersey Common Pension Fund D raised its holdings in shares of Arch Capital Group by 1.2% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 215,797 shares of the insurance provider’s stock worth $14,646,000 after buying an additional 2,462 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Arch Capital Group during the 1st quarter worth approximately $360,000. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in Arch Capital Group by 3.1% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 186,700 shares of the insurance provider’s stock valued at $12,671,000 after buying an additional 5,700 shares in the last quarter. 88.46% of the stock is currently owned by institutional investors.

Arch Capital Group Trading Up 0.2 %

ACGL opened at $77.00 on Friday. The firm has a 50 day simple moving average of $73.06 and a 200 day simple moving average of $69.25. Arch Capital Group Ltd. has a fifty-two week low of $41.05 and a fifty-two week high of $78.30. The company has a market cap of $28.68 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 1.23 and a beta of 0.73. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.57 and a quick ratio of 0.57.

Arch Capital Group (NASDAQ:ACGL – Get Free Report) last posted its quarterly earnings results on Thursday, April 27th. The insurance provider reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.22. The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.26 billion. Arch Capital Group had a return on equity of 17.51% and a net margin of 18.43%. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.10 EPS. On average, sell-side analysts anticipate that Arch Capital Group Ltd. will post 6.25 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on ACGL. Royal Bank of Canada boosted their target price on shares of Arch Capital Group from $74.00 to $81.00 in a research note on Friday, April 28th. JPMorgan Chase & Co. raised their price objective on shares of Arch Capital Group from $67.00 to $75.00 in a report on Thursday, July 6th. Morgan Stanley began coverage on Arch Capital Group in a report on Tuesday, June 20th. They issued an “overweight” rating and a $92.00 target price on the stock. Barclays raised their price target on Arch Capital Group from $78.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, April 28th. Finally, Jefferies Financial Group reduced their price objective on Arch Capital Group from $86.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, April 10th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.10.

Insider Transactions at Arch Capital Group

In related news, insider Louis T. Petrillo sold 15,406 shares of the stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $76.79, for a total value of $1,183,026.74. Following the sale, the insider now directly owns 105,254 shares in the company, valued at approximately $8,082,454.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Arch Capital Group news, CFO Francois Morin sold 10,000 shares of the business’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $76.11, for a total value of $761,100.00. Following the completion of the transaction, the chief financial officer now directly owns 193,109 shares of the company’s stock, valued at $14,697,525.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Louis T. Petrillo sold 15,406 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $76.79, for a total value of $1,183,026.74. Following the sale, the insider now directly owns 105,254 shares in the company, valued at approximately $8,082,454.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 371,346 shares of company stock worth $28,238,083. 4.20% of the stock is currently owned by company insiders.

About Arch Capital Group

(Free Report)

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; collateral protection, debt cancellation, and service contract reimbursement products; 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.