Mirae Asset Global Investments Co. Ltd. Grows Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Mirae Asset Global Investments Co. Ltd. increased its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 19.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 89,122 shares of the insurance provider’s stock after purchasing an additional 14,339 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Arch Capital Group were worth $6,619,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. DekaBank Deutsche Girozentrale raised its stake in Arch Capital Group by 6.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 205,548 shares of the insurance provider’s stock valued at $16,756,000 after purchasing an additional 11,594 shares during the last quarter. SG Americas Securities LLC raised its stake in Arch Capital Group by 601.1% in the 4th quarter. SG Americas Securities LLC now owns 141,370 shares of the insurance provider’s stock valued at $10,500,000 after purchasing an additional 121,206 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in Arch Capital Group by 0.7% in the 3rd quarter. Treasurer of the State of North Carolina now owns 209,153 shares of the insurance provider’s stock valued at $16,672,000 after purchasing an additional 1,504 shares during the last quarter. Millington Financial Advisors LLC acquired a new position in Arch Capital Group in the 3rd quarter valued at about $1,030,000. Finally, Asset Management One Co. Ltd. raised its stake in Arch Capital Group by 31.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 201,790 shares of the insurance provider’s stock valued at $14,945,000 after purchasing an additional 48,587 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Trading Down 1.5 %

NASDAQ ACGL opened at $89.98 on Monday. Arch Capital Group Ltd. has a one year low of $69.05 and a one year high of $95.01. The company’s 50 day moving average price is $88.79 and its 200 day moving average price is $83.65. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a market capitalization of $33.76 billion, a price-to-earnings ratio of 7.74, a PEG ratio of 1.12 and a beta of 0.57.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Thursday, February 15th. The insurance provider reported $2.49 EPS for the quarter, beating the consensus estimate of $1.94 by $0.55. Arch Capital Group had a net margin of 32.59% and a return on equity of 21.94%. The firm had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter last year, the firm posted $2.14 earnings per share. On average, sell-side analysts predict that Arch Capital Group Ltd. will post 8.02 EPS for the current year.

Insider Activity at Arch Capital Group

In related news, CFO Francois Morin sold 25,689 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $87.47, for a total value of $2,247,016.83. Following the transaction, the chief financial officer now owns 221,779 shares in the company, valued at $19,399,009.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Arch Capital Group news, CFO Francois Morin sold 25,689 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $87.47, for a total value of $2,247,016.83. Following the completion of the sale, the chief financial officer now owns 221,779 shares of the company’s stock, valued at $19,399,009.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Maamoun Rajeh sold 50,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total transaction of $4,374,000.00. Following the completion of the sale, the chief executive officer now directly owns 336,170 shares of the company’s stock, valued at approximately $29,408,151.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 135,689 shares of company stock worth $11,872,217. Company insiders own 4.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ACGL shares. JPMorgan Chase & Co. boosted their target price on shares of Arch Capital Group from $88.00 to $92.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Evercore ISI increased their price objective on shares of Arch Capital Group from $92.00 to $100.00 and gave the stock an “in-line” rating in a report on Thursday. TD Cowen started coverage on shares of Arch Capital Group in a report on Wednesday, January 10th. They set an “outperform” rating and a $96.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $98.00 price objective on shares of Arch Capital Group in a report on Friday, February 16th. Finally, Wells Fargo & Company increased their price objective on shares of Arch Capital Group from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.77.

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.