Citizens Financial Group Inc. RI Purchases 14,992 Shares of Arch Capital Group Ltd. $ACGL

Citizens Financial Group Inc. RI boosted its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 632.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,362 shares of the insurance provider’s stock after acquiring an additional 14,992 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Arch Capital Group were worth $1,575,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Arch Capital Group in the 2nd quarter worth approximately $441,551,000. Ameriprise Financial Inc. grew its position in Arch Capital Group by 289.1% during the second quarter. Ameriprise Financial Inc. now owns 1,368,648 shares of the insurance provider’s stock valued at $124,615,000 after buying an additional 1,016,919 shares during the period. Champlain Investment Partners LLC increased its holdings in Arch Capital Group by 109.3% during the second quarter. Champlain Investment Partners LLC now owns 1,045,262 shares of the insurance provider’s stock valued at $95,171,000 after buying an additional 545,777 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in Arch Capital Group by 99.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,029,515 shares of the insurance provider’s stock worth $93,408,000 after acquiring an additional 512,879 shares during the period. Finally, Worldquant Millennium Advisors LLC boosted its stake in shares of Arch Capital Group by 249.7% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 707,039 shares of the insurance provider’s stock worth $64,376,000 after acquiring an additional 504,880 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ACGL shares. Royal Bank Of Canada set a $108.00 price objective on Arch Capital Group and gave the stock an “outperform” rating in a research note on Monday, November 24th. Wells Fargo & Company reduced their price target on Arch Capital Group from $111.00 to $106.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $93.00 price objective (up previously from $84.00) on shares of Arch Capital Group in a research note on Wednesday, January 7th. Citigroup reiterated a “market outperform” rating on shares of Arch Capital Group in a research note on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Arch Capital Group from $100.00 to $102.00 and gave the stock a “market perform” rating in a report on Tuesday, January 6th. Eight equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Arch Capital Group presently has a consensus rating of “Hold” and a consensus target price of $106.60.

Insiders Place Their Bets

In other news, insider John M. Pasquesi sold 8,800 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $94.17, for a total transaction of $828,696.00. Following the completion of the transaction, the insider owned 289,556 shares in the company, valued at $27,267,488.52. This trade represents a 2.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Francois Morin sold 8,000 shares of the business’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $94.62, for a total value of $756,960.00. Following the completion of the sale, the chief financial officer owned 266,681 shares in the company, valued at $25,233,356.22. This represents a 2.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 220,666 shares of company stock worth $20,728,673. 4.10% of the stock is currently owned by insiders.

Arch Capital Group Stock Down 2.6%

Shares of ACGL opened at $90.77 on Wednesday. The business’s 50 day moving average is $93.46 and its 200 day moving average is $90.87. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.13. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $97.60. The company has a market capitalization of $32.92 billion, a PE ratio of 8.49, a price-to-earnings-growth ratio of 2.10 and a beta of 0.45.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $1.01. Arch Capital Group had a net margin of 20.96% and a return on equity of 16.38%. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same period last year, the firm posted $1.99 EPS. Research analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Arch Capital Group Company Profile

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.