Thrivent Financial for Lutherans Boosts Stake in Arch Capital Group Ltd. $ACGL

Thrivent Financial for Lutherans boosted its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,639,158 shares of the insurance provider’s stock after buying an additional 16,798 shares during the period. Thrivent Financial for Lutherans owned approximately 0.44% of Arch Capital Group worth $148,720,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ACGL. Mainstay Capital Management LLC ADV bought a new position in shares of Arch Capital Group during the 2nd quarter valued at approximately $363,000. Cooke & Bieler LP purchased a new stake in Arch Capital Group during the third quarter valued at $210,856,000. Citizens Financial Group Inc. RI lifted its position in Arch Capital Group by 632.6% during the third quarter. Citizens Financial Group Inc. RI now owns 17,362 shares of the insurance provider’s stock valued at $1,575,000 after purchasing an additional 14,992 shares during the last quarter. Osaic Holdings Inc. grew its stake in shares of Arch Capital Group by 550.1% in the 2nd quarter. Osaic Holdings Inc. now owns 109,984 shares of the insurance provider’s stock worth $10,513,000 after buying an additional 93,067 shares in the last quarter. Finally, Bryn Mawr Trust Advisors LLC bought a new stake in shares of Arch Capital Group in the 2nd quarter worth about $371,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Stock Performance

ACGL stock opened at $96.04 on Friday. Arch Capital Group Ltd. has a twelve month low of $82.44 and a twelve month high of $97.60. The firm has a market cap of $34.83 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 2.01 and a beta of 0.45. The business’s fifty day simple moving average is $93.95 and its two-hundred day simple moving average is $91.17. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.13.

Analyst Upgrades and Downgrades

ACGL has been the subject of a number of analyst reports. Evercore ISI set a $100.00 price target on shares of Arch Capital Group and gave the company an “in-line” rating in a report on Wednesday, January 7th. JPMorgan Chase & Co. raised their price objective on Arch Capital Group from $111.00 to $117.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Royal Bank Of Canada set a $108.00 target price on Arch Capital Group and gave the company an “outperform” rating in a research report on Monday, November 24th. Wells Fargo & Company decreased their price target on Arch Capital Group from $111.00 to $106.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arch Capital Group in a research note on Wednesday, January 21st. Eight equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $107.53.

Insider Activity

In related news, insider John M. Pasquesi sold 203,866 shares of Arch Capital Group stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $93.90, for a total transaction of $19,143,017.40. Following the completion of the sale, the insider owned 351,356 shares in the company, valued at $32,992,328.40. This trade represents a 36.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Francois Morin sold 8,000 shares of the company’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $94.62, for a total transaction of $756,960.00. Following the completion of the transaction, 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. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 220,666 shares of company stock worth $20,728,673 in the last ninety days. 4.20% of the stock is currently owned by insiders.

About Arch Capital Group

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.