Allstate Corp Makes New $1.16 Million Investment in Arch Capital Group Ltd. $ACGL

Allstate Corp purchased a new stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 12,821 shares of the insurance provider’s stock, valued at approximately $1,163,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ACGL. TD Waterhouse Canada Inc. raised its stake in Arch Capital Group by 31.4% in the second quarter. TD Waterhouse Canada Inc. now owns 469 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 112 shares in the last quarter. Crescent Grove Advisors LLC grew its stake in Arch Capital Group by 3.1% in the 2nd quarter. Crescent Grove Advisors LLC now owns 3,702 shares of the insurance provider’s stock worth $337,000 after buying an additional 112 shares in the last quarter. TIAA Trust National Association increased its holdings in shares of Arch Capital Group by 3.1% in the 2nd quarter. TIAA Trust National Association now owns 3,892 shares of the insurance provider’s stock worth $354,000 after buying an additional 116 shares during the last quarter. Greenleaf Trust raised its position in shares of Arch Capital Group by 4.2% during the 2nd quarter. Greenleaf Trust now owns 3,082 shares of the insurance provider’s stock valued at $281,000 after buying an additional 125 shares in the last quarter. Finally, J.W. Cole Advisors Inc. raised its position in shares of Arch Capital Group by 4.4% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 3,025 shares of the insurance provider’s stock valued at $275,000 after buying an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Stock Up 0.5%

Shares of Arch Capital Group stock opened at $92.28 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.55 and a current ratio of 0.55. Arch Capital Group Ltd. has a 52-week low of $82.44 and a 52-week high of $97.60. The company’s 50 day moving average price is $93.67 and its 200-day moving average price is $90.92. The stock has a market capitalization of $33.46 billion, a price-to-earnings ratio of 8.63, a P/E/G ratio of 2.31 and a beta of 0.45.

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

Insider Activity

In other news, CFO Francois Morin sold 8,000 shares of the stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $94.62, for a total transaction of $756,960.00. Following the completion of the sale, the chief financial officer directly owned 266,681 shares in the company, valued at approximately $25,233,356.22. This represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John M. Pasquesi sold 203,866 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $93.90, for a total value of $19,143,017.40. Following the completion of the sale, the insider directly owned 351,356 shares in the company, valued at $32,992,328.40. The trade was a 36.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 220,666 shares of company stock valued at $20,728,673. Insiders own 4.20% of the company’s stock.

Analysts Set New Price Targets

ACGL has been the subject of several research reports. JPMorgan Chase & Co. upped their target price on shares of Arch Capital Group from $111.00 to $117.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods lifted their price target on Arch Capital Group from $100.00 to $102.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 6th. Wells Fargo & Company cut their price objective on Arch Capital Group from $111.00 to $106.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Citigroup reiterated a “market outperform” rating on shares of Arch Capital Group in a research report on Friday, January 16th. Finally, Morgan Stanley set a $125.00 price objective on Arch Capital Group in a report on Friday, January 16th. Eight investment 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.com, the company presently has a consensus rating of “Hold” and an average price target of $107.53.

Arch Capital Group 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.