Mediolanum International Funds Ltd Purchases 219,357 Shares of Arch Capital Group Ltd. $ACGL

Mediolanum International Funds Ltd lifted its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 316.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 288,699 shares of the insurance provider’s stock after purchasing an additional 219,357 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Arch Capital Group were worth $27,605,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Elyxium Wealth LLC bought a new position in Arch Capital Group in the fourth quarter worth $27,000. WealthCollab LLC increased its holdings in Arch Capital Group by 410.3% in the 3rd quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock valued at $27,000 after buying an additional 238 shares during the period. JPL Wealth Management LLC bought a new stake in Arch Capital Group in the 3rd quarter valued at $28,000. Aventura Private Wealth LLC acquired a new position in shares of Arch Capital Group in the 4th quarter valued at $30,000. Finally, Grove Bank & Trust bought a new position in shares of Arch Capital Group during the 4th quarter worth about $30,000. 89.07% of the stock is currently owned by institutional investors.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, Director Daniel Joseph Houston purchased 5,300 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was purchased at an average cost of $94.08 per share, with a total value of $498,624.00. Following the acquisition, the director directly owned 9,915 shares of the company’s stock, valued at approximately $932,803.20. This trade represents a 114.84% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Brian S. Posner sold 3,000 shares of Arch Capital Group stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total value of $58,980.00. Additional details regarding this sale are available in the official SEC disclosure. 3.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ACGL shares. UBS Group reiterated a “buy” rating and set a $120.00 target price (up from $114.00) on shares of Arch Capital Group in a research report on Wednesday, July 8th. Cantor Fitzgerald restated a “neutral” rating and set a $102.00 price target (up from $100.00) on shares of Arch Capital Group in a research note on Thursday, July 9th. Weiss Ratings downgraded Arch Capital Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Wells Fargo & Company upped their price objective on Arch Capital Group from $110.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Finally, Keefe, Bruyette & Woods dropped their target price on Arch Capital Group from $102.00 to $99.00 and set a “market perform” rating for the company in a report on Wednesday, July 8th. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Arch Capital Group has a consensus rating of “Hold” and an average price target of $109.39.

Arch Capital Group Trading Up 1.3%

Shares of Arch Capital Group stock opened at $101.35 on Friday. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $105.09. The stock has a market capitalization of $35.41 billion, a P/E ratio of 7.78, a price-to-earnings-growth ratio of 5.04 and a beta of 0.31. The company has a 50-day simple moving average of $95.09 and a 200 day simple moving average of $95.63. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.15.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share for the quarter. The firm had revenue of $4.52 billion for the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. Research analysts expect that Arch Capital Group Ltd. will post 9.35 earnings per share for the current fiscal year.

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.