VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 209,000 Arch Capital Group Ltd. $ACGL

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Arch Capital Group Ltd. (NASDAQ:ACGL) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 209,000 shares of the insurance provider’s stock, valued at approximately $20,286,000.

Several other hedge funds have also modified their holdings of the company. Elyxium Wealth LLC bought a new stake in shares of Arch Capital Group in the 4th quarter valued at about $27,000. Torren Management LLC raised its stake in shares of Arch Capital Group by 66.9% during the 2nd quarter. Torren Management LLC now owns 292 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 117 shares in the last quarter. WealthCollab LLC raised its stake in shares of Arch Capital Group by 410.3% during the 3rd quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 238 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in Arch Capital Group during the third quarter valued at approximately $28,000. Finally, Zions Bancorporation National Association UT grew its holdings in Arch Capital Group by 390.9% in the fourth quarter. Zions Bancorporation National Association UT now owns 324 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 258 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ACGL has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Arch Capital Group in a research report on Thursday, August 13th. JPMorgan Chase & Co. raised their price objective on Arch Capital Group from $116.00 to $118.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Morgan Stanley boosted their target price on Arch Capital Group from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Cantor Fitzgerald upped their target price on Arch Capital Group from $102.00 to $110.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Finally, Mizuho increased their price target on Arch Capital Group from $101.00 to $104.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $111.11.

Arch Capital Group Stock Performance

Shares of ACGL opened at $98.10 on Tuesday. Arch Capital Group Ltd. has a one year low of $82.44 and a one year high of $107.08. The stock has a 50-day moving average of $100.16 and a two-hundred day moving average of $96.77. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a market cap of $33.47 billion, a P/E ratio of 7.67, a P/E/G ratio of 4.83 and a beta of 0.30.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.09. Arch Capital Group had a net margin of 24.40% and a return on equity of 17.06%. The company had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same period last year, the firm posted $2.58 EPS. As a group, research analysts predict that Arch Capital Group Ltd. will post 9.44 EPS for the current year.

Insider Buying and Selling at Arch Capital Group

In related news, CFO Francois Morin sold 11,010 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $99.32, for a total transaction of $1,093,513.20. Following the completion of the transaction, the chief financial officer owned 184,826 shares of the company’s stock, valued at $18,356,918.32. This trade represents a 5.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.30% of the stock is owned by insiders.

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.