103,601 Shares of Arch Capital Group Ltd. $ACGL Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new position in Arch Capital Group Ltd. (NASDAQ:ACGL) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 103,601 shares of the insurance provider’s stock, valued at approximately $9,569,000.

A number of other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Arch Capital Group by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 4,173,885 shares of the insurance provider’s stock valued at $400,643,000 after acquiring an additional 117,929 shares in the last quarter. Madison Asset Management LLC bought a new position in Arch Capital Group in the 2nd quarter valued at approximately $368,808,000. First Trust Advisors LP lifted its position in Arch Capital Group by 319.5% in the 1st quarter. First Trust Advisors LP now owns 2,626,148 shares of the insurance provider’s stock valued at $252,084,000 after acquiring an additional 2,000,162 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Arch Capital Group by 10.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,259,582 shares of the insurance provider’s stock valued at $208,695,000 after purchasing an additional 210,609 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Arch Capital Group by 50.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,910,063 shares of the insurance provider’s stock valued at $183,347,000 after purchasing an additional 641,462 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on ACGL. Bank of America lifted their target price on Arch Capital Group from $129.00 to $131.00 and gave the stock a “buy” rating in a report on Monday, October 12th. Jefferies Financial Group upped their price target on Arch Capital Group from $102.00 to $106.00 and gave the company a “hold” rating in a report on Thursday, October 29th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $106.00 price objective (up from $95.00) on shares of Arch Capital Group in a research report on Tuesday. Weiss Ratings upgraded Arch Capital Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 9th. Finally, Wells Fargo & Company boosted their target price on Arch Capital Group from $107.00 to $119.00 and gave the stock an “overweight” rating in a research report on Monday. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Arch Capital Group has a consensus rating of “Hold” and a consensus price target of $111.65.

Insider Buying and Selling

In other Arch Capital Group news, CFO Francois Morin sold 11,010 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $99.32, for a total value of $1,093,513.20. Following the transaction, the chief financial officer owned 184,826 shares of the company’s stock, valued at approximately $18,356,918.32. This represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.30% of the company’s stock.

Arch Capital Group Price Performance

Shares of ACGL opened at $110.68 on Thursday. The firm has a fifty day simple moving average of $98.47 and a two-hundred day simple moving average of $97.04. The firm has a market cap of $37.77 billion, a PE ratio of 9.05, a P/E/G ratio of 3.57 and a beta of 0.22. The company has a current ratio of 0.56, a quick ratio of 0.57 and a debt-to-equity ratio of 0.21. Arch Capital Group Ltd. has a 1-year low of $87.05 and a 1-year high of $110.73.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, October 27th. The insurance provider reported $2.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.36. Arch Capital Group had a return on equity of 16.62% and a net margin of 23.31%. The firm had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same period last year, the business posted $2.77 EPS. On average, equities analysts anticipate that Arch Capital Group Ltd. will post 10.08 EPS for the current year.

Arch Capital Group Profile

Arch Capital Group Ltd. is a Bermuda-based insurance, reinsurance and mortgage insurance company whose shares trade on the Nasdaq under the symbol ACGL. The company was established in 1995 and has developed into a global provider of specialty risk-management products and services.

Through its insurance operations, Arch offers property, casualty, specialty, and accident and health coverage to businesses and other policyholders. Its reinsurance operations provide coverage and risk-transfer solutions to insurance companies across a range of property and casualty lines.