State Board of Administration of Florida Retirement System boosted its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 506,097 shares of the insurance provider’s stock after buying an additional 2,720 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Arch Capital Group were worth $16,357,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in ACGL. Vanguard Group Inc boosted its holdings in shares of Arch Capital Group by 0.4% during the third quarter. Vanguard Group Inc now owns 33,874,589 shares of the insurance provider’s stock worth $1,009,802,000 after acquiring an additional 144,152 shares during the period. BlackRock Inc. boosted its holdings in shares of Arch Capital Group by 4.0% during the fourth quarter. BlackRock Inc. now owns 27,775,928 shares of the insurance provider’s stock worth $742,173,000 after acquiring an additional 1,058,345 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Arch Capital Group by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 4,366,916 shares of the insurance provider’s stock worth $116,612,000 after acquiring an additional 307,790 shares during the period. Norges Bank bought a new stake in shares of Arch Capital Group during the fourth quarter worth approximately $90,777,000. Finally, Northern Trust Corp boosted its holdings in shares of Arch Capital Group by 5.2% during the fourth quarter. Northern Trust Corp now owns 2,813,672 shares of the insurance provider’s stock worth $75,181,000 after acquiring an additional 138,636 shares during the period. 81.04% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ACGL stock opened at $33.89 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market capitalization of $13.45 billion, a P/E ratio of 15.40, a P/E/G ratio of 1.17 and a beta of 0.70. Arch Capital Group Ltd. has a 1 year low of $24.79 and a 1 year high of $34.58.
In related news, Director John D. Vollaro sold 11,500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $34.15, for a total value of $392,725.00. Following the completion of the sale, the director now directly owns 91,800 shares in the company, valued at $3,134,970. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Francois Morin sold 2,648 shares of the company’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $32.14, for a total value of $85,106.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 201,556 shares of company stock valued at $6,770,122. 5.20% of the stock is currently owned by corporate insiders.
A number of brokerages have recently issued reports on ACGL. BidaskClub upgraded Arch Capital Group from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Wells Fargo & Co reiterated a “hold” rating and issued a $32.00 price target on shares of Arch Capital Group in a research note on Tuesday, April 30th. Zacks Investment Research cut Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. JMP Securities reiterated a “hold” rating on shares of Arch Capital Group in a research note on Sunday, February 17th. Finally, ValuEngine upgraded Arch Capital Group from a “strong sell” rating to a “sell” rating in a research note on Saturday, February 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Arch Capital Group currently has an average rating of “Hold” and a consensus price target of $31.00.
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Arch Capital Group Company Profile
Arch Capital Group Ltd., together with its subsidiaries, provides property, casualty, and mortgage insurance and reinsurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; collateral protection, debt cancellation, and service contract reimbursement products; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.
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