State of Wisconsin Investment Board boosted its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 28.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 496,029 shares of the insurance provider’s stock after acquiring an additional 109,800 shares during the period. State of Wisconsin Investment Board’s holdings in Arch Capital Group were worth $16,032,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc grew its position in 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 valued at $1,009,802,000 after buying an additional 144,152 shares during the period. BlackRock Inc. grew its position in Arch Capital Group by 4.0% during the first quarter. BlackRock Inc. now owns 28,877,605 shares of the insurance provider’s stock valued at $933,325,000 after buying an additional 1,101,677 shares during the period. Geode Capital Management LLC grew its position in 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 valued at $116,612,000 after buying an additional 307,790 shares during the period. Norges Bank acquired a new stake in Arch Capital Group during the fourth quarter valued at $90,777,000. Finally, Northern Trust Corp grew its position in 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 valued at $75,181,000 after buying an additional 138,636 shares during the period. Institutional investors own 80.04% of the company’s stock.
ACGL has been the topic of several analyst reports. BidaskClub lowered shares of Arch Capital Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of Arch Capital Group from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Thursday, February 14th. Wells Fargo & Co restated a “hold” rating and set a $32.00 price target on shares of Arch Capital Group in a research report on Tuesday, April 30th. ValuEngine upgraded shares of Arch Capital Group from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Finally, JMP Securities reiterated a “hold” rating on shares of Arch Capital Group in a research report on Sunday, February 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Arch Capital Group currently has a consensus rating of “Hold” and a consensus price target of $32.67.
Shares of NASDAQ ACGL traded up $0.02 during trading on Wednesday, hitting $35.02. The company had a trading volume of 16,127 shares, compared to its average volume of 1,139,496. Arch Capital Group Ltd. has a fifty-two week low of $24.79 and a fifty-two week high of $35.83. The firm has a market cap of $14.13 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 1.35 and a beta of 0.64. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.30.
Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Tuesday, April 30th. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.05. Arch Capital Group had a net margin of 17.93% and a return on equity of 10.24%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the business earned $1.69 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities research analysts anticipate that Arch Capital Group Ltd. will post 2.63 EPS for the current fiscal year.
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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