Global Retirement Partners LLC Acquires 626 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Global Retirement Partners LLC grew its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 9.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,931 shares of the insurance provider’s stock after purchasing an additional 626 shares during the period. Global Retirement Partners LLC’s holdings in Arch Capital Group were worth $775,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ACGL. State Board of Administration of Florida Retirement System raised its stake in Arch Capital Group by 5.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 431,105 shares of the insurance provider’s stock worth $39,851,000 after acquiring an additional 21,332 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Arch Capital Group by 2.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 20,871 shares of the insurance provider’s stock valued at $2,106,000 after purchasing an additional 519 shares during the last quarter. Cetera Advisors LLC boosted its position in Arch Capital Group by 70.9% in the first quarter. Cetera Advisors LLC now owns 13,700 shares of the insurance provider’s stock valued at $1,266,000 after buying an additional 5,684 shares in the last quarter. Consolidated Portfolio Review Corp bought a new stake in shares of Arch Capital Group during the first quarter worth $1,937,000. Finally, Kinsale Capital Group Inc. increased its holdings in shares of Arch Capital Group by 26.0% during the first quarter. Kinsale Capital Group Inc. now owns 43,860 shares of the insurance provider’s stock worth $4,054,000 after buying an additional 9,064 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Activity

In related news, CFO Francois Morin sold 11,460 shares of Arch Capital Group stock in a transaction on Friday, August 16th. The shares were sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the sale, the chief financial officer now owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ACGL. Bank of America boosted their price objective on Arch Capital Group from $119.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. JMP Securities raised their price objective on shares of Arch Capital Group from $115.00 to $125.00 and gave the company a “market outperform” rating in a report on Tuesday, October 15th. Keefe, Bruyette & Woods lifted their target price on shares of Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Barclays began coverage on shares of Arch Capital Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 price target for the company. Finally, Jefferies Financial Group lifted their price target on shares of Arch Capital Group from $114.00 to $134.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Arch Capital Group presently has an average rating of “Moderate Buy” and a consensus target price of $119.53.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $108.53 on Monday. The firm has a 50 day moving average of $110.05 and a 200-day moving average of $101.96. The company has a market cap of $40.75 billion, a price-to-earnings ratio of 8.57, a price-to-earnings-growth ratio of 2.06 and a beta of 0.59. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16. Arch Capital Group Ltd. has a 52 week low of $72.85 and a 52 week high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.36. The firm had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The business’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.92 earnings per share. On average, equities analysts forecast that Arch Capital Group Ltd. will post 9.07 earnings per share for the current year.

About Arch Capital Group

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; 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.