New York State Common Retirement Fund Has $49.02 Million Stock Position in Arch Capital Group Ltd. $ACGL
New York State Common Retirement Fund increased its stake in Arch Capital Group Ltd. by 13.9% in Q2, owning 538,327 shares worth $49.02 million. Institutional investors hold 89.07% of the company's stock. Arch Capital's recent earnings exceeded expectations, with a net margin of 20.96% and a return on equity of 16.38%. Analysts have mixed ratings, with a consensus "Hold" and an average target price of $106.58.
New York State Common Retirement Fund grew its position in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 13.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 538,327 shares of the insurance provider's stock after acquiring an additional 65,877 shares during the quarter. New York State Common Retirement Fund owned 0.14% of Arch Capital Group worth $49,015,000 as of its most recent SEC filing.
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Several other institutional investors also recently modified their holdings of the company. Zions Bancorporation National Association UT bought a new stake in shares of Arch Capital Group during the first quarter valued at approximately $37,000. Caitong International Asset Management Co. Ltd boosted its stake in Arch Capital Group by 3,450.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the insurance provider's stock worth $39,000 after buying an additional 414 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in Arch Capital Group by 31.4% during the second quarter. TD Waterhouse Canada Inc. now owns 469 shares of the insurance provider's stock worth $43,000 after buying an additional 112 shares in the last quarter. Hemington Wealth Management increased its holdings in Arch Capital Group by 27.7% in the 1st quarter. Hemington Wealth Management now owns 548 shares of the insurance provider's stock valued at $52,000 after buying an additional 119 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in Arch Capital Group by 157.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider's stock valued at $65,000 after buying an additional 412 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.
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Arch Capital Group Price Performance
NASDAQ:ACGL opened at $91.12 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.55 and a debt-to-equity ratio of 0.13. The firm has a market cap of $33.04 billion, a PE ratio of 8.52, a price-to-earnings-growth ratio of 3.24 and a beta of 0.47. Arch Capital Group Ltd. has a 12 month low of $82.44 and a 12 month high of $101.28. The company's 50-day moving average price is $89.91 and its two-hundred day moving average price is $90.40.
Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.77 earnings per share for the quarter, topping the consensus estimate of $1.76 by $1.01. Arch Capital Group had a net margin of 20.96% and a return on equity of 16.38%. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter last year, the business posted $1.99 earnings per share. On average, equities analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms have recently commented on ACGL. UBS Group reaffirmed a "buy" rating and set a $118.00 price objective (down from $124.00) on shares of Arch Capital Group in a report on Monday, August 4th. Morgan Stanley increased their price target on shares of Arch Capital Group from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Monday, November 17th. Citigroup restated a "market outperform" rating on shares of Arch Capital Group in a research note on Tuesday, October 28th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Arch Capital Group in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company dropped their target price on Arch Capital Group from $111.00 to $106.00 and set an "overweight" rating for the company in a report on Wednesday, October 29th. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $106.58.
Check Out Our Latest Report on Arch Capital Group
Arch Capital Group Profile
(Free Report)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.
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