Mackenzie Financial Corp Has $9.35 Million Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Mackenzie Financial Corp increased its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 94.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,665 shares of the insurance provider’s stock after purchasing an additional 45,056 shares during the quarter. Mackenzie Financial Corp’s holdings in Arch Capital Group were worth $9,349,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Gladstone Capital Management LLP boosted its position in shares of Arch Capital Group by 52.8% during the 4th quarter. Gladstone Capital Management LLP now owns 1,385,307 shares of the insurance provider’s stock worth $102,887,000 after acquiring an additional 478,570 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Arch Capital Group by 61.6% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,191,282 shares of the insurance provider’s stock valued at $237,017,000 after purchasing an additional 1,216,080 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Arch Capital Group by 5.2% during the 1st 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 buying an additional 21,332 shares in the last quarter. Alaska Permanent Fund Corp lifted its position in shares of Arch Capital Group by 42.2% during the 1st quarter. Alaska Permanent Fund Corp now owns 54,578 shares of the insurance provider’s stock worth $5,045,000 after buying an additional 16,208 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in shares of Arch Capital Group by 2.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 20,871 shares of the insurance provider’s stock worth $2,106,000 after buying an additional 519 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Francois Morin sold 11,460 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $102.46, for a total value of $1,174,191.60. Following the transaction, the chief financial officer now directly owns 221,779 shares in the company, valued at approximately $22,723,476.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 4.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. JMP Securities raised their target price on shares of Arch Capital Group from $110.00 to $115.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 31st. TD Cowen boosted their price objective on Arch Capital Group from $116.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Bank of America dropped their target price on Arch Capital Group from $119.00 to $118.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. StockNews.com cut Arch Capital Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Arch Capital Group from $110.00 to $120.00 and gave the company a “buy” rating in a report on Monday, July 1st. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Arch Capital Group currently has an average rating of “Moderate Buy” and an average target price of $113.73.

Arch Capital Group Trading Down 1.3 %

NASDAQ:ACGL opened at $111.88 on Tuesday. Arch Capital Group Ltd. has a 12 month low of $72.85 and a 12 month high of $114.69. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $42.01 billion, a price-to-earnings ratio of 8.83, a PEG ratio of 2.05 and a beta of 0.60. The firm has a fifty day simple moving average of $106.05 and a two-hundred day simple moving average of $100.03.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.21 by $0.36. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The company had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period last year, the business posted $1.92 EPS. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. Analysts expect that Arch Capital Group Ltd. will post 9.01 EPS for the current fiscal 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.