The Manufacturers Life Insurance Company Raises Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

The Manufacturers Life Insurance Company boosted its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 3.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 301,598 shares of the insurance provider’s stock after acquiring an additional 10,026 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of Arch Capital Group worth $30,428,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. purchased a new stake in shares of Arch Capital Group during the 2nd quarter valued at $30,000. Baldwin Brothers LLC MA raised its stake in Arch Capital Group by 50.7% in the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock valued at $31,000 after buying an additional 104 shares during the last quarter. Rothschild Investment LLC acquired a new stake in Arch Capital Group in the second quarter worth about $35,000. LRI Investments LLC purchased a new stake in shares of Arch Capital Group during the first quarter worth about $40,000. Finally, Richardson Financial Services Inc. purchased a new stake in shares of Arch Capital Group during the fourth quarter worth about $33,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ACGL shares. Wells Fargo & Company lowered their target price on shares of Arch Capital Group from $111.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. Royal Bank of Canada boosted their price objective on shares of Arch Capital Group from $108.00 to $112.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Keefe, Bruyette & Woods upped their target price on Arch Capital Group from $120.00 to $121.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price target on Arch Capital Group from $106.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, TD Cowen increased their price objective on Arch Capital Group from $116.00 to $138.00 and gave the company a “buy” rating in a report on Friday, September 20th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.73.

Arch Capital Group Stock Down 1.3 %

Shares of ACGL stock opened at $111.88 on Tuesday. Arch Capital Group Ltd. has a twelve month low of $72.85 and a twelve month high of $114.69. The stock has a market cap of $42.01 billion, a P/E ratio of 8.83, a P/E/G ratio of 2.05 and a beta of 0.60. The stock has a 50 day moving average of $106.05 and a 200 day moving average of $100.03. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.16.

Arch Capital Group (NASDAQ:ACGL) last posted its 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. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The firm had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period in the previous year, the firm earned $1.92 EPS. The business’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, sell-side analysts expect that Arch Capital Group Ltd. will post 9.01 EPS for the current year.

Insider Buying and Selling at Arch Capital Group

In other news, CFO Francois Morin sold 11,460 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the sale, the chief financial officer now directly owns 221,779 shares in the company, valued at approximately $22,723,476.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.20% of the stock is owned by corporate insiders.

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.