Mirae Asset Global Investments Co. Ltd. Increases Stake in Arch Capital Group Ltd. $ACGL

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 11.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 65,095 shares of the insurance provider’s stock after purchasing an additional 6,556 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Arch Capital Group were worth $5,906,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Arch Capital Group by 1.2% during the second quarter. Vanguard Group Inc. now owns 42,414,557 shares of the insurance provider’s stock valued at $3,861,845,000 after buying an additional 493,583 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in Arch Capital Group by 1.7% in the 2nd quarter. Artisan Partners Limited Partnership now owns 23,833,290 shares of the insurance provider’s stock valued at $2,170,021,000 after acquiring an additional 408,950 shares in the last quarter. Geode Capital Management LLC lifted its position in Arch Capital Group by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 10,502,003 shares of the insurance provider’s stock valued at $952,523,000 after acquiring an additional 115,465 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Arch Capital Group by 4.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,830,301 shares of the insurance provider’s stock valued at $712,956,000 after purchasing an additional 359,710 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Arch Capital Group in the 2nd quarter worth $441,551,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Arch Capital Group

In related news, insider John M. Pasquesi sold 203,866 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $93.90, for a total value of $19,143,017.40. Following the transaction, the insider owned 351,356 shares of the company’s stock, valued at approximately $32,992,328.40. This trade represents a 36.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Francois Morin sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $94.62, for a total transaction of $756,960.00. Following the sale, the chief financial officer owned 266,681 shares of the company’s stock, valued at $25,233,356.22. This trade represents a 2.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 220,666 shares of company stock worth $20,728,673 in the last quarter. Company insiders own 4.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Citigroup reaffirmed a “market outperform” rating on shares of Arch Capital Group in a report on Friday, January 16th. Cantor Fitzgerald reissued an “overweight” rating and issued a $97.00 target price (up previously from $93.00) on shares of Arch Capital Group in a research report on Wednesday, January 14th. Mizuho set a $95.00 target price on shares of Arch Capital Group and gave the company a “neutral” rating in a research note on Monday, December 15th. Morgan Stanley set a $125.00 price target on shares of Arch Capital Group in a report on Friday, January 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Arch Capital Group from $111.00 to $117.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. Eight equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $107.53.

Arch Capital Group Trading Up 0.3%

Shares of NASDAQ:ACGL opened at $96.04 on Friday. The stock’s 50-day simple moving average is $93.95 and its two-hundred day simple moving average is $91.17. The stock has a market capitalization of $34.83 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 2.01 and a beta of 0.45. Arch Capital Group Ltd. has a 52-week low of $82.44 and a 52-week high of $97.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.55 and a current ratio of 0.55.

Arch Capital Group Company Profile

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.