Illinois Municipal Retirement Fund Purchases 10,117 Shares of Arch Capital Group Ltd. $ACGL

Illinois Municipal Retirement Fund raised its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 7.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 154,962 shares of the insurance provider’s stock after buying an additional 10,117 shares during the period. Illinois Municipal Retirement Fund’s holdings in Arch Capital Group were worth $14,060,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in ACGL. Cornerstone Planning Group LLC raised its position in Arch Capital Group by 426.0% in the third quarter. Cornerstone Planning Group LLC now owns 384 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 311 shares during the period. Quent Capital LLC purchased a new stake in shares of Arch Capital Group during the 3rd quarter valued at approximately $37,000. Richardson Financial Services Inc. boosted its holdings in Arch Capital Group by 63.3% in the 3rd quarter. Richardson Financial Services Inc. now owns 418 shares of the insurance provider’s stock worth $38,000 after buying an additional 162 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in Arch Capital Group by 3,450.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the insurance provider’s stock valued at $39,000 after buying an additional 414 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its holdings in Arch Capital Group by 31.4% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 469 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 112 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Francois Morin sold 8,000 shares of the company’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $94.62, for a total value of $756,960.00. Following the completion of the transaction, the chief financial officer directly owned 266,681 shares in the company, valued at approximately $25,233,356.22. This represents a 2.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John M. Pasquesi sold 8,800 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $94.17, for a total value of $828,696.00. Following the transaction, the insider directly owned 289,556 shares in the company, valued at approximately $27,267,488.52. This represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 220,666 shares of company stock valued at $20,728,673 over the last ninety days. 4.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ACGL shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $97.00 price target (up from $93.00) on shares of Arch Capital Group in a report on Wednesday, January 14th. Wells Fargo & Company raised their target price on Arch Capital Group from $106.00 to $109.00 and gave the stock an “overweight” rating in a research note on Wednesday. Mizuho lifted their target price on Arch Capital Group from $95.00 to $102.00 and gave the company a “neutral” rating in a report on Thursday. Roth Mkm set a $110.00 price target on shares of Arch Capital Group and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $93.00 price objective (up from $84.00) on shares of Arch Capital Group in a research report on Wednesday, January 7th. Nine investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $108.67.

Arch Capital Group Stock Performance

Shares of ACGL opened at $99.85 on Friday. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $103.39. The company has a current ratio of 0.53, a quick ratio of 0.55 and a debt-to-equity ratio of 0.13. The company has a market cap of $36.21 billion, a PE ratio of 8.59, a price-to-earnings-growth ratio of 3.95 and a beta of 0.42. The stock has a 50-day moving average price of $95.00 and a 200-day moving average price of $91.80.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Monday, February 9th. The insurance provider reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.64. Arch Capital Group had a net margin of 22.07% and a return on equity of 16.73%. The business had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period last year, the firm posted $2.26 earnings per share. As a group, equities analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

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.