Texas Permanent School Fund Corp trimmed its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL – Free Report) by 1.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 77,088 shares of the insurance provider’s stock after selling 1,033 shares during the period. Texas Permanent School Fund Corp’s holdings in Arch Capital Group were worth $6,145,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the company. Millington Financial Advisors LLC purchased a new stake in Arch Capital Group in the third quarter worth about $1,030,000. Wakefield Asset Management LLLP purchased a new stake in Arch Capital Group in the second quarter worth about $2,578,000. AdvisorNet Financial Inc lifted its holdings in Arch Capital Group by 3.2% in the third quarter. AdvisorNet Financial Inc now owns 14,900 shares of the insurance provider’s stock worth $1,188,000 after buying an additional 460 shares during the period. Amalgamated Bank lifted its holdings in Arch Capital Group by 18.0% in the third quarter. Amalgamated Bank now owns 114,030 shares of the insurance provider’s stock worth $9,089,000 after buying an additional 17,395 shares during the period. Finally, Jefferies Financial Group Inc. increased its stake in shares of Arch Capital Group by 3,472.0% during the second quarter. Jefferies Financial Group Inc. now owns 128,236 shares of the insurance provider’s stock valued at $9,598,000 after purchasing an additional 124,646 shares in the last quarter. 87.21% of the stock is currently owned by hedge funds and other institutional investors.
Arch Capital Group Price Performance
Shares of ACGL opened at $83.46 on Monday. The company has a 50 day moving average price of $78.30 and a 200-day moving average price of $79.92. Arch Capital Group Ltd. has a fifty-two week low of $62.10 and a fifty-two week high of $90.65. The stock has a market capitalization of $31.14 billion, a PE ratio of 10.76, a PEG ratio of 1.07 and a beta of 0.57. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.57 and a current ratio of 0.57.
Insider Buying and Selling
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on ACGL. Evercore ISI began coverage on shares of Arch Capital Group in a research note on Thursday, December 14th. They set an “inline” rating and a $88.00 target price for the company. TD Cowen initiated coverage on shares of Arch Capital Group in a research report on Wednesday, January 10th. They set an “outperform” rating and a $96.00 price target for the company. Citigroup reduced their price target on shares of Arch Capital Group from $91.00 to $89.00 and set a “neutral” rating for the company in a research report on Monday, January 22nd. Barclays raised their price target on shares of Arch Capital Group from $96.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, November 1st. Finally, Royal Bank of Canada raised their price target on shares of Arch Capital Group from $90.00 to $98.00 and gave the company an “outperform” rating in a research report on Wednesday, November 1st. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Arch Capital Group has an average rating of “Moderate Buy” and a consensus price target of $91.43.
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; collateral protection, debt cancellation, and service contract reimbursement products; 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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