Illinois Municipal Retirement Fund Buys 19,229 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Illinois Municipal Retirement Fund boosted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 18.4% during the fourth quarter, Holdings Channel reports. The fund owned 123,672 shares of the insurance provider’s stock after acquiring an additional 19,229 shares during the period. Illinois Municipal Retirement Fund’s holdings in Arch Capital Group were worth $9,185,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Arch Capital Group in the 4th quarter valued at about $27,000. Steward Financial Group LLC boosted its stake in shares of Arch Capital Group by 180.7% in the 3rd quarter. Steward Financial Group LLC now owns 525 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 338 shares during the last quarter. CVA Family Office LLC bought a new position in shares of Arch Capital Group in the 4th quarter valued at about $47,000. Covestor Ltd boosted its stake in shares of Arch Capital Group by 342.9% in the 3rd quarter. Covestor Ltd now owns 899 shares of the insurance provider’s stock valued at $72,000 after purchasing an additional 696 shares during the last quarter. Finally, Operose Advisors LLC bought a new position in shares of Arch Capital Group in the 3rd quarter valued at about $75,000. Institutional investors own 89.07% of the company’s stock.

Arch Capital Group Price Performance

Shares of ACGL opened at $93.78 on Wednesday. The stock has a market capitalization of $35.18 billion, a P/E ratio of 8.07, a P/E/G ratio of 1.17 and a beta of 0.57. Arch Capital Group Ltd. has a twelve month low of $69.05 and a twelve month high of $95.01. The company has a 50 day moving average of $89.96 and a 200-day moving average of $84.22. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.17.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Thursday, February 15th. The insurance provider reported $2.49 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.55. Arch Capital Group had a net margin of 32.59% and a return on equity of 21.94%. The business had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.67 billion. During the same period last year, the business earned $2.14 earnings per share. As a group, equities research analysts forecast that Arch Capital Group Ltd. will post 8.03 EPS for the current fiscal year.

Insider Activity at Arch Capital Group

In related news, insider Nicolas Papadopoulo sold 60,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $87.52, for a total value of $5,251,200.00. Following the completion of the transaction, the insider now directly owns 651,931 shares of the company’s stock, valued at $57,057,001.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Nicolas Papadopoulo sold 60,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $87.52, for a total value of $5,251,200.00. Following the completion of the transaction, the insider now directly owns 651,931 shares of the company’s stock, valued at $57,057,001.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Francois Morin sold 25,689 shares of Arch Capital Group stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $87.47, for a total transaction of $2,247,016.83. Following the transaction, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at $19,399,009.13. The disclosure for this sale can be found here. Over the last three months, insiders sold 135,689 shares of company stock valued at $11,872,217. 4.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ACGL has been the topic of several recent research reports. TD Cowen initiated coverage on shares of Arch Capital Group in a research note on Wednesday, January 10th. They issued an “outperform” rating and a $96.00 target price on the stock. Wells Fargo & Company increased their price target on shares of Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Morgan Stanley increased their price target on shares of Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $98.00 price target on shares of Arch Capital Group in a research report on Friday, February 16th. Finally, Citigroup cut their price target on shares of Arch Capital Group from $91.00 to $89.00 and set a “neutral” rating on the stock in a research report on Monday, January 22nd. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $96.23.

Arch Capital Group Company Profile

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.