Illinois Municipal Retirement Fund Acquires 18,613 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Illinois Municipal Retirement Fund boosted its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 15.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 137,981 shares of the insurance provider’s stock after purchasing an additional 18,613 shares during the period. Illinois Municipal Retirement Fund’s holdings in Arch Capital Group were worth $13,921,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UMB Bank n.a. bought a new position in shares of Arch Capital Group in the second quarter worth approximately $30,000. Baldwin Brothers LLC MA boosted its position in Arch Capital Group by 50.7% during the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 104 shares in the last quarter. Richardson Financial Services Inc. bought a new position in Arch Capital Group in the fourth quarter worth $33,000. Rothschild Investment LLC purchased a new position in Arch Capital Group during the 2nd quarter valued at about $35,000. Finally, LRI Investments LLC bought a new stake in shares of Arch Capital Group in the 1st quarter worth approximately $38,000. Institutional investors own 89.07% of the company’s stock.

Insider Activity

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the transaction, the chief financial officer now owns 221,779 shares in the company, valued at approximately $22,723,476.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

ACGL has been the topic of a number of research reports. Keefe, Bruyette & Woods raised their price target on Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Roth Mkm boosted their price objective on Arch Capital Group from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Wells Fargo & Company cut 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. Evercore ISI lifted their price target on Arch Capital Group from $100.00 to $104.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 31st. Finally, Barclays initiated coverage on Arch Capital Group in a research report on Wednesday. They issued an “equal weight” rating and a $120.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Arch Capital Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.44.

Arch Capital Group Trading Down 1.6 %

Shares of ACGL stock traded down $1.74 on Friday, reaching $110.45. 1,211,501 shares of the stock were exchanged, compared to its average volume of 1,627,596. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16. Arch Capital Group Ltd. has a 1-year low of $72.85 and a 1-year high of $114.65. The stock has a market cap of $41.47 billion, a P/E ratio of 8.72, a price-to-earnings-growth ratio of 2.05 and a beta of 0.60. The firm has a 50 day moving average of $101.36 and a two-hundred day moving average of $97.13.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. The firm had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.89 billion. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. Arch Capital Group’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.92 earnings per share. On average, research analysts anticipate that Arch Capital Group Ltd. will post 9.01 EPS for the current year.

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.