New York Life Investment Management LLC Buys 479 Shares of Arch Capital Group Ltd. $ACGL

New York Life Investment Management LLC raised its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,679 shares of the insurance provider’s stock after purchasing an additional 479 shares during the quarter. New York Life Investment Management LLC’s holdings in Arch Capital Group were worth $5,070,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ACGL. Meeder Asset Management Inc. grew its stake in Arch Capital Group by 116.3% in the first quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 150 shares in the last quarter. Wayfinding Financial LLC bought a new position in shares of Arch Capital Group during the 1st quarter worth approximately $31,000. Zions Bancorporation National Association UT bought a new position in shares of Arch Capital Group during the 1st quarter worth approximately $37,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Arch Capital Group by 3,450.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 414 shares during the period. Finally, Hemington Wealth Management boosted its stake in shares of Arch Capital Group by 27.7% during the 1st quarter. Hemington Wealth Management now owns 548 shares of the insurance provider’s stock worth $52,000 after acquiring an additional 119 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Citigroup reiterated a “market outperform” rating on shares of Arch Capital Group in a research note on Tuesday. The Goldman Sachs Group set a $88.00 target price on Arch Capital Group and gave the stock a “sell” rating in a research note on Tuesday, October 14th. Barclays set a $99.00 target price on Arch Capital Group and gave the stock an “equal weight” rating in a research note on Wednesday, October 8th. Cantor Fitzgerald reiterated a “neutral” rating and set a $98.00 target price on shares of Arch Capital Group in a research note on Tuesday. Finally, UBS Group reiterated a “buy” rating and set a $118.00 target price (down from $124.00) on shares of Arch Capital Group in a research note on Monday, August 4th. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $108.64.

Arch Capital Group Price Performance

Shares of NASDAQ ACGL opened at $85.85 on Thursday. The stock has a market capitalization of $32.04 billion, a PE ratio of 8.03, a P/E/G ratio of 4.90 and a beta of 0.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.55 and a quick ratio of 0.56. The business has a fifty day moving average price of $90.05 and a two-hundred day moving average price of $90.67. Arch Capital Group Ltd. has a fifty-two week low of $82.44 and a fifty-two week high of $105.76.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.77 earnings per share for the quarter, beating the consensus estimate of $1.76 by $1.01. The firm had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Arch Capital Group had a return on equity of 16.38% and a net margin of 20.96%.During the same period in the previous year, the firm earned $1.99 EPS. As a group, equities analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arch Capital Group news, insider Maamoun Rajeh sold 10,000 shares of Arch Capital Group stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total value of $941,500.00. Following the completion of the transaction, the insider directly owned 433,589 shares of the company’s stock, valued at $40,822,404.35. The trade was a 2.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.20% of the stock is owned by corporate insiders.

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.