South Dakota Investment Council Has $20.92 Million Stock Holdings in Arch Capital Group Ltd. $ACGL

South Dakota Investment Council grew its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 12.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 230,571 shares of the insurance provider’s stock after buying an additional 26,104 shares during the period. South Dakota Investment Council owned approximately 0.06% of Arch Capital Group worth $20,920,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Cornerstone Planning Group LLC increased its holdings in shares of 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 in the last quarter. Quent Capital LLC acquired a new position in shares of Arch Capital Group in the 3rd quarter valued at approximately $37,000. Richardson Financial Services Inc. increased its stake in Arch Capital Group by 63.3% during the 3rd quarter. Richardson Financial Services Inc. now owns 418 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 162 shares in the last quarter. 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 worth $43,000 after buying an additional 112 shares during the period. Finally, Root Financial Partners LLC bought a new position in Arch Capital Group in the third quarter valued at approximately $54,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Price Performance

NASDAQ:ACGL opened at $101.06 on Tuesday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $96.16 and a 200 day simple moving average of $92.75. Arch Capital Group Ltd. has a 1-year low of $82.44 and a 1-year high of $103.39. The stock has a market capitalization of $36.65 billion, a PE ratio of 8.70, a P/E/G ratio of 4.02 and a beta of 0.42.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Monday, February 9th. The insurance provider reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.64. The company had revenue of $4.93 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Arch Capital Group had a return on equity of 16.73% and a net margin of 22.07%.During the same period last year, the firm posted $2.26 earnings per share. On average, research analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ACGL. Citigroup reissued a “buy” rating and set a $120.00 price objective (up from $113.00) on shares of Arch Capital Group in a research report on Friday, February 13th. Barclays set a $104.00 target price on Arch Capital Group and gave the stock an “equal weight” rating in a report on Thursday, January 8th. Roth Mkm set a $110.00 price target on Arch Capital Group and gave the company a “buy” rating in a report on Tuesday, December 2nd. Wells Fargo & Company increased their price objective on Arch Capital Group from $106.00 to $109.00 and gave the stock an “overweight” rating in a report on Wednesday, February 11th. Finally, Evercore set a $100.00 target price on Arch Capital Group and gave the company an “in-line” rating in a research note 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $109.20.

Insider Buying and Selling

In other news, insider Maamoun Rajeh sold 47,430 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $96.12, for a total transaction of $4,558,971.60. Following the transaction, the insider owned 433,589 shares in the company, valued at approximately $41,676,574.68. This trade represents a 9.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John M. Pasquesi sold 203,866 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $93.90, for a total value of $19,143,017.40. Following the completion of the sale, the insider owned 351,356 shares of the company’s stock, valued at $32,992,328.40. This trade represents a 36.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 260,096 shares of company stock worth $24,530,685. 4.20% of the stock is owned by corporate insiders.

Arch Capital Group 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.