Nisa Investment Advisors LLC Raises Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Nisa Investment Advisors LLC increased its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 29.6% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 116,602 shares of the insurance provider’s stock after acquiring an additional 26,630 shares during the period. Nisa Investment Advisors LLC’s holdings in Arch Capital Group were worth $11,764,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ACGL. International Assets Investment Management LLC acquired a new position in Arch Capital Group during the 4th quarter worth $398,000. Mackenzie Financial Corp grew its stake in Arch Capital Group by 1.9% in the fourth quarter. Mackenzie Financial Corp now owns 41,898 shares of the insurance provider’s stock worth $3,112,000 after purchasing an additional 771 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Arch Capital Group by 6.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 33,561 shares of the insurance provider’s stock valued at $2,492,000 after buying an additional 2,095 shares during the last quarter. Federated Hermes Inc. raised its stake in Arch Capital Group by 106.0% during the fourth quarter. Federated Hermes Inc. now owns 253,262 shares of the insurance provider’s stock valued at $18,810,000 after buying an additional 130,342 shares in the last quarter. Finally, abrdn plc lifted its holdings in Arch Capital Group by 73.6% during the 4th quarter. abrdn plc now owns 190,773 shares of the insurance provider’s stock worth $14,169,000 after buying an additional 80,906 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Bank of America lowered their price target on Arch Capital Group from $119.00 to $118.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Evercore ISI increased their target price on shares of Arch Capital Group from $100.00 to $104.00 and gave the stock an “in-line” rating in a report on Wednesday, July 31st. Royal Bank of Canada lifted their price target on shares of Arch Capital Group from $108.00 to $112.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Roth Mkm reiterated a “buy” rating and set a $110.00 price objective on shares of Arch Capital Group in a research note on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Arch Capital Group currently has an average rating of “Moderate Buy” and an average price target of $105.56.

Arch Capital Group Price Performance

Shares of Arch Capital Group stock traded up $0.16 on Monday, hitting $102.71. The company had a trading volume of 444,447 shares, compared to its average volume of 1,645,737. Arch Capital Group Ltd. has a 52 week low of $72.85 and a 52 week high of $103.79. The company has a market cap of $38.63 billion, a PE ratio of 8.09, a PEG ratio of 1.83 and a beta of 0.58. The business has a 50-day simple moving average of $98.60 and a 200-day simple moving average of $94.62. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.60.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.36. The firm had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the firm posted $1.92 earnings per share. Research analysts expect that Arch Capital Group Ltd. will post 9 EPS for the current fiscal 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.