Illinois Municipal Retirement Fund Sells 50,063 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Illinois Municipal Retirement Fund lessened its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 33.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 99,332 shares of the insurance provider’s stock after selling 50,063 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Arch Capital Group were worth $9,173,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp increased its stake in Arch Capital Group by 1.1% in the 3rd quarter. State Street Corp now owns 16,587,446 shares of the insurance provider’s stock worth $1,855,803,000 after buying an additional 172,628 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Arch Capital Group by 2.4% in the third quarter. Geode Capital Management LLC now owns 10,830,263 shares of the insurance provider’s stock valued at $1,208,307,000 after purchasing an additional 253,648 shares during the period. Principal Financial Group Inc. grew its stake in Arch Capital Group by 10.5% in the fourth quarter. Principal Financial Group Inc. now owns 8,222,244 shares of the insurance provider’s stock worth $759,324,000 after purchasing an additional 783,506 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Arch Capital Group by 4.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,350,868 shares of the insurance provider’s stock valued at $488,992,000 after purchasing an additional 226,617 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Arch Capital Group by 245.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,739 shares of the insurance provider’s stock worth $341,652,000 after buying an additional 2,168,897 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Stock Up 0.9 %

NASDAQ:ACGL opened at $90.35 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.54 and a quick ratio of 0.58. The company’s fifty day moving average price is $91.92 and its 200-day moving average price is $100.56. Arch Capital Group Ltd. has a 1-year low of $86.16 and a 1-year high of $116.47. The firm has a market capitalization of $33.99 billion, a P/E ratio of 8.07, a PEG ratio of 2.31 and a beta of 0.64.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Monday, February 10th. The insurance provider reported $2.26 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.36. Arch Capital Group had a return on equity of 17.96% and a net margin of 24.73%. During the same quarter in the prior year, the company posted $2.45 EPS. As a group, equities research analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Analyst Ratings Changes

ACGL has been the topic of several research reports. Royal Bank of Canada cut their price target on Arch Capital Group from $125.00 to $110.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 12th. JMP Securities reiterated a “market outperform” rating and set a $125.00 price objective on shares of Arch Capital Group in a research note on Tuesday, February 11th. JPMorgan Chase & Co. dropped their price objective on Arch Capital Group from $110.00 to $106.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Barclays decreased their price objective on Arch Capital Group from $120.00 to $100.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Finally, Wells Fargo & Company lowered their price target on Arch Capital Group from $107.00 to $106.00 and set an “overweight” rating for the company in a report on Wednesday, February 12th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Arch Capital Group currently has a consensus rating of “Moderate Buy” and an average price target of $117.19.

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.