Saudi Central Bank Purchases 10,931 Shares of Arch Capital Group Ltd. $ACGL

Saudi Central Bank boosted its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 81.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,316 shares of the insurance provider’s stock after buying an additional 10,931 shares during the quarter. Saudi Central Bank’s holdings in Arch Capital Group were worth $2,360,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Legal & General Group Plc boosted its stake in Arch Capital Group by 4.3% during the 4th quarter. Legal & General Group Plc now owns 2,944,169 shares of the insurance provider’s stock valued at $282,405,000 after purchasing an additional 121,090 shares during the period. National Pension Service increased its position in Arch Capital Group by 8.5% in the 4th quarter. National Pension Service now owns 683,272 shares of the insurance provider’s stock worth $65,539,000 after buying an additional 53,661 shares during the period. Assenagon Asset Management S.A. increased its position in Arch Capital Group by 295.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 50,073 shares of the insurance provider’s stock worth $4,860,000 after buying an additional 37,416 shares during the period. Schwartz Investment Counsel Inc. acquired a new position in shares of Arch Capital Group during the fourth quarter worth approximately $9,592,000. Finally, Banque Cantonale Vaudoise lifted its holdings in shares of Arch Capital Group by 58.3% during the fourth quarter. Banque Cantonale Vaudoise now owns 45,383 shares of the insurance provider’s stock worth $4,353,000 after buying an additional 16,713 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In other Arch Capital Group news, CFO Francois Morin sold 11,010 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $99.32, for a total value of $1,093,513.20. Following the sale, the chief financial officer directly owned 184,826 shares in the company, valued at $18,356,918.32. This represents a 5.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.30% of the stock is owned by company insiders.

Arch Capital Group Price Performance

Shares of ACGL opened at $98.10 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $100.16 and a two-hundred day moving average price of $96.77. The stock has a market cap of $33.47 billion, a price-to-earnings ratio of 7.67, a P/E/G ratio of 4.83 and a beta of 0.30. Arch Capital Group Ltd. has a 12 month low of $82.44 and a 12 month high of $107.08.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.09. Arch Capital Group had a return on equity of 17.06% and a net margin of 24.40%.The business had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same period in the prior year, the firm posted $2.58 EPS. Equities analysts predict that Arch Capital Group Ltd. will post 9.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Arch Capital Group in a research report on Thursday, August 13th. Keefe, Bruyette & Woods cut their target price on shares of Arch Capital Group from $102.00 to $99.00 and set a “market perform” rating for the company in a research note on Wednesday, July 8th. JPMorgan Chase & Co. increased their price target on shares of Arch Capital Group from $116.00 to $118.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Cantor Fitzgerald raised their price target on shares of Arch Capital Group from $102.00 to $110.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Finally, Citigroup restated a “market outperform” rating on shares of Arch Capital Group in a report on Wednesday, July 29th. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Arch Capital Group currently has a consensus rating of “Hold” and an average price target of $111.11.

About Arch Capital Group

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.