New York State Common Retirement Fund Buys 191,002 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

New York State Common Retirement Fund boosted its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 83.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 420,252 shares of the insurance provider’s stock after acquiring an additional 191,002 shares during the period. New York State Common Retirement Fund owned approximately 0.11% of Arch Capital Group worth $38,810,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in Arch Capital Group by 3.5% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 197,111 shares of the insurance provider’s stock worth $18,203,000 after acquiring an additional 6,663 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Arch Capital Group by 5.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 111,229 shares of the insurance provider’s stock worth $12,444,000 after acquiring an additional 5,614 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Arch Capital Group by 10.0% during the third quarter. PNC Financial Services Group Inc. now owns 71,721 shares of the insurance provider’s stock worth $8,024,000 after acquiring an additional 6,521 shares in the last quarter. Pittenger & Anderson Inc. lifted its holdings in Arch Capital Group by 56.6% during the fourth quarter. Pittenger & Anderson Inc. now owns 6,720 shares of the insurance provider’s stock worth $621,000 after acquiring an additional 2,430 shares in the last quarter. Finally, Metis Global Partners LLC lifted its holdings in Arch Capital Group by 26.6% during the third quarter. Metis Global Partners LLC now owns 25,465 shares of the insurance provider’s stock worth $2,849,000 after acquiring an additional 5,345 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ACGL has been the topic of several recent analyst reports. Barclays reduced their target price on Arch Capital Group from $120.00 to $100.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company dropped their price target on Arch Capital Group from $107.00 to $106.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 12th. StockNews.com downgraded Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Royal Bank of Canada dropped 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. Finally, JPMorgan Chase & Co. dropped their price target on Arch Capital Group from $110.00 to $106.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $117.19.

Arch Capital Group Price Performance

NASDAQ:ACGL opened at $89.09 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.58 and a current ratio of 0.54. The stock’s 50-day simple moving average is $92.07 and its 200 day simple moving average is $100.68. The company has a market cap of $33.52 billion, a P/E ratio of 7.95, a P/E/G ratio of 2.28 and a beta of 0.64. Arch Capital Group Ltd. has a 52-week low of $83.97 and a 52-week high of $116.47.

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 analysts’ consensus estimates 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 firm earned $2.45 EPS. As a group, sell-side analysts forecast that Arch Capital Group Ltd. will post 8.54 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.