American International Group Inc. decreased its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 4.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,194 shares of the insurance provider’s stock after selling 353 shares during the period. American International Group Inc.’s holdings in Arch Capital Group were worth $777,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the stock. Guggenheim Capital LLC raised its stake in shares of Arch Capital Group by 9.9% in the fourth quarter. Guggenheim Capital LLC now owns 33,915 shares of the insurance provider’s stock valued at $2,927,000 after buying an additional 3,049 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in shares of Arch Capital Group by 151.7% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 11,604 shares of the insurance provider’s stock valued at $1,100,000 after buying an additional 6,994 shares during the last quarter. Eagle Asset Management Inc. increased its position in Arch Capital Group by 87.0% in the first quarter. Eagle Asset Management Inc. now owns 114,756 shares of the insurance provider’s stock valued at $9,383,000 after buying an additional 53,384 shares during the period. Norges Bank acquired a new position in Arch Capital Group during the fourth quarter valued at approximately $107,240,000. Finally, World Asset Management Inc increased its position in Arch Capital Group by 2.2% in the first quarter. World Asset Management Inc now owns 4,885 shares of the insurance provider’s stock valued at $463,000 after buying an additional 104 shares during the period. Institutional investors and hedge funds own 73.09% of the company’s stock.
Shares of Arch Capital Group Ltd. (NASDAQ ACGL) traded up 1.37% during mid-day trading on Friday, hitting $95.91. 488,554 shares of the stock were exchanged. Arch Capital Group Ltd. has a 12 month low of $72.11 and a 12 month high of $99.47. The firm has a market cap of $12.90 billion, a P/E ratio of 17.44 and a beta of 0.66. The stock’s 50 day moving average is $95.26 and its 200 day moving average is $94.12.
Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.28 billion. Arch Capital Group had a return on equity of 9.09% and a net margin of 15.65%. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.13 earnings per share. Analysts expect that Arch Capital Group Ltd. will post $5.36 EPS for the current fiscal year.
Several research analysts have commented on ACGL shares. Morgan Stanley lifted their price target on shares of Arch Capital Group from $90.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Friday, April 28th. Wells Fargo & Company reissued a “hold” rating on shares of Arch Capital Group in a research note on Wednesday, June 7th. Keefe, Bruyette & Woods set a $95.00 price target on shares of Arch Capital Group and gave the stock a “hold” rating in a research note on Thursday, April 6th. BidaskClub raised shares of Arch Capital Group from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, Zacks Investment Research downgraded shares of Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. Arch Capital Group presently has an average rating of “Hold” and a consensus price target of $92.09.
In other news, Director John D. Vollaro sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $97.01, for a total transaction of $485,050.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Nicolas Papadopoulo sold 15,500 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $96.67, for a total value of $1,498,385.00. Following the transaction, the chief executive officer now owns 244,436 shares in the company, valued at approximately $23,629,628.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 163,789 shares of company stock worth $15,639,880. Insiders own 6.60% of the company’s stock.
Arch Capital Group Company Profile
Arch Capital Group Ltd. provides insurance, reinsurance and mortgage insurance. The Company provides a range of property, casualty and mortgage insurance and reinsurance lines. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The insurance segment’s product lines include construction and national accounts; excess and surplus casualty; lenders products; professional lines; programs; property, energy, marine and aviation; travel, accident and health, and other.
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