MARSHALL WACE ASIA Ltd Buys New Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

MARSHALL WACE ASIA Ltd purchased a new stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,265 shares of the insurance provider’s stock, valued at approximately $500,000.

Several other hedge funds have also recently added to or reduced their stakes in ACGL. Global X Management Co. LLC raised its position in shares of Arch Capital Group by 29.0% in the first quarter. Global X Management Co. LLC now owns 8,787 shares of the insurance provider’s stock valued at $833,000 after buying an additional 1,973 shares during the last quarter. Banque Pictet & Cie SA bought a new position in shares of Arch Capital Group during the first quarter valued at approximately $1,027,000. Pictet North America Advisors SA bought a new position in shares of Arch Capital Group during the first quarter valued at approximately $1,027,000. Legal & General Group Plc raised its position in shares of Arch Capital Group by 7.7% in the first quarter. Legal & General Group Plc now owns 677,060 shares of the insurance provider’s stock valued at $64,162,000 after buying an additional 48,635 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in shares of Arch Capital Group by 5.5% in the first quarter. Teachers Advisors LLC now owns 383,749 shares of the insurance provider’s stock valued at $36,368,000 after buying an additional 19,995 shares during the last quarter. 73.09% of the stock is owned by institutional investors and hedge funds.

Shares of Arch Capital Group Ltd. (ACGL) traded up 1.37% during midday trading on Friday, hitting $95.91. 488,554 shares of the stock were exchanged. The firm has a 50 day moving average of $95.26 and a 200-day moving average of $94.12. Arch Capital Group Ltd. has a one year low of $72.11 and a one year high of $99.47. The company has a market cap of $12.90 billion, a price-to-earnings ratio of 17.44 and a beta of 0.66.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.01. Arch Capital Group had a return on equity of 9.09% and a net margin of 15.65%. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the business earned $1.13 earnings per share. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. Equities analysts expect that Arch Capital Group Ltd. will post $5.36 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “MARSHALL WACE ASIA Ltd Buys New Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)” was posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The legal version of this story can be read at https://www.chaffeybreeze.com/2017/07/29/marshall-wace-asia-ltd-takes-position-in-arch-capital-group-ltd-nasdaqacgl-updated-updated-updated.html.

A number of equities analysts have issued reports on ACGL shares. Wells Fargo & Company reissued a “hold” rating on shares of Arch Capital Group in a research report on Wednesday. Keefe, Bruyette & Woods reissued a “hold” rating and set a $95.00 price target on shares of Arch Capital Group in a research report on Tuesday, July 4th. BidaskClub raised shares of Arch Capital Group from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Zacks Investment Research lowered shares of Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Finally, Morgan Stanley raised 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 report on Friday, April 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $92.09.

In related news, CEO Nicolas Papadopoulo sold 15,500 shares of the company’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $96.67, for a total transaction of $1,498,385.00. Following the transaction, the chief executive officer now owns 244,436 shares of the company’s stock, valued at $23,629,628.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John D. Vollaro sold 5,000 shares of the company’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $97.01, for a total value of $485,050.00. The disclosure for this sale can be found here. Insiders have sold 163,789 shares of company stock valued at $15,639,880 in the last 90 days. Company insiders own 6.60% of the company’s stock.

About Arch Capital Group

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.

Institutional Ownership by Quarter for Arch Capital Group (NASDAQ:ACGL)

Receive News & Ratings for Arch Capital Group Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arch Capital Group Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply