Marshall Wace North America L.P. bought a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 5,265 shares of the insurance provider’s stock, valued at approximately $500,000.
A number of other large investors also recently modified their holdings of ACGL. Principal Financial Group Inc. boosted its position in Arch Capital Group by 0.7% in the first quarter. Principal Financial Group Inc. now owns 1,819,732 shares of the insurance provider’s stock valued at $172,456,000 after buying an additional 12,071 shares during the last quarter. Norges Bank acquired a new position in Arch Capital Group during the fourth quarter valued at about $107,240,000. JPMorgan Chase & Co. boosted its position in Arch Capital Group by 802.5% in the first quarter. JPMorgan Chase & Co. now owns 850,833 shares of the insurance provider’s stock valued at $80,633,000 after buying an additional 756,556 shares during the last quarter. Swiss National Bank boosted its position in Arch Capital Group by 16.2% in the first quarter. Swiss National Bank now owns 780,068 shares of the insurance provider’s stock valued at $73,927,000 after buying an additional 108,600 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in 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. 73.09% of the stock is currently owned by hedge funds and other institutional investors.
Arch Capital Group Ltd. (NASDAQ:ACGL) traded up 1.37% during trading on Friday, hitting $95.91. The company had a trading volume of 488,554 shares. Arch Capital Group Ltd. has a 12-month low of $72.11 and a 12-month high of $99.47. The firm has a 50-day moving average of $95.26 and a 200 day moving average of $94.12. The company has a market capitalization of $12.90 billion, a price-to-earnings ratio of 17.44 and a beta of 0.66.
Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Arch Capital Group had a return on equity of 9.09% and a net margin of 15.65%. Arch Capital Group’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.13 earnings per share. On average, equities research analysts forecast that Arch Capital Group Ltd. will post $5.36 earnings per share for the current year.
Several research analysts have recently issued reports on the company. BidaskClub cut Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 10th. Zacks Investment Research cut Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Wells Fargo & Company reissued a “hold” rating on shares of Arch Capital Group in a research note on Wednesday, April 26th. Keefe, Bruyette & Woods set a $95.00 price target on Arch Capital Group and gave the stock a “hold” rating in a research note on Thursday, April 6th. Finally, Morgan Stanley raised their target price on Arch Capital Group from $90.00 to $96.00 and gave the company an “equal weight” rating in a research note on Friday, April 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Arch Capital Group presently has an average rating of “Hold” and an average price target of $92.09.
In other news, insider Louis T. Petrillo sold 2,990 shares of the company’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $94.98, for a total transaction of $283,990.20. Following the completion of the transaction, the insider now directly owns 56,268 shares of the company’s stock, valued at $5,344,334.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John D. Vollaro sold 2,033 shares of the company’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $97.32, for a total value of $197,851.56. The disclosure for this sale can be found here. Insiders have sold 163,789 shares of company stock valued at $15,639,880 over the last ninety days. 6.60% of the stock is owned by insiders.
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.
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