Eaton Vance Management Has $2,280,000 Stake in Arch Capital Group Ltd. (ACGL)

Eaton Vance Management maintained its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,440 shares of the insurance provider’s stock at the end of the 2nd quarter. Eaton Vance Management’s holdings in Arch Capital Group were worth $2,280,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. CIBC World Markets Inc. acquired a new stake in Arch Capital Group in the 2nd quarter valued at $208,000. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Arch Capital Group by 9.8% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 145,941 shares of the insurance provider’s stock valued at $13,615,000 after buying an additional 13,057 shares in the last quarter. Banque Pictet & Cie SA boosted its stake in Arch Capital Group by 6.2% in the 2nd quarter. Banque Pictet & Cie SA now owns 11,502 shares of the insurance provider’s stock valued at $1,073,000 after buying an additional 668 shares in the last quarter. Pictet North America Advisors SA boosted its stake in Arch Capital Group by 6.2% in the 2nd quarter. Pictet North America Advisors SA now owns 11,502 shares of the insurance provider’s stock valued at $1,073,000 after buying an additional 668 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in Arch Capital Group by 12.2% in the 2nd quarter. Pinnacle Associates Ltd. now owns 4,501 shares of the insurance provider’s stock valued at $420,000 after buying an additional 491 shares in the last quarter. 76.91% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently commented on the company. Keefe, Bruyette & Woods set a $100.00 price target on Arch Capital Group and gave the company a “hold” rating in a research note on Friday, August 11th. BidaskClub lowered Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 10th. Zacks Investment Research lowered Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Arch Capital Group in a research note on Wednesday, June 7th. Finally, Buckingham Research assumed coverage on Arch Capital Group in a research note on Monday, September 11th. They issued a “buy” rating and a $106.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $95.63.

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In other news, CEO Nicolas Papadopoulo sold 80,694 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $93.80, for a total value of $7,569,097.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Constantine Iordanou sold 50,000 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $97.88, for a total value of $4,894,000.00. Following the completion of the transaction, the chief executive officer now owns 171,901 shares of the company’s stock, valued at $16,825,669.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 195,579 shares of company stock worth $18,756,983. Company insiders own 6.60% of the company’s stock.

Arch Capital Group Ltd. (ACGL) opened at 96.87 on Tuesday. The company has a market cap of $13.03 billion, a P/E ratio of 17.62 and a beta of 0.67. The firm has a 50-day moving average price of $96.64 and a 200 day moving average price of $95.62. Arch Capital Group Ltd. has a 12 month low of $76.47 and a 12 month high of $99.47.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Wednesday, July 26th. The insurance provider reported $1.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.01. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.28 billion. Arch Capital Group had a return on equity of 8.76% and a net margin of 15.65%. The company’s revenue was up 22.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.13 EPS. On average, equities analysts expect that Arch Capital Group Ltd. will post $5.28 earnings per share for the current year.

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

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