Systematic Financial Management LP held its position in Arch Capital Group Ltd. (NASDAQ:ACGL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,100 shares of the insurance provider’s stock at the close of the second quarter. Systematic Financial Management LP’s holdings in Arch Capital Group were worth $196,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in Arch Capital Group by 4.6% in the first quarter. Vanguard Group Inc. now owns 9,588,852 shares of the insurance provider’s stock valued at $908,736,000 after acquiring an additional 418,229 shares during the period. BlackRock Inc. grew its stake in Arch Capital Group by 3,410.5% in the first quarter. BlackRock Inc. now owns 8,769,351 shares of the insurance provider’s stock valued at $831,073,000 after acquiring an additional 8,519,546 shares during the period. State Street Corp grew its stake in Arch Capital Group by 1.4% in the first quarter. State Street Corp now owns 2,915,052 shares of the insurance provider’s stock valued at $276,253,000 after acquiring an additional 40,737 shares during the period. Wells Fargo & Company MN grew its stake in Arch Capital Group by 13.3% in the second quarter. Wells Fargo & Company MN now owns 2,237,908 shares of the insurance provider’s stock valued at $208,774,000 after acquiring an additional 262,893 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Arch Capital Group by 7.4% in the second quarter. Principal Financial Group Inc. now owns 1,955,253 shares of the insurance provider’s stock valued at $182,407,000 after acquiring an additional 135,521 shares during the period. 76.91% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Andrew Rippert sold 3,500 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $94.25, for a total value of $329,875.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP W Preston Hutchings sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $96.81, for a total value of $1,210,125.00. Following the completion of the sale, the senior vice president now owns 39,411 shares of the company’s stock, valued at $3,815,378.91. The disclosure for this sale can be found here. Over the last three months, insiders sold 195,579 shares of company stock valued at $18,756,983. Corporate insiders own 6.60% of the company’s stock.
Arch Capital Group Ltd. (NASDAQ:ACGL) opened at 96.63 on Thursday. The stock’s 50 day moving average price is $96.62 and its 200 day moving average price is $95.63. The firm has a market capitalization of $13.00 billion, a PE ratio of 17.58 and a beta of 0.67. Arch Capital Group Ltd. has a 52-week low of $76.47 and a 52-week high of $99.47.
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 Thomson Reuters’ consensus estimate of $1.20 by $0.01. Arch Capital Group had a return on equity of 8.76% and a net margin of 15.65%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the company posted $1.13 EPS. The business’s quarterly revenue was up 22.0% on a year-over-year basis. On average, analysts predict that Arch Capital Group Ltd. will post $5.37 EPS for the current fiscal year.
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A number of research analysts have issued reports on ACGL shares. Wells Fargo & Company reissued a “hold” rating on shares of Arch Capital Group in a research note on Wednesday, June 14th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $95.00 target price on shares of Arch Capital Group in a research note on Tuesday, July 4th. BidaskClub raised Arch Capital Group from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Zacks Investment Research cut Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Finally, Buckingham Research started coverage on Arch Capital Group in a research note on Monday, September 11th. They issued a “buy” rating and a $106.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Arch Capital Group currently has an average rating of “Hold” and a consensus target price of $97.22.
Arch Capital Group 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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