Pictet Asset Management Ltd. Grows Stake in Arch Capital Group Ltd. (ACGL)

Pictet Asset Management Ltd. raised its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 4.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,200 shares of the insurance provider’s stock after buying an additional 2,200 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Arch Capital Group were worth $4,945,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ACGL. First Trust Advisors LP grew its holdings in shares of Arch Capital Group by 53.6% in the third quarter. First Trust Advisors LP now owns 136,092 shares of the insurance provider’s stock valued at $13,405,000 after purchasing an additional 47,494 shares during the period. Gilman Hill Asset Management LLC purchased a new stake in shares of Arch Capital Group in the third quarter valued at about $296,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Arch Capital Group in the third quarter valued at about $631,000. Shell Asset Management Co. grew its holdings in shares of Arch Capital Group by 421.3% in the third quarter. Shell Asset Management Co. now owns 329,393 shares of the insurance provider’s stock valued at $18,024,000 after purchasing an additional 266,207 shares during the period. Finally, Eqis Capital Management Inc. grew its holdings in shares of Arch Capital Group by 15.5% in the third quarter. Eqis Capital Management Inc. now owns 4,385 shares of the insurance provider’s stock valued at $432,000 after purchasing an additional 590 shares during the period. 73.19% of the stock is owned by institutional investors and hedge funds.

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A number of brokerages recently issued reports on ACGL. UBS AG reissued a “buy” rating on shares of Arch Capital Group in a report on Monday, October 30th. Royal Bank Of Canada reissued a “buy” rating and issued a $113.00 price objective on shares of Arch Capital Group in a report on Friday, October 27th. Wells Fargo & Company set a $100.00 price objective on shares of Arch Capital Group and gave the company a “hold” rating in a report on Thursday, October 26th. Zacks Investment Research raised shares of Arch Capital Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Finally, Barclays PLC upped their target price on shares of Arch Capital Group from $91.00 to $95.00 and gave the company an “equal weight” rating in a research report on Monday, October 16th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Arch Capital Group has a consensus rating of “Hold” and an average price target of $100.70.

In other news, CFO Mark Donald Lyons sold 9,967 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $97.31, for a total transaction of $969,888.77. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Andrew Rippert sold 3,500 shares of the stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $94.25, for a total transaction of $329,875.00. The disclosure for this sale can be found here. Insiders have sold 187,633 shares of company stock worth $17,864,402 in the last three months. Corporate insiders own 6.60% of the company’s stock.

Shares of Arch Capital Group Ltd. (ACGL) opened at $95.35 on Friday. The stock has a market cap of $12,478.83, a PE ratio of 32.10, a PEG ratio of 2.65 and a beta of 0.70. Arch Capital Group Ltd. has a 1 year low of $79.86 and a 1 year high of $102.60. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.77 and a current ratio of 0.83.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Wednesday, October 25th. The insurance provider reported ($0.79) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by ($0.20). The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.16 billion. Arch Capital Group had a return on equity of 5.57% and a net margin of 9.44%. The firm’s revenue for the quarter was up 30.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.14 EPS. research analysts expect that Arch Capital Group Ltd. will post 3.27 EPS for the current fiscal year.

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

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