Global X Management Co. LLC reduced its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 7.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,341 shares of the insurance provider’s stock after selling 701 shares during the quarter. Global X Management Co. LLC’s holdings in Arch Capital Group were worth $757,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the stock. Ameriprise Financial Inc. boosted its holdings in shares of Arch Capital Group by 3.2% during the second quarter. Ameriprise Financial Inc. now owns 7,577 shares of the insurance provider’s stock worth $706,000 after purchasing an additional 237 shares during the period. Toronto Dominion Bank lifted its stake in Arch Capital Group by 18.8% in the second quarter. Toronto Dominion Bank now owns 1,596 shares of the insurance provider’s stock valued at $149,000 after acquiring an additional 253 shares during the last quarter. Eqis Capital Management Inc. lifted its stake in 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 acquiring an additional 590 shares during the last quarter. Barings LLC lifted its stake in Arch Capital Group by 14.6% in the third quarter. Barings LLC now owns 4,700 shares of the insurance provider’s stock valued at $463,000 after acquiring an additional 600 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. lifted its stake in Arch Capital Group by 7.6% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 8,728 shares of the insurance provider’s stock valued at $860,000 after acquiring an additional 614 shares during the last quarter. Institutional investors and hedge funds own 76.96% of the company’s stock.
Shares of Arch Capital Group Ltd. (NASDAQ ACGL) opened at $88.71 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.83 and a quick ratio of 0.83. Arch Capital Group Ltd. has a one year low of $85.35 and a one year high of $102.60. The firm has a market cap of $12,279.56, a price-to-earnings ratio of 28.26, a PEG ratio of 1.31 and a beta of 0.62.
Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Monday, February 12th. The insurance provider reported $1.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.21. Arch Capital Group had a net margin of 11.21% and a return on equity of 5.95%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the company earned $1.13 earnings per share. Arch Capital Group’s revenue for the quarter was up 27.4% on a year-over-year basis. research analysts anticipate that Arch Capital Group Ltd. will post 6.24 EPS for the current fiscal year.
In other news, CFO Mark Donald Lyons sold 5,500 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $92.04, for a total value of $506,220.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Constantine Iordanou acquired 7,000 shares of Arch Capital Group stock in a transaction dated Thursday, February 15th. The stock was purchased at an average price of $23.80 per share, with a total value of $166,600.00. Following the completion of the purchase, the chief executive officer now directly owns 7,000 shares of the company’s stock, valued at approximately $166,600. The disclosure for this purchase can be found here. 6.60% of the stock is currently owned by insiders.
A number of analysts have issued reports on the stock. Wells Fargo & Co set a $96.00 target price on shares of Arch Capital Group and gave the company a “hold” rating in a research note on Monday, February 12th. UBS Group reiterated a “buy” rating on shares of Arch Capital Group in a research note on Monday, October 30th. BidaskClub upgraded shares of Arch Capital Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday, January 16th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $101.00 target price on shares of Arch Capital Group in a research note on Wednesday, December 6th. Finally, Zacks Investment Research upgraded shares of Arch Capital Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $100.67.
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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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