Swiss National Bank trimmed its position in Arch Capital Group (NASDAQ:ACGL) by 1.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 857,368 shares of the insurance provider’s stock after selling 10,000 shares during the quarter. Swiss National Bank’s holdings in Arch Capital Group were worth $73,382,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Alps Advisors Inc. acquired a new stake in Arch Capital Group in the fourth quarter worth about $203,000. Parametrica Management Ltd acquired a new stake in Arch Capital Group in the fourth quarter worth about $261,000. Insight 2811 Inc. increased its position in Arch Capital Group by 30.0% in the first quarter. Insight 2811 Inc. now owns 4,203 shares of the insurance provider’s stock worth $360,000 after purchasing an additional 970 shares during the period. Adalta Capital Management LLC increased its position in Arch Capital Group by 20.0% in the fourth quarter. Adalta Capital Management LLC now owns 4,800 shares of the insurance provider’s stock worth $436,000 after purchasing an additional 800 shares during the period. Finally, Dynamic Capital Management Ltd acquired a new stake in Arch Capital Group in the fourth quarter worth about $442,000. Hedge funds and other institutional investors own 77.73% of the company’s stock.
In related news, Director Brian S. Posner bought 3,000 shares of the firm’s stock in a transaction dated Thursday, May 3rd. The stock was bought at an average cost of $78.63 per share, for a total transaction of $235,890.00. Following the transaction, the director now owns 24,439 shares of the company’s stock, valued at $1,921,638.57. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark Donald Lyons sold 6,000 shares of Arch Capital Group stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $89.39, for a total value of $536,340.00. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by insiders.
Arch Capital Group stock opened at $79.66 on Friday. The stock has a market cap of $10.85 billion, a PE ratio of 24.82, a P/E/G ratio of 1.14 and a beta of 0.63. Arch Capital Group has a 1 year low of $78.86 and a 1 year high of $79.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.79 and a quick ratio of 0.79.
Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Tuesday, May 1st. The insurance provider reported $1.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.14. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.19 billion. Arch Capital Group had a return on equity of 6.16% and a net margin of 9.41%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.42 EPS. equities analysts forecast that Arch Capital Group will post 6.32 EPS for the current year.
A number of analysts recently commented on the company. TheStreet lowered Arch Capital Group from a “b” rating to a “c” rating in a research report on Tuesday, May 1st. Wells Fargo set a $96.00 target price on Arch Capital Group and gave the stock a “hold” rating in a research report on Monday, February 12th. BidaskClub upgraded Arch Capital Group from a “sell” rating to a “hold” rating in a research report on Friday, March 30th. Finally, ValuEngine lowered Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $103.50.
About Arch Capital Group
Arch Capital Group Ltd., together with its subsidiaries, provides property, casualty, and mortgage insurance and reinsurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; collateral protection, debt cancellation, and service contract reimbursement products; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.
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