Amundi Pioneer Asset Management Inc. increased its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 9.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 209,755 shares of the insurance provider’s stock after buying an additional 17,383 shares during the period. Amundi Pioneer Asset Management Inc. owned 0.15% of Arch Capital Group worth $17,953,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Twin Tree Management LP bought a new position in Arch Capital Group during the first quarter worth $141,000. Delpha Capital Management LLC bought a new position in Arch Capital Group during the first quarter worth $240,000. Schroder Investment Management Group bought a new position in Arch Capital Group during the first quarter worth $242,000. Jane Street Group LLC bought a new position in Arch Capital Group during the first quarter worth $292,000. Finally, Insight 2811 Inc. raised its stake in Arch Capital Group by 30.0% during the first quarter. Insight 2811 Inc. now owns 4,203 shares of the insurance provider’s stock worth $360,000 after buying an additional 970 shares during the last quarter. 80.87% of the stock is owned by institutional investors and hedge funds.
In other Arch Capital Group news, CFO Mark Donald Lyons sold 12,000 shares of Arch Capital Group stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $78.36, for a total value of $940,320.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Rippert sold 6,170 shares of Arch Capital Group stock in a transaction on Friday, June 15th. The shares were sold at an average price of $80.88, for a total transaction of $499,029.60. Following the completion of the sale, the chief executive officer now directly owns 33,489 shares of the company’s stock, valued at $2,708,590.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,108 shares of company stock valued at $1,600,417. Insiders own 5.10% of the company’s stock.
ACGL opened at $26.48 on Friday. Arch Capital Group Ltd. has a 1-year low of $25.71 and a 1-year high of $34.20. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $10.74 billion, a price-to-earnings ratio of 24.75, a P/E/G ratio of 1.13 and a beta of 0.63.
Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Tuesday, May 1st. The insurance provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. Arch Capital Group had a net margin of 9.41% and a return on equity of 6.04%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the firm posted $0.16 earnings per share. The business’s revenue was up 10.7% compared to the same quarter last year. equities analysts predict that Arch Capital Group Ltd. will post 2.11 earnings per share for the current year.
ACGL has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised shares of Arch Capital Group from a “market perform” rating to an “outperform” rating in a research note on Thursday, March 22nd. ValuEngine downgraded shares of Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. TheStreet downgraded shares of Arch Capital Group from a “b” rating to a “c” rating in a research note on Tuesday, May 1st. Wells Fargo & Co set a $10.67 target price on shares of Arch Capital Group and gave the stock a “hold” rating in a research note on Monday, April 2nd. Finally, BidaskClub raised shares of Arch Capital Group from a “strong sell” rating to a “sell” rating in a research note on Friday, March 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Arch Capital Group presently has a consensus rating of “Hold” and an average price target of $11.50.
Arch Capital Group Profile
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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