Xact Kapitalforvaltning AB boosted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 9.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,868 shares of the insurance provider’s stock after purchasing an additional 1,103 shares during the period. Xact Kapitalforvaltning AB’s holdings in Arch Capital Group were worth $1,101,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of ACGL. Artisan Partners Limited Partnership raised its stake in Arch Capital Group by 3.7% during the first quarter. Artisan Partners Limited Partnership now owns 18,101,906 shares of the insurance provider’s stock worth $1,549,342,000 after purchasing an additional 641,989 shares during the period. Millennium Management LLC raised its stake in shares of Arch Capital Group by 1,589.4% in the 1st quarter. Millennium Management LLC now owns 525,338 shares of the insurance provider’s stock valued at $44,964,000 after acquiring an additional 494,242 shares during the period. Principal Financial Group Inc. raised its stake in shares of Arch Capital Group by 22.8% in the 1st quarter. Principal Financial Group Inc. now owns 2,497,872 shares of the insurance provider’s stock valued at $213,793,000 after acquiring an additional 463,341 shares during the period. Wells Fargo & Company MN raised its stake in shares of Arch Capital Group by 13.4% in the 1st quarter. Wells Fargo & Company MN now owns 3,228,015 shares of the insurance provider’s stock valued at $276,285,000 after acquiring an additional 380,299 shares during the period. Finally, Partners Capital Investment Group LLP purchased a new position in shares of Arch Capital Group in the 4th quarter valued at $27,245,000. 80.90% of the stock is currently owned by institutional investors.
In related 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 transaction of $940,320.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brian S. Posner purchased 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 3rd. The shares were purchased at an average cost of $78.63 per share, for a total transaction of $235,890.00. Following the purchase, the director now directly owns 24,439 shares in the company, valued at $1,921,638.57. The disclosure for this purchase can be found here. Insiders have sold a total of 20,108 shares of company stock worth $1,600,417 in the last ninety days. 5.10% of the stock is currently owned by insiders.
A number of equities analysts have recently commented on the stock. BidaskClub downgraded shares of Arch Capital Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 18th. Wells Fargo & Co reissued a “hold” rating on shares of Arch Capital Group in a research note on Wednesday, June 20th. ValuEngine raised shares of Arch Capital Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 6th. Finally, Goldman Sachs Group assumed coverage on shares of Arch Capital Group in a research note on Monday, June 18th. They issued a “neutral” rating on the stock. One research 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. The stock has a consensus rating of “Hold” and a consensus target price of $11.50.
Shares of Arch Capital Group opened at $26.46 on Friday, Marketbeat Ratings reports. Arch Capital Group Ltd. has a 52 week low of $25.71 and a 52 week high of $34.20. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $10.76 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 1.13 and a beta of 0.63.
Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, May 1st. The insurance provider reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the firm posted $0.16 EPS. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. equities analysts expect that Arch Capital Group Ltd. will post 2.12 earnings per share for the current year.
Arch Capital Group Company 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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