Williams Jones & Associates LLC boosted its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 39.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 146,845 shares of the insurance provider’s stock after purchasing an additional 41,350 shares during the quarter. Williams Jones & Associates LLC’s holdings in Arch Capital Group were worth $4,746,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Quadrant Capital Group LLC grew its holdings in shares of Arch Capital Group by 200.0% during the first quarter. Quadrant Capital Group LLC now owns 948 shares of the insurance provider’s stock valued at $29,000 after buying an additional 632 shares during the last quarter. Enlightenment Research LLC purchased a new stake in shares of Arch Capital Group during the fourth quarter valued at approximately $35,000. Optimum Investment Advisors grew its holdings in shares of Arch Capital Group by 333.3% during the first quarter. Optimum Investment Advisors now owns 1,300 shares of the insurance provider’s stock valued at $42,000 after buying an additional 1,000 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new stake in shares of Arch Capital Group during the fourth quarter valued at approximately $90,000. Finally, Advisor Group Inc. grew its holdings in shares of Arch Capital Group by 21.5% during the first quarter. Advisor Group Inc. now owns 3,848 shares of the insurance provider’s stock valued at $125,000 after buying an additional 682 shares during the last quarter. Institutional investors and hedge funds own 80.04% of the company’s stock.
ACGL traded down $0.01 during trading on Wednesday, hitting $35.00. The company’s stock had a trading volume of 31,090 shares, compared to its average volume of 1,139,496. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.30. Arch Capital Group Ltd. has a one year low of $24.79 and a one year high of $35.83. The company has a market capitalization of $14.13 billion, a PE ratio of 15.91, a PEG ratio of 1.35 and a beta of 0.64.
Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.05. Arch Capital Group had a net margin of 17.93% and a return on equity of 10.24%. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the firm earned $1.69 earnings per share. The company’s quarterly revenue was up 11.9% on a year-over-year basis. Equities analysts forecast that Arch Capital Group Ltd. will post 2.63 earnings per share for the current fiscal year.
A number of brokerages recently weighed in on ACGL. BidaskClub upgraded shares of Arch Capital Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. Wells Fargo & Co restated a “hold” rating and set a $32.00 price objective on shares of Arch Capital Group in a research report on Tuesday, April 30th. Morgan Stanley set a $32.00 price objective on shares of Arch Capital Group and gave the company a “hold” rating in a research report on Friday, May 17th. Zacks Investment Research downgraded shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Tuesday, April 16th. Finally, JMP Securities restated a “hold” rating on shares of Arch Capital Group in a research report on Sunday, February 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Arch Capital Group presently has an average rating of “Hold” and an average target price of $32.67.
In other Arch Capital Group news, Vice Chairman John M. Pasquesi sold 299,741 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $33.99, for a total value of $10,188,196.59. Following the transaction, the insider now directly owns 2,832 shares in the company, valued at $96,259.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc Grandisson sold 55,408 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $33.86, for a total transaction of $1,876,114.88. Following the completion of the transaction, the chief executive officer now owns 115,487 shares in the company, valued at $3,910,389.82. The disclosure for this sale can be found here. Insiders sold 535,843 shares of company stock worth $18,147,985 over the last quarter. Insiders own 5.20% of the company’s stock.
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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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