Oppenheimer Asset Management Inc. Sells 14,086 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Oppenheimer Asset Management Inc. decreased its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 15.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,901 shares of the insurance provider’s stock after selling 14,086 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Arch Capital Group were worth $7,109,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Oppenheimer & Co. Inc. bought a new position in shares of Arch Capital Group in the first quarter valued at $1,427,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in Arch Capital Group by 4.5% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 186,183 shares of the insurance provider’s stock valued at $17,211,000 after purchasing an additional 8,079 shares during the last quarter. Alphinity Investment Management Pty Ltd grew its holdings in Arch Capital Group by 17.8% during the first quarter. Alphinity Investment Management Pty Ltd now owns 18,674 shares of the insurance provider’s stock worth $1,726,000 after purchasing an additional 2,828 shares during the period. SG Americas Securities LLC boosted its stake in shares of Arch Capital Group by 34.2% during the 1st quarter. SG Americas Securities LLC now owns 189,743 shares of the insurance provider’s stock worth $17,540,000 after acquiring an additional 48,373 shares during the period. Finally, Sciencast Management LP lifted its holdings in Arch Capital Group by 82.5% during the 1st quarter. Sciencast Management LP now owns 20,987 shares of the insurance provider’s stock valued at $1,940,000 after purchasing an additional 9,490 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Price Performance

Shares of ACGL stock traded down $0.50 on Friday, reaching $96.50. The company had a trading volume of 1,557,504 shares, compared to its average volume of 1,483,242. The stock has a market capitalization of $36.23 billion, a PE ratio of 7.62, a price-to-earnings-growth ratio of 1.66 and a beta of 0.58. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.17. The business’s 50-day moving average is $100.00 and its 200 day moving average is $90.94. Arch Capital Group Ltd. has a one year low of $72.85 and a one year high of $103.79.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.39. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $3.77 billion. Arch Capital Group had a net margin of 33.65% and a return on equity of 21.85%. The company’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the business posted $1.73 earnings per share. Equities research analysts forecast that Arch Capital Group Ltd. will post 8.55 EPS for the current fiscal year.

Insider Activity at Arch Capital Group

In other news, CEO David Gansberg sold 10,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $96.64, for a total transaction of $966,400.00. Following the sale, the chief executive officer now directly owns 228,035 shares in the company, valued at $22,037,302.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ACGL has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Arch Capital Group from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Roth Mkm restated a “buy” rating and issued a $110.00 price target on shares of Arch Capital Group in a research note on Tuesday, April 30th. Wells Fargo & Company lifted their price objective on shares of Arch Capital Group from $109.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Morgan Stanley increased their target price on shares of Arch Capital Group from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, JMP Securities lifted their price target on shares of Arch Capital Group from $100.00 to $110.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 30th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.87.

Arch Capital Group Profile

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; 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.