Los Angeles Capital Management & Equity Research Inc. boosted its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 7.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,884 shares of the insurance provider’s stock after buying an additional 8,693 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Arch Capital Group were worth $12,593,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC purchased a new position in Arch Capital Group during the fourth quarter worth about $103,000. Toronto Dominion Bank boosted its position in shares of Arch Capital Group by 26.5% in the first quarter. Toronto Dominion Bank now owns 1,343 shares of the insurance provider’s stock worth $127,000 after buying an additional 281 shares in the last quarter. Capital One National Association bought a new position in shares of Arch Capital Group during the first quarter worth $214,000. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Arch Capital Group by 57.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,273 shares of the insurance provider’s stock worth $196,000 after buying an additional 830 shares in the last quarter. Finally, Profund Advisors LLC bought a new position in shares of Arch Capital Group during the first quarter worth $232,000. 77.05% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Arch Capital Group Ltd. (NASDAQ:ACGL) traded down 0.28% during midday trading on Monday, reaching $94.51. The company’s stock had a trading volume of 352,986 shares. The company has a market cap of $12.67 billion, a price-to-earnings ratio of 16.02 and a beta of 0.60. The stock has a 50-day moving average of $95.43 and a 200 day moving average of $90.32. Arch Capital Group Ltd. has a 12 month low of $67.50 and a 12 month high of $99.11.
Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Tuesday, April 25th. The insurance provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.09. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.19 billion. Arch Capital Group had a return on equity of 8.23% and a net margin of 15.60%. During the same quarter in the prior year, the company posted $1.20 earnings per share. On average, analysts predict that Arch Capital Group Ltd. will post $5.54 earnings per share for the current fiscal year.
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A number of equities analysts recently weighed in on ACGL shares. BMO Capital Markets lifted their price target on Arch Capital Group to $102.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 28th. Keefe, Bruyette & Woods set a $95.00 price target on Arch Capital Group and gave the stock a “hold” rating in a research note on Thursday, April 6th. Deutsche Bank AG lifted their price target on Arch Capital Group from $78.00 to $87.00 and gave the stock a “hold” rating in a research note on Thursday, March 30th. Credit Suisse Group AG reissued a “buy” rating and issued a $98.00 price target on shares of Arch Capital Group in a research note on Wednesday, February 15th. Finally, Morgan Stanley lifted their price target on Arch Capital Group from $90.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Friday, April 28th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $91.50.
In other Arch Capital Group news, Director John D. Vollaro sold 2,033 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $97.32, for a total value of $197,851.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Constantine Iordanou sold 37,168 shares of the stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $95.52, for a total value of $3,550,287.36. Following the completion of the sale, the chief executive officer now owns 178,072 shares of the company’s stock, valued at $17,009,437.44. The disclosure for this sale can be found here. Insiders sold 132,693 shares of company stock valued at $12,653,728 in the last quarter. 6.30% of the stock is currently owned by corporate insiders.
Arch Capital Group Company Profile
Arch Capital Group Ltd. provides insurance, reinsurance and mortgage insurance. The Company provides a range of property, casualty and mortgage insurance and reinsurance lines. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The insurance segment’s product lines include construction and national accounts; excess and surplus casualty; lenders products; professional lines; programs; property, energy, marine and aviation; travel, accident and health, and other.
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