Capital Research Global Investors Cuts Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Capital Research Global Investors trimmed its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGLGet Rating) by 0.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,684,048 shares of the insurance provider’s stock after selling 38,665 shares during the quarter. Capital Research Global Investors owned approximately 2.58% of Arch Capital Group worth $468,902,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Quantamental Technologies LLC increased its holdings in shares of Arch Capital Group by 5.8% during the 1st quarter. Quantamental Technologies LLC now owns 4,919 shares of the insurance provider’s stock valued at $238,000 after purchasing an additional 268 shares in the last quarter. Xponance Inc. increased its holdings in shares of Arch Capital Group by 2.2% during the 1st quarter. Xponance Inc. now owns 13,610 shares of the insurance provider’s stock valued at $659,000 after purchasing an additional 292 shares in the last quarter. Convergence Investment Partners LLC increased its holdings in shares of Arch Capital Group by 8.1% during the 1st quarter. Convergence Investment Partners LLC now owns 4,463 shares of the insurance provider’s stock valued at $216,000 after purchasing an additional 333 shares in the last quarter. Baker Tilly Wealth Management LLC increased its holdings in Arch Capital Group by 5.8% in the 1st quarter. Baker Tilly Wealth Management LLC now owns 6,323 shares of the insurance provider’s stock worth $306,000 after acquiring an additional 346 shares in the last quarter. Finally, Wetherby Asset Management Inc. increased its holdings in Arch Capital Group by 1.0% in the 4th quarter. Wetherby Asset Management Inc. now owns 38,813 shares of the insurance provider’s stock worth $1,725,000 after acquiring an additional 389 shares in the last quarter. 87.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Louis T. Petrillo sold 16,023 shares of the business’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $45.83, for a total transaction of $734,334.09. Following the transaction, the insider now owns 105,274 shares of the company’s stock, valued at approximately $4,824,707.42. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Arch Capital Group news, insider Louis T. Petrillo sold 7,638 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $46.68, for a total value of $356,541.84. Following the transaction, the insider now owns 121,297 shares of the company’s stock, valued at $5,662,143.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Louis T. Petrillo sold 16,023 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $45.83, for a total transaction of $734,334.09. Following the completion of the transaction, the insider now directly owns 105,274 shares in the company, valued at approximately $4,824,707.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,546 shares of company stock valued at $1,883,120. 4.20% of the stock is currently owned by insiders.

Arch Capital Group Price Performance

Arch Capital Group stock opened at $47.02 on Thursday. Arch Capital Group Ltd. has a 52-week low of $37.44 and a 52-week high of $50.73. The firm has a market capitalization of $17.36 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 1.00 and a beta of 0.73. The company has a fifty day simple moving average of $45.23 and a 200-day simple moving average of $45.98. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.26.

Arch Capital Group (NASDAQ:ACGLGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The insurance provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.25. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.51 billion. Arch Capital Group had a net margin of 19.06% and a return on equity of 14.45%. The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 EPS. On average, equities analysts anticipate that Arch Capital Group Ltd. will post 4.64 EPS for the current fiscal year.

Analysts Set New Price Targets

ACGL has been the subject of several recent analyst reports. Morgan Stanley cut their price target on shares of Arch Capital Group from $53.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, May 23rd. StockNews.com lowered shares of Arch Capital Group from a “buy” rating to a “hold” rating in a report on Monday, August 22nd. Finally, Barclays cut their price target on shares of Arch Capital Group from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, July 14th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $53.38.

Arch Capital Group Profile

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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; 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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Institutional Ownership by Quarter for Arch Capital Group (NASDAQ:ACGL)

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