DnB Asset Management AS Has $2.96 Million Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

DnB Asset Management AS lessened its stake in Arch Capital Group Ltd. (NASDAQ:ACGLGet Rating) by 0.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 64,965 shares of the insurance provider’s stock after selling 292 shares during the quarter. DnB Asset Management AS’s holdings in Arch Capital Group were worth $2,955,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. National Bank of Canada FI boosted its holdings in shares of Arch Capital Group by 5,587.8% in the first quarter. National Bank of Canada FI now owns 69,903 shares of the insurance provider’s stock valued at $3,490,000 after buying an additional 68,674 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Arch Capital Group by 5.8% in the first quarter. Envestnet Asset Management Inc. now owns 643,146 shares of the insurance provider’s stock valued at $31,141,000 after buying an additional 35,179 shares during the period. Sciencast Management LP acquired a new position in shares of Arch Capital Group in the first quarter valued at approximately $465,000. Wealthspire Advisors LLC boosted its holdings in shares of Arch Capital Group by 18.1% in the first quarter. Wealthspire Advisors LLC now owns 12,131 shares of the insurance provider’s stock valued at $587,000 after buying an additional 1,858 shares during the period. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of Arch Capital Group by 111.2% in the first quarter. Qube Research & Technologies Ltd now owns 315,195 shares of the insurance provider’s stock valued at $15,262,000 after buying an additional 165,973 shares during the period. Institutional investors and hedge funds own 87.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ACGL. Barclays reduced 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. StockNews.com cut shares of Arch Capital Group from a “buy” rating to a “hold” rating in a report on Monday, August 22nd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.38.

Insiders Place Their Bets

In other Arch Capital Group news, insider Louis T. Petrillo sold 16,023 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $45.83, for a total transaction of $734,334.09. Following the sale, the insider now directly owns 105,274 shares of the company’s stock, valued at $4,824,707.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Francois Morin sold 16,885 shares of the stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $46.92, for a total value of $792,244.20. Following the transaction, the chief financial officer now directly owns 193,259 shares of the company’s stock, valued at $9,067,712.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Louis T. Petrillo sold 16,023 shares of the 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 $4,824,707.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,546 shares of company stock valued at $1,883,120. 4.20% of the stock is currently owned by corporate insiders.

Arch Capital Group Stock Performance

NASDAQ ACGL opened at $46.43 on Wednesday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.26. The firm’s fifty day moving average price is $45.42 and its two-hundred day moving average price is $45.99. Arch Capital Group Ltd. has a 1 year low of $37.44 and a 1 year high of $50.73. The firm has a market capitalization of $17.14 billion, a P/E ratio of 11.38, a price-to-earnings-growth ratio of 1.02 and a beta of 0.73.

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

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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