Arch Capital Group Ltd. $ACGL is Bamco Inc. NY’s 2nd Largest Position

Bamco Inc. NY lessened its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,727,230 shares of the insurance provider’s stock after selling 239,522 shares during the quarter. Arch Capital Group comprises approximately 4.9% of Bamco Inc. NY’s portfolio, making the stock its 2nd largest position. Bamco Inc. NY owned about 5.29% of Arch Capital Group worth $1,796,164,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Arch Capital Group in the second quarter worth approximately $441,551,000. Ameriprise Financial Inc. lifted its stake in shares of Arch Capital Group by 289.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,368,648 shares of the insurance provider’s stock valued at $124,615,000 after purchasing an additional 1,016,919 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in shares of Arch Capital Group by 109.3% in the 2nd quarter. Champlain Investment Partners LLC now owns 1,045,262 shares of the insurance provider’s stock valued at $95,171,000 after purchasing an additional 545,777 shares during the last quarter. Worldquant Millennium Advisors LLC grew its holdings in shares of Arch Capital Group by 249.7% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 707,039 shares of the insurance provider’s stock worth $64,376,000 after purchasing an additional 504,880 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Arch Capital Group by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 42,414,557 shares of the insurance provider’s stock worth $3,861,845,000 after purchasing an additional 493,583 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on ACGL. Wolfe Research assumed coverage on shares of Arch Capital Group in a research report on Monday, September 15th. They issued a “peer perform” rating on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $98.00 price target on shares of Arch Capital Group in a research note on Tuesday, October 28th. Roth Capital set a $110.00 price objective on shares of Arch Capital Group and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. The Goldman Sachs Group set a $88.00 target price on shares of Arch Capital Group and gave the company a “sell” rating in a report on Tuesday, October 14th. Finally, JPMorgan Chase & Co. upped their price target on Arch Capital Group from $110.00 to $111.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Arch Capital Group currently has an average rating of “Hold” and a consensus target price of $106.85.

Insider Activity at Arch Capital Group

In related news, CFO Francois Morin sold 8,000 shares of the stock in a transaction on Friday, November 28th. The stock was sold at an average price of $94.62, for a total value of $756,960.00. Following the transaction, the chief financial officer owned 266,681 shares of the company’s stock, valued at $25,233,356.22. This represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 4.20% of the company’s stock.

Arch Capital Group Stock Up 0.3%

Shares of NASDAQ:ACGL opened at $93.92 on Friday. Arch Capital Group Ltd. has a fifty-two week low of $82.44 and a fifty-two week high of $97.40. The firm’s 50 day moving average price is $90.44 and its 200 day moving average price is $90.38. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.13. The stock has a market cap of $34.06 billion, a price-to-earnings ratio of 8.79, a price-to-earnings-growth ratio of 2.18 and a beta of 0.47.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Monday, October 27th. The insurance provider reported $2.77 EPS for the quarter, topping the consensus estimate of $1.76 by $1.01. Arch Capital Group had a net margin of 20.96% and a return on equity of 16.38%. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the previous year, the business posted $1.99 EPS. As a group, equities research analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

About Arch Capital Group

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.