Bridges Investment Management Inc. Acquires Shares of 15,571 Arch Capital Group Ltd. $ACGL

Bridges Investment Management Inc. bought a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 15,571 shares of the insurance provider’s stock, valued at approximately $1,413,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Geneos Wealth Management Inc. boosted its holdings in shares of Arch Capital Group by 157.9% during the first quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider’s stock worth $65,000 after acquiring an additional 412 shares during the period. Sivia Capital Partners LLC acquired a new stake in Arch Capital Group during the 2nd quarter worth approximately $253,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Arch Capital Group by 13.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 58,539 shares of the insurance provider’s stock valued at $5,330,000 after purchasing an additional 6,735 shares during the period. QRG Capital Management Inc. boosted its stake in Arch Capital Group by 3.7% in the 2nd quarter. QRG Capital Management Inc. now owns 87,525 shares of the insurance provider’s stock valued at $7,969,000 after purchasing an additional 3,156 shares during the period. Finally, DAVENPORT & Co LLC grew its holdings in Arch Capital Group by 30.0% in the 2nd quarter. DAVENPORT & Co LLC now owns 3,399 shares of the insurance provider’s stock valued at $309,000 after buying an additional 785 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ACGL shares. Barclays set a $104.00 target price on shares of Arch Capital Group and gave the company an “equal weight” rating in a research report on Thursday, January 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $97.00 price objective (up previously from $93.00) on shares of Arch Capital Group in a report on Wednesday, January 14th. Wells Fargo & Company lowered their target price on shares of Arch Capital Group from $111.00 to $106.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Evercore ISI set a $100.00 price target on shares of Arch Capital Group and gave the company an “in-line” rating in a research report on Wednesday, January 7th. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $93.00 price target (up previously from $84.00) on shares of Arch Capital Group in a research report on Wednesday, January 7th. Eight equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Arch Capital Group presently has an average rating of “Hold” and an average price target of $107.53.

Arch Capital Group Stock Performance

NASDAQ ACGL opened at $96.71 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $35.07 billion, a price-to-earnings ratio of 9.05, a P/E/G ratio of 2.02 and a beta of 0.45. The firm’s 50 day simple moving average is $94.05 and its 200 day simple moving average is $91.24. Arch Capital Group Ltd. has a 1 year low of $82.44 and a 1 year high of $97.60.

Insiders Place Their Bets

In related news, CFO Francois Morin sold 8,000 shares of the company’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $94.62, for a total transaction of $756,960.00. Following the completion of the sale, the chief financial officer directly owned 266,681 shares in the company, valued at $25,233,356.22. This represents a 2.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John M. Pasquesi sold 8,800 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $94.17, for a total value of $828,696.00. Following the completion of the sale, the insider directly owned 289,556 shares in the company, valued at $27,267,488.52. This trade represents a 2.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 220,666 shares of company stock worth $20,728,673. Company insiders own 4.20% of the company’s stock.

Arch Capital Group Profile

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.