Convergence Investment Partners LLC Invests $962,000 in Arch Capital Group Ltd. $ACGL

Convergence Investment Partners LLC bought a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,603 shares of the insurance provider’s stock, valued at approximately $962,000.

Several other large investors have also modified their holdings of ACGL. Mainstay Capital Management LLC ADV purchased a new stake in Arch Capital Group during the 2nd quarter worth $363,000. Cooke & Bieler LP acquired a new stake in shares of Arch Capital Group during the third quarter worth $210,856,000. Thrivent Financial for Lutherans lifted its position in shares of Arch Capital Group by 1.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,639,158 shares of the insurance provider’s stock worth $148,720,000 after buying an additional 16,798 shares during the last quarter. Citizens Financial Group Inc. RI lifted its position in shares of Arch Capital Group by 632.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 17,362 shares of the insurance provider’s stock worth $1,575,000 after buying an additional 14,992 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its position in Arch Capital Group by 550.1% during the 2nd quarter. Osaic Holdings Inc. now owns 109,984 shares of the insurance provider’s stock valued at $10,513,000 after purchasing an additional 93,067 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Trading Up 0.7%

Arch Capital Group stock opened at $96.71 on Tuesday. Arch Capital Group Ltd. has a 12 month low of $82.44 and a 12 month high of $97.60. 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 $35.07 billion, a P/E ratio of 9.05, a P/E/G ratio of 2.02 and a beta of 0.45. The company’s fifty day simple moving average is $94.05 and its 200-day simple moving average is $91.24.

Insider Buying and Selling

In other Arch Capital Group news, CFO Francois Morin sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $94.62, for a total value of $756,960.00. Following the completion of the sale, the chief financial officer directly owned 266,681 shares of the company’s stock, valued at $25,233,356.22. The trade was a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John M. Pasquesi sold 8,800 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $94.17, for a total value of $828,696.00. Following the sale, the insider directly owned 289,556 shares of the company’s stock, valued at $27,267,488.52. The trade was a 2.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 220,666 shares of company stock valued at $20,728,673 over the last quarter. Corporate insiders own 4.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ACGL. Cantor Fitzgerald reissued an “overweight” rating and set a $97.00 target price (up from $93.00) on shares of Arch Capital Group in a research note on Wednesday, January 14th. Royal Bank Of Canada set a $108.00 price objective on Arch Capital Group and gave the stock an “outperform” rating in a report on Monday, November 24th. Wells Fargo & Company cut their target price on Arch Capital Group from $111.00 to $106.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Keefe, Bruyette & Woods upped their price target on shares of Arch Capital Group from $100.00 to $102.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 6th. Finally, Barclays set a $104.00 price objective on Arch Capital Group and gave the company an “equal weight” rating in a report on Thursday, January 8th. Eight equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $107.53.

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.