Arch Capital Group Ltd. $ACGL Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH boosted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 12.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 192,567 shares of the insurance provider’s stock after purchasing an additional 21,323 shares during the period. Allianz Asset Management GmbH owned approximately 0.05% of Arch Capital Group worth $17,472,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ACGL. Geneos Wealth Management Inc. grew its holdings in 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 purchased a new stake in Arch Capital Group in the 2nd quarter worth approximately $253,000. DAVENPORT & Co LLC grew its stake in shares of Arch Capital Group by 30.0% during the 2nd quarter. DAVENPORT & Co LLC now owns 3,399 shares of the insurance provider’s stock worth $309,000 after purchasing an additional 785 shares during the period. Vontobel Holding Ltd. grew its stake in shares of Arch Capital Group by 33.7% during the 2nd quarter. Vontobel Holding Ltd. now owns 9,140 shares of the insurance provider’s stock worth $832,000 after purchasing an additional 2,305 shares during the period. Finally, Callan Family Office LLC increased its holdings in shares of Arch Capital Group by 286.2% during the 2nd quarter. Callan Family Office LLC now owns 9,392 shares of the insurance provider’s stock valued at $855,000 after purchasing an additional 6,960 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity at Arch Capital Group

In related news, insider John M. Pasquesi sold 8,800 shares of Arch Capital Group stock in a transaction that occurred on 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 owned 289,556 shares in the company, valued at approximately $27,267,488.52. This trade represents a 2.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Francois Morin sold 8,000 shares of the firm’s stock in a transaction dated Friday, November 28th. The shares were 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 trade represents a 2.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 220,666 shares of company stock worth $20,728,673. Corporate insiders own 4.20% of the company’s stock.

Arch Capital Group Stock Performance

NASDAQ ACGL opened at $100.95 on Friday. The stock’s fifty day moving average is $94.57 and its two-hundred day moving average is $91.55. The firm has a market capitalization of $36.61 billion, a P/E ratio of 9.44, a price-to-earnings-growth ratio of 2.12 and a beta of 0.42. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.55 and a current ratio of 0.55. Arch Capital Group Ltd. has a fifty-two week low of $82.44 and a fifty-two week high of $103.39.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their target price on 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. The Goldman Sachs Group reissued a “sell” rating and issued a $93.00 price target (up previously from $84.00) on shares of Arch Capital Group in a report on Wednesday, January 7th. Roth Mkm 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. Citigroup reiterated a “market outperform” rating on shares of Arch Capital Group in a research report on Friday, January 16th. Finally, Barclays set a $104.00 target price on shares of Arch Capital Group and gave the stock an “equal weight” rating in a research note on Thursday, January 8th. Nine investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $107.53.

About Arch Capital Group

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.