Arch Capital Group Ltd. $ACGL Stock Position Reduced by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. decreased its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 6.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 127,168 shares of the insurance provider’s stock after selling 8,788 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Arch Capital Group were worth $11,538,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Kinsale Capital Group Inc. raised its holdings in shares of Arch Capital Group by 8.2% during the third quarter. Kinsale Capital Group Inc. now owns 92,026 shares of the insurance provider’s stock worth $8,350,000 after acquiring an additional 6,966 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Arch Capital Group by 617.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,496 shares of the insurance provider’s stock worth $224,000 after purchasing an additional 2,148 shares in the last quarter. RBA Wealth Management LLC raised its stake in shares of Arch Capital Group by 0.3% during the 3rd quarter. RBA Wealth Management LLC now owns 65,056 shares of the insurance provider’s stock worth $5,903,000 after purchasing an additional 187 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in shares of Arch Capital Group during the 3rd quarter valued at about $205,000. Finally, Poehling Capital Management INC. grew its stake in shares of Arch Capital Group by 40.8% in the 3rd quarter. Poehling Capital Management INC. now owns 6,296 shares of the insurance provider’s stock valued at $571,000 after buying an additional 1,823 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling at Arch Capital Group

In related news, insider John M. Pasquesi sold 8,800 shares of the 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 owned 289,556 shares in the company, valued at approximately $27,267,488.52. This trade represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Francois Morin sold 8,000 shares of Arch Capital Group stock in a transaction that occurred 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 sale, the chief financial officer directly owned 266,681 shares in the company, valued at $25,233,356.22. The trade was a 2.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 220,666 shares of company stock worth $20,728,673 over the last 90 days. Company insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

ACGL has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $97.00 price objective (up previously from $93.00) on shares of Arch Capital Group in a research report on Wednesday, January 14th. Evercore set a $100.00 price target on shares of Arch Capital Group and gave the stock an “in-line” rating in a research note on Wednesday, January 7th. JPMorgan Chase & Co. raised their price target on shares of Arch Capital Group from $111.00 to $117.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Wells Fargo & Company reduced their price objective on shares of Arch Capital Group from $111.00 to $106.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. 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 report on Thursday, January 8th. Nine equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Arch Capital Group currently has a consensus rating of “Hold” and a consensus target price of $107.53.

Arch Capital Group Stock Performance

Shares of NASDAQ ACGL opened at $96.06 on Tuesday. Arch Capital Group Ltd. has a 12 month low of $82.44 and a 12 month high of $103.39. The company has a market cap of $34.83 billion, a P/E ratio of 8.99, a P/E/G ratio of 2.12 and a beta of 0.42. The business’s 50 day moving average is $94.63 and its two-hundred day moving average is $91.63. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.13.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Monday, February 9th. The insurance provider reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.64. Arch Capital Group had a net margin of 20.96% and a return on equity of 16.38%. The business had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter last year, the company posted $2.26 earnings per share. On average, equities analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

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.