Bamco Inc. NY reduced its holdings in Arch Capital Group (NASDAQ:ACGL) by 4.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,071,122 shares of the insurance provider’s stock after selling 362,636 shares during the period. Arch Capital Group comprises 3.2% of Bamco Inc. NY’s holdings, making the stock its 5th biggest position. Bamco Inc. NY owned about 5.90% of Arch Capital Group worth $690,807,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Alps Advisors Inc. purchased a new stake in shares of Arch Capital Group in the 4th quarter valued at $203,000. Parametrica Management Ltd purchased a new stake in shares of Arch Capital Group in the 4th quarter valued at $261,000. Insight 2811 Inc. boosted its holdings in shares of Arch Capital Group by 30.0% in the 1st quarter. Insight 2811 Inc. now owns 4,203 shares of the insurance provider’s stock valued at $360,000 after acquiring an additional 970 shares during the last quarter. Adalta Capital Management LLC boosted its holdings in shares of Arch Capital Group by 20.0% in the 4th quarter. Adalta Capital Management LLC now owns 4,800 shares of the insurance provider’s stock valued at $436,000 after acquiring an additional 800 shares during the last quarter. Finally, Dynamic Capital Management Ltd purchased a new stake in shares of Arch Capital Group in the 4th quarter valued at $442,000. 77.61% of the stock is currently owned by institutional investors and hedge funds.
Arch Capital Group opened at $78.82 on Friday, according to MarketBeat. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.34. Arch Capital Group has a 1 year low of $78.25 and a 1 year high of $78.57. The firm has a market capitalization of $10.61 billion, a P/E ratio of 24.55, a PEG ratio of 1.12 and a beta of 0.63.
Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Tuesday, May 1st. The insurance provider reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.14. Arch Capital Group had a net margin of 9.41% and a return on equity of 6.04%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the business posted $1.42 EPS. The business’s revenue was up 10.7% compared to the same quarter last year. equities research analysts forecast that Arch Capital Group will post 6.32 earnings per share for the current fiscal year.
ACGL has been the topic of several recent research reports. Keefe, Bruyette & Woods raised shares of Arch Capital Group from a “market perform” rating to an “outperform” rating in a report on Thursday, March 22nd. ValuEngine cut shares of Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Wells Fargo set a $96.00 target price on shares of Arch Capital Group and gave the company a “hold” rating in a research note on Monday, February 12th. BidaskClub upgraded shares of Arch Capital Group from a “strong sell” rating to a “sell” rating in a research note on Friday, March 23rd. Finally, TheStreet cut shares of Arch Capital Group from a “b” rating to a “c” rating in a research note on Tuesday, May 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Arch Capital Group presently has an average rating of “Hold” and a consensus target price of $103.50.
In other Arch Capital Group news, CFO Mark Donald Lyons sold 6,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $89.39, for a total transaction of $536,340.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian S. Posner acquired 3,000 shares of Arch Capital Group stock in a transaction on Thursday, May 3rd. The shares were bought at an average price of $78.63 per share, with a total value of $235,890.00. Following the completion of the transaction, the director now directly owns 24,439 shares of the company’s stock, valued at approximately $1,921,638.57. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 24,000 shares of company stock valued at $1,981,620. Company insiders own 5.10% of the company’s stock.
About Arch Capital Group
Arch Capital Group Ltd., together with its subsidiaries, provides property, casualty, and mortgage insurance and reinsurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; collateral protection, debt cancellation, and service contract reimbursement products; 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.
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