Arch Capital Group Ltd. (ACGL) Stake Decreased by Rafferty Asset Management LLC

Rafferty Asset Management LLC trimmed its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 10.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,178 shares of the insurance provider’s stock after selling 10,342 shares during the quarter. Rafferty Asset Management LLC’s holdings in Arch Capital Group were worth $2,718,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. D Orazio & Associates Inc. increased its position in Arch Capital Group by 200.0% during the 2nd quarter. D Orazio & Associates Inc. now owns 5,400 shares of the insurance provider’s stock worth $143,000 after purchasing an additional 3,600 shares in the last quarter. IBM Retirement Fund lifted its stake in shares of Arch Capital Group by 181.2% in the second quarter. IBM Retirement Fund now owns 12,316 shares of the insurance provider’s stock valued at $326,000 after buying an additional 7,936 shares in the last quarter. First Republic Investment Management Inc. lifted its stake in shares of Arch Capital Group by 200.8% in the second quarter. First Republic Investment Management Inc. now owns 119,536 shares of the insurance provider’s stock valued at $3,163,000 after buying an additional 79,801 shares in the last quarter. AMP Capital Investors Ltd lifted its stake in shares of Arch Capital Group by 187.8% in the second quarter. AMP Capital Investors Ltd now owns 134,379 shares of the insurance provider’s stock valued at $3,556,000 after buying an additional 87,686 shares in the last quarter. Finally, Wolverine Asset Management LLC lifted its stake in shares of Arch Capital Group by 66.7% in the second quarter. Wolverine Asset Management LLC now owns 50,000 shares of the insurance provider’s stock valued at $1,323,000 after buying an additional 20,000 shares in the last quarter. Institutional investors and hedge funds own 80.36% of the company’s stock.

In other news, Director John D. Vollaro sold 10,500 shares of the stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $30.06, for a total value of $315,630.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP W Preston Hutchings sold 15,000 shares of the stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $30.00, for a total transaction of $450,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,666 shares of company stock valued at $1,410,330. 5.10% of the stock is currently owned by corporate insiders.

Shares of ACGL stock opened at $28.00 on Monday. The stock has a market capitalization of $11.33 billion, a PE ratio of 26.17, a PEG ratio of 1.15 and a beta of 0.66. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.53 and a quick ratio of 0.53. Arch Capital Group Ltd. has a one year low of $25.71 and a one year high of $32.34.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Tuesday, October 30th. The insurance provider reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.07. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.19 billion. Arch Capital Group had a net margin of 15.15% and a return on equity of 10.30%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.13) earnings per share. On average, equities research analysts anticipate that Arch Capital Group Ltd. will post 2.22 earnings per share for the current fiscal year.

A number of research analysts have weighed in on ACGL shares. TheStreet raised shares of Arch Capital Group from a “c” rating to a “b-” rating in a research note on Monday, July 30th. BidaskClub raised shares of Arch Capital Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 11th. Royal Bank of Canada reiterated a “buy” rating on shares of Arch Capital Group in a report on Thursday, August 2nd. Zacks Investment Research upgraded shares of Arch Capital Group from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a report on Thursday, October 4th. Finally, Wells Fargo & Co reiterated a “hold” rating and issued a $30.00 target price on shares of Arch Capital Group in a report on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $26.54.

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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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Institutional Ownership by Quarter for Arch Capital Group (NASDAQ:ACGL)

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