Arthur M. Cohen & Associates LLC cut its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.6% in the first quarter, HoldingsChannel.com reports. The firm owned 37,029 shares of the insurance provider’s stock after selling 600 shares during the period. Arthur M. Cohen & Associates LLC’s holdings in Arch Capital Group were worth $1,197,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in ACGL. Norges Bank acquired a new stake in shares of Arch Capital Group in the 4th quarter valued at about $90,777,000. BlackRock Inc. lifted its position in Arch Capital Group by 4.0% during the 4th quarter. BlackRock Inc. now owns 27,775,928 shares of the insurance provider’s stock worth $742,173,000 after acquiring an additional 1,058,345 shares during the period. BNP Paribas Arbitrage SA lifted its position in Arch Capital Group by 876.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,134,453 shares of the insurance provider’s stock worth $36,666,000 after acquiring an additional 1,018,319 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in Arch Capital Group by 885.3% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 645,596 shares of the insurance provider’s stock worth $20,862,000 after acquiring an additional 580,071 shares during the period. Finally, California Public Employees Retirement System lifted its position in Arch Capital Group by 40.9% during the 4th quarter. California Public Employees Retirement System now owns 1,954,606 shares of the insurance provider’s stock worth $52,227,000 after acquiring an additional 567,170 shares during the period. 81.04% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have weighed in on ACGL shares. ValuEngine raised Arch Capital Group from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. BidaskClub cut Arch Capital Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 13th. JMP Securities reaffirmed a “hold” rating on shares of Arch Capital Group in a research report on Sunday, February 17th. Zacks Investment Research raised Arch Capital Group from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Thursday, February 14th. Finally, Wells Fargo & Co reaffirmed a “hold” rating and set a $32.00 price objective on shares of Arch Capital Group in a research report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $31.00.
In other news, Director Yiorgos Lillikas sold 2,000 shares of the stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $32.30, for a total transaction of $64,600.00. Following the completion of the transaction, the director now directly owns 51,214 shares of the company’s stock, valued at approximately $1,654,212.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Francois Morin sold 2,648 shares of the stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $32.14, for a total value of $85,106.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 201,556 shares of company stock valued at $6,770,122. Company insiders own 5.20% of the company’s stock.
Arch Capital Group stock opened at $34.04 on Thursday. Arch Capital Group Ltd. has a twelve month low of $24.79 and a twelve month high of $34.58. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.30. The company has a market cap of $13.45 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 1.17 and a beta of 0.70.
Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Tuesday, April 30th. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.05. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.28 billion. Arch Capital Group had a return on equity of 10.24% and a net margin of 17.93%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.69 EPS. As a group, research analysts forecast that Arch Capital Group Ltd. will post 2.6 EPS for the current year.
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Arch Capital Group Profile
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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