Penn Capital Management Co. Inc. Sells 438 Shares of Arch Capital Group Ltd. (ACGL)

Penn Capital Management Co. Inc. lessened its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.0% during the first quarter, Holdings Channel reports. The institutional investor owned 42,885 shares of the insurance provider’s stock after selling 438 shares during the quarter. Penn Capital Management Co. Inc.’s holdings in Arch Capital Group were worth $4,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Worldquant Millennium Quantitative Strategies LLC lifted its position in shares of Arch Capital Group by 24.0% during the 4th quarter. Worldquant Millennium Quantitative Strategies LLC now owns 52,952 shares of the insurance provider’s stock valued at $1,415,000 after buying an additional 10,265 shares during the last quarter. Sumitomo Life Insurance Co. lifted its position in shares of Arch Capital Group by 2.5% during the 4th quarter. Sumitomo Life Insurance Co. now owns 42,282 shares of the insurance provider’s stock valued at $1,130,000 after buying an additional 1,036 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Arch Capital Group by 8.1% during the 4th quarter. Prudential Financial Inc. now owns 21,280 shares of the insurance provider’s stock valued at $569,000 after buying an additional 1,600 shares during the last quarter. Vanguard Group Inc lifted its position in shares of Arch Capital Group by 0.4% during the 3rd quarter. Vanguard Group Inc now owns 33,874,589 shares of the insurance provider’s stock valued at $1,009,802,000 after buying an additional 144,152 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Arch Capital Group by 9.3% during the 4th quarter. Legal & General Group Plc now owns 2,518,406 shares of the insurance provider’s stock valued at $67,256,000 after buying an additional 214,805 shares during the last quarter. 81.04% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have recently commented 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 reiterated a “hold” rating on shares of Arch Capital Group in a research note on Sunday, February 17th. Zacks Investment Research upgraded Arch Capital Group from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Thursday, February 14th. Finally, Wells Fargo & Co reiterated a “hold” rating and set a $32.00 price objective on shares of Arch Capital Group in a research note on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $31.00.

NASDAQ:ACGL opened at $34.31 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.54 and a current ratio of 0.54. Arch Capital Group Ltd. has a 52-week low of $24.79 and a 52-week high of $34.58. The firm has a market cap of $13.45 billion, a P/E ratio of 15.60, a P/E/G ratio of 1.17 and a beta of 0.70.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Tuesday, April 30th. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.05. Arch Capital Group had a return on equity of 10.24% and a net margin of 17.93%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company posted $1.69 EPS. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. Research analysts forecast that Arch Capital Group Ltd. will post 2.6 earnings per share for the current year.

In other Arch Capital Group news, Director Yiorgos Lillikas sold 2,000 shares of the company’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $32.30, for a total value of $64,600.00. Following the transaction, the director now directly owns 51,214 shares in the company, valued at approximately $1,654,212.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc Grandisson sold 75,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $33.92, for a total value of $2,544,000.00. Following the completion of the transaction, the chief executive officer now owns 115,487 shares in the company, valued at $3,917,319.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 201,556 shares of company stock worth $6,770,122. 5.20% of the stock is currently owned by corporate insiders.

COPYRIGHT VIOLATION NOTICE: “Penn Capital Management Co. Inc. Sells 438 Shares of Arch Capital Group Ltd. (ACGL)” was reported by Transcript Daily and is owned by of Transcript Daily. If you are reading this news story on another domain, it was copied illegally and republished in violation of U.S. & international copyright & trademark law. The original version of this news story can be read at https://transcriptdaily.com/2019/05/16/penn-capital-management-co-inc-sells-438-shares-of-arch-capital-group-ltd-acgl.html.

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.

Recommended Story: Backdoor Roth IRA

Want to see what other hedge funds are holding ACGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arch Capital Group Ltd. (NASDAQ:ACGL).

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

Receive News & Ratings for Arch Capital Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arch Capital Group and related companies with MarketBeat.com's FREE daily email newsletter.