Raymond James & Associates raised its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL – Get Rating) by 5.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 197,043 shares of the insurance provider’s stock after buying an additional 9,610 shares during the period. Raymond James & Associates owned about 0.05% of Arch Capital Group worth $12,370,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of ACGL. Artisan Partners Limited Partnership increased its stake in shares of Arch Capital Group by 1.0% during the third quarter. Artisan Partners Limited Partnership now owns 35,253,620 shares of the insurance provider’s stock worth $1,605,450,000 after purchasing an additional 346,762 shares during the period. Vanguard Group Inc. increased its stake in shares of Arch Capital Group by 2.5% during the first quarter. Vanguard Group Inc. now owns 34,253,429 shares of the insurance provider’s stock worth $1,658,551,000 after purchasing an additional 846,179 shares during the period. State Street Corp increased its stake in shares of Arch Capital Group by 0.8% during the third quarter. State Street Corp now owns 8,149,909 shares of the insurance provider’s stock worth $371,147,000 after purchasing an additional 64,171 shares during the period. Fiduciary Management Inc. WI increased its stake in shares of Arch Capital Group by 9.8% during the third quarter. Fiduciary Management Inc. WI now owns 6,466,126 shares of the insurance provider’s stock worth $294,467,000 after purchasing an additional 575,545 shares during the period. Finally, Los Angeles Capital Management LLC increased its stake in shares of Arch Capital Group by 4.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 3,619,183 shares of the insurance provider’s stock worth $227,212,000 after purchasing an additional 153,153 shares during the period. Institutional investors own 88.78% of the company’s stock.
Insider Buying and Selling
In related news, CFO Francois Morin sold 15,814 shares of the firm’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $67.61, for a total transaction of $1,069,184.54. Following the completion of the transaction, the chief financial officer now directly owns 185,869 shares of the company’s stock, valued at approximately $12,566,603.09. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Francois Morin sold 15,814 shares of Arch Capital Group stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $67.61, for a total value of $1,069,184.54. Following the completion of the transaction, the chief financial officer now directly owns 185,869 shares of the company’s stock, valued at approximately $12,566,603.09. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nicolas Papadopoulo sold 30,000 shares of Arch Capital Group stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $70.16, for a total value of $2,104,800.00. Following the completion of the transaction, the insider now directly owns 759,970 shares of the company’s stock, valued at $53,319,495.20. The disclosure for this sale can be found here. Insiders sold a total of 217,160 shares of company stock valued at $16,192,067 in the last three months. Insiders own 4.20% of the company’s stock.
Arch Capital Group Trading Down 0.8 %
Arch Capital Group (NASDAQ:ACGL – Get Rating) last released its quarterly earnings data on Thursday, April 27th. The insurance provider reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.22. Arch Capital Group had a return on equity of 17.51% and a net margin of 18.43%. The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the business posted $1.10 EPS. Arch Capital Group’s revenue for the quarter was up 30.0% on a year-over-year basis. As a group, sell-side analysts expect that Arch Capital Group Ltd. will post 6.22 EPS for the current fiscal year.
Analyst Ratings Changes
ACGL has been the topic of a number of recent research reports. Barclays increased their target price on Arch Capital Group from $78.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, April 28th. Jefferies Financial Group lowered their price objective on Arch Capital Group from $86.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, April 10th. StockNews.com upgraded Arch Capital Group from a “hold” rating to a “buy” rating in a research note on Friday, April 28th. UBS Group raised their price objective on Arch Capital Group from $66.00 to $79.00 and gave the stock a “buy” rating in a research note on Tuesday, February 21st. Finally, JMP Securities raised their price objective on Arch Capital Group from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, April 27th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Arch Capital Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.20.
About Arch Capital Group
Arch Capital Group Ltd. engages in the provision of property and casualty insurance and reinsurance lines. It operates through the following segments: Insurance, Reinsurance, Mortgage, Corporate, and Other. The Insurance segment consists of insurance underwriting units which offer specialty product lines like construction and national accounts, excess and surplus casualty, lenders products, professional lines, and programs.
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