Bank of America Corp DE lowered its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 9.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 220,686 shares of the insurance provider’s stock after selling 22,845 shares during the period. Bank of America Corp DE owned approximately 0.16% of Arch Capital Group worth $20,914,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Arch Capital Group by 3,410.5% in the first quarter. BlackRock Inc. now owns 8,769,351 shares of the insurance provider’s stock valued at $831,073,000 after buying an additional 8,519,546 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Arch Capital Group by 802.5% in the first quarter. JPMorgan Chase & Co. now owns 850,833 shares of the insurance provider’s stock valued at $80,633,000 after buying an additional 756,556 shares during the period. Vanguard Group Inc. boosted its position in shares of Arch Capital Group by 4.6% in the first quarter. Vanguard Group Inc. now owns 9,588,852 shares of the insurance provider’s stock valued at $908,736,000 after buying an additional 418,229 shares during the period. Karp Capital Management Corp purchased a new position in shares of Arch Capital Group during the first quarter valued at approximately $23,790,000. Finally, Scout Investments Inc. raised its position in Arch Capital Group by 75.8% in the first quarter. Scout Investments Inc. now owns 521,258 shares of the insurance provider’s stock valued at $37,061,000 after buying an additional 224,761 shares in the last quarter. 73.13% of the stock is owned by institutional investors.

Shares of Arch Capital Group Ltd. (ACGL) traded down 0.18% during midday trading on Thursday, reaching $97.70. The company had a trading volume of 384,986 shares. The stock’s 50 day moving average is $95.50 and its 200-day moving average is $94.38. Arch Capital Group Ltd. has a 12-month low of $73.22 and a 12-month high of $99.47. The stock has a market capitalization of $13.32 billion, a PE ratio of 17.32 and a beta of 0.67.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.28 billion. Arch Capital Group had a net margin of 15.65% and a return on equity of 9.09%. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.13 earnings per share. On average, equities research analysts predict that Arch Capital Group Ltd. will post $5.36 earnings per share for the current fiscal year.

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Several research firms have issued reports on ACGL. Wells Fargo & Company reiterated a “hold” rating on shares of Arch Capital Group in a research note on Wednesday, July 26th. Morgan Stanley increased their price objective on Arch Capital Group from $90.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Friday, April 28th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $95.00 price objective on shares of Arch Capital Group in a research note on Tuesday, July 4th. BidaskClub upgraded Arch Capital Group from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, Zacks Investment Research lowered Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. Arch Capital Group currently has a consensus rating of “Hold” and a consensus target price of $92.09.

In other Arch Capital Group news, CEO Nicolas Papadopoulo sold 20,000 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $95.39, for a total transaction of $1,907,800.00. Following the completion of the sale, the chief executive officer now directly owns 244,912 shares of the company’s stock, valued at $23,362,155.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Constantine Iordanou sold 62,832 shares of the company’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $95.02, for a total value of $5,970,296.64. Following the completion of the transaction, the chief executive officer now owns 108,851 shares in the company, valued at approximately $10,343,022.02. The disclosure for this sale can be found here. Insiders sold 143,289 shares of company stock valued at $13,656,445 in the last ninety days. Corporate insiders own 6.60% of the company’s stock.

Arch Capital Group Company Profile

Arch Capital Group Ltd. provides insurance, reinsurance and mortgage insurance. The Company provides a range of property, casualty and mortgage insurance and reinsurance lines. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The insurance segment’s product lines include construction and national accounts; excess and surplus casualty; lenders products; professional lines; programs; property, energy, marine and aviation; travel, accident and health, and other.

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

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