Northstar Group Inc. Maintains Position in Arch Capital Group Ltd. (ACGL)
Northstar Group Inc. maintained its position in Arch Capital Group Ltd. (NASDAQ:ACGL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,545 shares of the insurance provider’s stock at the end of the second quarter. Arch Capital Group comprises approximately 1.6% of Northstar Group Inc.’s investment portfolio, making the stock its 10th largest position. Northstar Group Inc.’s holdings in Arch Capital Group were worth $2,672,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC raised its position in Arch Capital Group by 75.5% in the first quarter. Proficio Capital Partners LLC now owns 1,095 shares of the insurance provider’s stock valued at $104,000 after buying an additional 471 shares in the last quarter. Toronto Dominion Bank raised its position in Arch Capital Group by 26.5% in the first quarter. Toronto Dominion Bank now owns 1,343 shares of the insurance provider’s stock valued at $127,000 after buying an additional 281 shares in the last quarter. Parallel Advisors LLC raised its position in Arch Capital Group by 13.1% in the first quarter. Parallel Advisors LLC now owns 1,350 shares of the insurance provider’s stock valued at $130,000 after buying an additional 156 shares in the last quarter. Atria Investments LLC purchased a new stake in shares of Arch Capital Group during the second quarter valued at about $203,000. Finally, Capital One National Association purchased a new stake in shares of Arch Capital Group during the first quarter valued at about $214,000. Institutional investors own 70.23% of the company’s stock.
Arch Capital Group Ltd. (NASDAQ ACGL) opened at 98.05 on Monday. The company has a market cap of $13.19 billion, a P/E ratio of 17.83 and a beta of 0.67. Arch Capital Group Ltd. has a 52 week low of $73.97 and a 52 week high of $99.47. The company has a 50-day moving average of $95.50 and a 200-day moving average of $94.38.
Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Wednesday, July 26th. The insurance provider reported $1.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.01. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.28 billion. Arch Capital Group had a net margin of 15.65% and a return on equity of 9.09%. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.13 EPS. On average, equities research analysts predict that Arch Capital Group Ltd. will post $5.36 EPS for the current year.
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ACGL has been the subject of several analyst reports. Wells Fargo & Company reissued a “hold” rating on shares of Arch Capital Group in a research note on Wednesday, June 14th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $95.00 price objective on shares of Arch Capital Group in a research note on Tuesday, July 4th. Morgan Stanley raised their price objective on shares of 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. BidaskClub raised shares of Arch Capital Group from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, Zacks Investment Research downgraded shares of Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. Arch Capital Group presently has a consensus rating of “Hold” and an average price target of $92.09.
In other news, CFO Mark Donald Lyons sold 8,266 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $93.53, for a total value of $773,118.98. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Constantine Iordanou sold 50,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $97.88, for a total transaction of $4,894,000.00. Following the completion of the sale, the chief executive officer now owns 171,901 shares in the company, valued at $16,825,669.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,256 shares of company stock worth $18,352,593. 6.60% of the stock is owned by company insiders.
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.
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