Bronfman E.L. Rothschild L.P. Purchases 5,370 Shares of Arch Capital Group Ltd. (ACGL)
Bronfman E.L. Rothschild L.P. boosted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 195.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,114 shares of the insurance provider’s stock after buying an additional 5,370 shares during the period. Bronfman E.L. Rothschild L.P.’s holdings in Arch Capital Group were worth $757,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the stock. Proficio Capital Partners LLC raised its stake in shares of 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 during the last quarter. Toronto Dominion Bank raised its stake 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 worth $127,000 after buying an additional 281 shares during the last quarter. Parallel Advisors LLC raised its stake 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 worth $130,000 after buying an additional 156 shares during the last quarter. Crow Point Partners LLC acquired a new stake in Arch Capital Group during the second quarter worth about $174,000. Finally, Pacer Advisors Inc. acquired a new stake in Arch Capital Group during the second quarter worth about $197,000. 76.92% of the stock is owned by hedge funds and other institutional investors.
Shares of Arch Capital Group Ltd. (NASDAQ:ACGL) traded up 0.31% on Thursday, hitting $96.95. The stock had a trading volume of 111,591 shares. Arch Capital Group Ltd. has a 12-month low of $76.47 and a 12-month high of $99.47. The firm has a market cap of $13.04 billion, a P/E ratio of 17.63 and a beta of 0.67. The company’s 50-day moving average price is $96.93 and its 200 day moving average price is $95.33.
Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Wednesday, July 26th. The insurance provider reported $1.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.01. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.28 billion. Arch Capital Group had a return on equity of 8.76% and a net margin of 15.65%. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.13 earnings per share. On average, equities research analysts forecast that Arch Capital Group Ltd. will post $5.35 earnings per share for the current fiscal year.
Several brokerages have recently weighed in on ACGL. Keefe, Bruyette & Woods set a $100.00 price target on shares of Arch Capital Group and gave the company a “hold” rating in a research report on Friday, August 11th. BidaskClub cut shares of Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 10th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Arch Capital Group in a research report on Wednesday, July 26th. Finally, Zacks Investment Research cut shares of Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $92.89.
In related news, SVP W Preston Hutchings sold 12,500 shares of Arch Capital Group stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $96.81, for a total value of $1,210,125.00. Following the sale, the senior vice president now owns 39,411 shares of the company’s stock, valued at $3,815,378.91. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Constantine Iordanou sold 50,000 shares of Arch Capital Group stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $97.88, for a total value of $4,894,000.00. Following the completion of the sale, the chief executive officer now directly owns 171,901 shares in the company, valued at approximately $16,825,669.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,766 shares of company stock worth $6,877,244. 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.
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