Arch Capital Group Ltd. (ACGL) Holdings Reduced by Martingale Asset Management L P
Martingale Asset Management L P reduced its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 383,849 shares of the insurance provider’s stock after selling 96 shares during the period. Martingale Asset Management L P owned 0.29% of Arch Capital Group worth $35,811,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Proficio Capital Partners LLC increased its stake 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 purchasing an additional 471 shares during the last quarter. Toronto Dominion Bank increased 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 valued at $127,000 after purchasing an additional 281 shares during the last quarter. Parallel Advisors LLC increased 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 valued at $130,000 after purchasing an additional 156 shares during the last quarter. Crow Point Partners LLC purchased a new position in Arch Capital Group in the second quarter valued at approximately $174,000. Finally, Pacer Advisors Inc. purchased a new position in Arch Capital Group in the second quarter valued at approximately $197,000. Institutional investors own 76.92% of the company’s stock.
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Arch Capital Group Ltd. (NASDAQ:ACGL) traded up 3.05% during midday trading on Friday, hitting $94.32. The stock had a trading volume of 1,960,066 shares. The company has a market cap of $12.68 billion, a price-to-earnings ratio of 17.16 and a beta of 0.67. Arch Capital Group Ltd. has a 12-month low of $76.47 and a 12-month high of $99.47. The company has a 50-day moving average price of $96.74 and a 200-day moving average price of $95.50.
Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.01. Arch Capital Group had a return on equity of 8.76% and a net margin of 15.65%. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the business earned $1.13 EPS. The business’s quarterly revenue was up 22.0% on a year-over-year basis. Equities analysts anticipate that Arch Capital Group Ltd. will post $5.32 EPS for the current year.
In related news, CEO Constantine Iordanou sold 50,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $97.88, for a total transaction of $4,894,000.00. Following the completion of the transaction, the chief executive officer now directly owns 171,901 shares in the company, valued at approximately $16,825,669.88. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP W Preston Hutchings sold 12,500 shares of the company’s stock in a transaction on 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 transaction, the senior vice president now owns 39,411 shares of the company’s stock, valued at $3,815,378.91. The disclosure for this sale can be found here. Insiders sold a total of 70,766 shares of company stock valued at $6,877,244 over the last quarter. Company insiders own 6.60% of the company’s stock.
Several equities analysts have commented on the stock. 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 note on Friday, August 11th. Wells Fargo & Company reiterated a “hold” rating on shares of Arch Capital Group in a research note on Wednesday, July 26th. BidaskClub upgraded 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 lowered shares of Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. Arch Capital Group currently has an average rating of “Hold” and an average price target of $94.14.
About Arch Capital Group
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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