Westpac Banking Corp maintained its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,724 shares of the insurance provider’s stock at the end of the 2nd quarter. Westpac Banking Corp’s holdings in Arch Capital Group were worth $721,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Legal & General Group Plc increased its stake in Arch Capital Group by 7.7% in the first quarter. Legal & General Group Plc now owns 677,060 shares of the insurance provider’s stock valued at $64,162,000 after purchasing an additional 48,635 shares during the last quarter. Swiss National Bank increased its stake in Arch Capital Group by 8.0% during the second quarter. Swiss National Bank now owns 842,768 shares of the insurance provider’s stock worth $78,622,000 after acquiring an additional 62,700 shares during the last quarter. Eagle Asset Management Inc. increased its stake in Arch Capital Group by 87.0% during the first quarter. Eagle Asset Management Inc. now owns 114,756 shares of the insurance provider’s stock worth $9,383,000 after acquiring an additional 53,384 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Arch Capital Group by 33.5% during the first quarter. Nomura Asset Management Co. Ltd. now owns 75,053 shares of the insurance provider’s stock worth $7,113,000 after acquiring an additional 18,822 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Arch Capital Group by 0.7% during the first quarter. Principal Financial Group Inc. now owns 1,819,732 shares of the insurance provider’s stock worth $172,456,000 after acquiring an additional 12,071 shares during the last quarter. Institutional investors and hedge funds own 76.92% of the company’s stock.

Shares of Arch Capital Group Ltd. (NASDAQ:ACGL) opened at 97.69 on Wednesday. The stock has a market capitalization of $13.14 billion, a price-to-earnings ratio of 17.77 and a beta of 0.67. Arch Capital Group Ltd. has a one year low of $76.47 and a one year high of $99.47. The company’s 50 day moving average price is $96.69 and its 200 day moving average price is $95.54.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Wednesday, July 26th. The insurance provider reported $1.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.01. The firm had revenue of $1.25 billion during 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 8.76%. The company’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.13 EPS. On average, analysts expect that Arch Capital Group Ltd. will post $5.31 earnings per share for the current fiscal year.

Several equities research analysts have commented on ACGL shares. Wells Fargo & Company restated a “hold” rating on shares of Arch Capital Group in a research note on Wednesday, June 14th. Keefe, Bruyette & Woods set a $100.00 price target on Arch Capital Group and gave the company a “hold” rating in a report on Friday, August 11th. Zacks Investment Research downgraded Arch Capital Group from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. BidaskClub downgraded Arch Capital Group from a “hold” rating to a “sell” rating in a report on Saturday, June 10th. Finally, Buckingham Research assumed coverage on Arch Capital Group in a report on Monday. They issued a “buy” rating and a $106.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $95.63.

In other news, SVP W Preston Hutchings sold 12,500 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $96.81, for a total transaction of $1,210,125.00. Following the completion of the transaction, the senior vice president now directly owns 39,411 shares in the company, valued at approximately $3,815,378.91. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Nicolas Papadopoulo sold 80,694 shares of the stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $93.80, for a total transaction of $7,569,097.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,694 shares of company stock valued at $14,003,097. Company insiders own 6.60% of the company’s stock.

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Arch Capital Group 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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