Arch Capital Group Ltd. (ACGL) Position Decreased by Stifel Financial Corp
Stifel Financial Corp reduced its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 303,531 shares of the insurance provider’s stock after selling 2,208 shares during the quarter. Stifel Financial Corp owned about 0.23% of Arch Capital Group worth $28,317,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of ACGL. Proficio Capital Partners LLC raised its stake in shares of Arch Capital Group by 75.5% during 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 in the last quarter. Acrospire Investment Management LLC bought a new stake in Arch Capital Group in the second quarter worth about $112,000. Vantage Investment Advisors LLC raised its position in Arch Capital Group by 1,372.9% in the second quarter. Vantage Investment Advisors LLC now owns 1,252 shares of the insurance provider’s stock worth $117,000 after acquiring an additional 1,167 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 worth $130,000 after acquiring an additional 156 shares in the last quarter. Finally, Crow Point Partners LLC bought a new stake in Arch Capital Group in the second quarter worth about $174,000. Institutional investors and hedge funds own 76.91% of the company’s stock.
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In other news, SVP W Preston Hutchings sold 12,500 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 39,411 shares of the company’s stock, valued at $3,815,378.91. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Nicolas Papadopoulo sold 38,918 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $97.23, for a total value of $3,783,997.14. Following the completion of the sale, the chief executive officer now directly owns 182,035 shares of the company’s stock, valued at $17,699,263.05. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 195,579 shares of company stock worth $18,756,983. 6.60% of the stock is owned by company insiders.
Arch Capital Group Ltd. (ACGL) traded down 0.329% during midday trading on Thursday, hitting $98.405. The stock had a trading volume of 71,023 shares. The stock has a market capitalization of $13.23 billion, a price-to-earnings ratio of 17.898 and a beta of 0.67. The company’s 50 day moving average price is $96.62 and its 200-day moving average price is $95.63. Arch Capital Group Ltd. has a 52 week low of $76.47 and a 52 week high of $99.47.
Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.28 billion. Arch Capital Group had a return on equity of 8.76% and a net margin of 15.65%. The firm’s revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.13 EPS. Equities analysts anticipate that Arch Capital Group Ltd. will post $5.37 earnings per share for the current fiscal year.
A number of equities analysts recently weighed in on ACGL shares. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $100.00 price target on shares of Arch Capital Group in a research note on Thursday, September 21st. BidaskClub cut Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 10th. Wells Fargo & Company reissued a “hold” rating on shares of Arch Capital Group in a research note on Wednesday, July 26th. UBS AG lowered their price target on Arch Capital Group from $114.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, September 19th. Finally, Buckingham Research assumed coverage on Arch Capital Group in a research note on Monday, September 11th. They issued a “buy” rating and a $106.00 price target for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $97.22.
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.
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