Vanguard Group Inc. Acquires 742,855 Shares of Arch Capital Group Ltd. (ACGL)
Vanguard Group Inc. raised its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 7.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,331,707 shares of the insurance provider’s stock after acquiring an additional 742,855 shares during the quarter. Vanguard Group Inc. owned approximately 7.68% of Arch Capital Group worth $963,845,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of ACGL. Proficio Capital Partners LLC grew its holdings 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 worth $104,000 after buying an additional 471 shares in the last quarter. Acrospire Investment Management LLC purchased a new stake in shares of Arch Capital Group during the second quarter worth about $112,000. Vantage Investment Advisors LLC grew its holdings in shares of Arch Capital Group by 1,372.9% during the second quarter. Vantage Investment Advisors LLC now owns 1,252 shares of the insurance provider’s stock worth $117,000 after buying an additional 1,167 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Arch Capital Group by 13.1% during 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 in the last quarter. Finally, Crow Point Partners LLC purchased a new stake in shares of Arch Capital Group during the second quarter worth about $174,000. Hedge funds and other institutional investors own 76.91% of the company’s stock.
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A number of equities research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Arch Capital Group from a “hold” rating to a “sell” rating in a report on Tuesday. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $100.00 price target on shares of Arch Capital Group in a report on Thursday, September 21st. UBS AG lowered their price target on shares of Arch Capital Group from $114.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, September 19th. Buckingham Research assumed coverage on shares of Arch Capital Group in a report on Monday, September 11th. They set a “buy” rating and a $106.00 price target for the company. Finally, Wells Fargo & Company reiterated a “hold” rating on shares of Arch Capital Group in a report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Arch Capital Group presently has a consensus rating of “Hold” and a consensus target price of $97.22.
In other Arch Capital Group news, CEO Nicolas Papadopoulo sold 80,694 shares of the business’s 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Constantine Iordanou sold 50,000 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $97.88, for a total value of $4,894,000.00. Following the sale, the chief executive officer now owns 171,901 shares in the company, valued at approximately $16,825,669.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 195,579 shares of company stock worth $18,756,983. Corporate insiders own 6.60% of the company’s stock.
Shares of Arch Capital Group Ltd. (ACGL) opened at 98.73 on Thursday. The company has a 50 day moving average of $96.62 and a 200 day moving average of $95.63. Arch Capital Group Ltd. has a 52-week low of $76.47 and a 52-week high of $99.47. The firm has a market capitalization of $13.28 billion, a PE ratio of 17.96 and a beta of 0.67.
Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.21 earnings per share (EPS) 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 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 business’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.13 EPS. On average, analysts anticipate that Arch Capital Group Ltd. will post $5.37 earnings per share for the current fiscal year.
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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