CIBC Asset Management Inc Has $1.14 Million Stake in Arch Capital Group Ltd. (ACGL)
CIBC Asset Management Inc raised its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 7.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,602 shares of the insurance provider’s stock after buying an additional 803 shares during the quarter. CIBC Asset Management Inc’s holdings in Arch Capital Group were worth $1,143,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of ACGL. Capstone Asset Management Co. grew its position in shares of Arch Capital Group by 13.6% during the 2nd quarter. Capstone Asset Management Co. now owns 3,748 shares of the insurance provider’s stock worth $350,000 after buying an additional 450 shares during the period. Bank of Montreal Can lifted its holdings in shares of Arch Capital Group by 6.5% during the 2nd quarter. Bank of Montreal Can now owns 91,671 shares of the insurance provider’s stock valued at $8,552,000 after purchasing an additional 5,631 shares in the last quarter. Gateway Investment Advisers LLC lifted its holdings in shares of Arch Capital Group by 0.9% during the 2nd quarter. Gateway Investment Advisers LLC now owns 2,855 shares of the insurance provider’s stock valued at $266,000 after purchasing an additional 26 shares in the last quarter. NN Investment Partners Holdings N.V. lifted its holdings in shares of Arch Capital Group by 943.1% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 8,428 shares of the insurance provider’s stock valued at $786,000 after purchasing an additional 7,620 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund bought a new position in shares of Arch Capital Group during the 2nd quarter valued at about $2,967,000. Institutional investors own 76.36% of the company’s stock.
Several research firms have recently weighed in on ACGL. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $100.00 price objective on shares of Arch Capital Group in a report on Thursday, September 21st. Wells Fargo & Company set a $100.00 price objective on Arch Capital Group and gave the company a “hold” rating in a report on Thursday, October 26th. UBS AG reiterated a “buy” rating on shares of Arch Capital Group in a report on Monday, October 30th. Barclays PLC lifted their price objective on Arch Capital Group from $91.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday, October 16th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $113.00 price objective on shares of Arch Capital Group in a report on Friday, October 27th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Arch Capital Group currently has an average rating of “Hold” and a consensus target price of $100.70.
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In other Arch Capital Group news, CEO Andrew Rippert sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $94.25, for a total value of $329,875.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Nicolas Papadopoulo sold 54,554 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $95.53, for a total value of $5,211,543.62. Following the completion of the sale, the chief executive officer now owns 147,481 shares in the company, valued at approximately $14,088,859.93. The disclosure for this sale can be found here. Insiders sold a total of 187,633 shares of company stock worth $17,864,402 in the last 90 days. Company insiders own 6.60% of the company’s stock.
Shares of Arch Capital Group Ltd. (NASDAQ:ACGL) opened at $95.96 on Friday. The company has a market capitalization of $12,558.67, a P/E ratio of 32.31, a price-to-earnings-growth ratio of 2.67 and a beta of 0.70. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.83 and a quick ratio of 0.83. Arch Capital Group Ltd. has a 12 month low of $79.95 and a 12 month high of $102.60.
Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Wednesday, October 25th. The insurance provider reported ($0.79) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by ($0.20). The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.16 billion. Arch Capital Group had a net margin of 9.44% and a return on equity of 5.57%. The company’s revenue was up 30.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.14 EPS. equities research analysts expect that Arch Capital Group Ltd. will post 3.25 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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