Mesirow Financial Investment Management Inc. Sells 889 Shares of Arch Capital Group Ltd. $ACGL

Mesirow Financial Investment Management Inc. reduced its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 23.9% during the second quarter, Holdings Channel reports. The fund owned 2,828 shares of the insurance provider’s stock after selling 889 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Arch Capital Group were worth $258,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Simon Quick Advisors LLC grew its position in Arch Capital Group by 15.5% during the second quarter. Simon Quick Advisors LLC now owns 2,750 shares of the insurance provider’s stock valued at $250,000 after acquiring an additional 370 shares during the last quarter. Strs Ohio grew its position in Arch Capital Group by 2.7% during the second quarter. Strs Ohio now owns 358,961 shares of the insurance provider’s stock valued at $32,683,000 after acquiring an additional 9,395 shares during the last quarter. Atria Investments Inc grew its position in Arch Capital Group by 1.3% during the second quarter. Atria Investments Inc now owns 40,446 shares of the insurance provider’s stock valued at $3,683,000 after acquiring an additional 523 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Arch Capital Group by 6.2% during the second quarter. Assetmark Inc. now owns 1,088,814 shares of the insurance provider’s stock valued at $99,136,000 after purchasing an additional 63,423 shares during the period. Finally, Daymark Wealth Partners LLC purchased a new stake in shares of Arch Capital Group during the second quarter valued at approximately $293,000. 89.07% of the stock is currently owned by institutional investors.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $86.31 on Monday. The stock has a fifty day moving average of $89.77 and a 200 day moving average of $90.57. Arch Capital Group Ltd. has a 52 week low of $82.44 and a 52 week high of $103.21. The firm has a market capitalization of $32.21 billion, a price-to-earnings ratio of 8.07, a PEG ratio of 3.24 and a beta of 0.47. The company has a quick ratio of 0.56, a current ratio of 0.55 and a debt-to-equity ratio of 0.13.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Monday, October 27th. The insurance provider reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $1.01. Arch Capital Group had a return on equity of 16.38% and a net margin of 20.96%.The company had revenue of $3.96 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter last year, the firm posted $1.99 earnings per share. As a group, research analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on ACGL. Keefe, Bruyette & Woods increased their price objective on Arch Capital Group from $102.00 to $103.00 and gave the company a “market perform” rating in a research note on Thursday, August 14th. JPMorgan Chase & Co. increased their price objective on Arch Capital Group from $110.00 to $111.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Citigroup reissued a “market outperform” rating on shares of Arch Capital Group in a research note on Tuesday, October 28th. Cantor Fitzgerald reissued a “neutral” rating and set a $98.00 price objective on shares of Arch Capital Group in a research note on Tuesday, October 28th. Finally, UBS Group reissued a “buy” rating and set a $118.00 price objective (down previously from $124.00) on shares of Arch Capital Group in a research note on Monday, August 4th. Eight research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $108.64.

Insider Buying and Selling

In related news, insider Maamoun Rajeh sold 10,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total value of $941,500.00. Following the completion of the sale, the insider owned 433,589 shares of the company’s stock, valued at $40,822,404.35. This trade represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.20% of the stock is owned by insiders.

About Arch Capital Group

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.