7,974 Shares in Arch Capital Group Ltd. $ACGL Acquired by Summit Global Investments

Summit Global Investments bought a new stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 7,974 shares of the insurance provider’s stock, valued at approximately $723,000.

Several other institutional investors and hedge funds also recently modified their holdings of ACGL. Geneos Wealth Management Inc. raised its stake in shares of Arch Capital Group by 157.9% during the first quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider’s stock valued at $65,000 after purchasing an additional 412 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Arch Capital Group in the 2nd quarter worth approximately $253,000. HB Wealth Management LLC boosted its holdings in shares of Arch Capital Group by 3.6% in the second quarter. HB Wealth Management LLC now owns 12,931 shares of the insurance provider’s stock valued at $1,177,000 after acquiring an additional 450 shares in the last quarter. Greenleaf Trust increased its stake in shares of Arch Capital Group by 4.2% during the second quarter. Greenleaf Trust now owns 3,082 shares of the insurance provider’s stock valued at $281,000 after acquiring an additional 125 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Arch Capital Group by 10.1% during the second quarter. Robeco Institutional Asset Management B.V. now owns 516,636 shares of the insurance provider’s stock worth $47,040,000 after purchasing an additional 47,435 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ACGL. The Goldman Sachs Group reaffirmed a “sell” rating and set a $93.00 price target (up from $84.00) on shares of Arch Capital Group in a research note on Wednesday, January 7th. Mizuho set a $95.00 target price on Arch Capital Group and gave the company a “neutral” rating in a research note on Monday, December 15th. Morgan Stanley set a $125.00 price target on shares of Arch Capital Group in a research report on Friday, January 16th. Wells Fargo & Company cut their price target on shares of Arch Capital Group from $111.00 to $106.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Finally, Royal Bank Of Canada set a $108.00 price objective on shares of Arch Capital Group and gave the stock an “outperform” rating in a research note on Monday, November 24th. Eight analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Arch Capital Group presently has a consensus rating of “Hold” and an average target price of $107.53.

Insider Activity at Arch Capital Group

In related news, CFO Francois Morin sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $94.62, for a total value of $756,960.00. Following the completion of the sale, the chief financial officer owned 266,681 shares in the company, valued at approximately $25,233,356.22. This represents a 2.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John M. Pasquesi sold 8,800 shares of Arch Capital Group stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $94.17, for a total transaction of $828,696.00. Following the transaction, the insider owned 289,556 shares in the company, valued at approximately $27,267,488.52. The trade was a 2.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 220,666 shares of company stock valued at $20,728,673. 4.20% of the stock is owned by insiders.

Arch Capital Group Price Performance

ACGL stock opened at $96.04 on Friday. Arch Capital Group Ltd. has a one year low of $82.44 and a one year high of $97.60. The firm has a 50-day moving average of $93.95 and a two-hundred day moving average of $91.17. The firm has a market capitalization of $34.83 billion, a PE ratio of 8.98, a P/E/G ratio of 2.01 and a beta of 0.45. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.13.

Arch Capital Group Company Profile

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.