Bamco Inc. NY Cuts Stock Position in Arch Capital Group Ltd. $ACGL

Bamco Inc. NY cut its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 4.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 18,759,655 shares of the insurance provider’s stock after selling 967,575 shares during the quarter. Arch Capital Group comprises 4.5% of Bamco Inc. NY’s holdings, making the stock its 2nd biggest position. Bamco Inc. NY owned approximately 0.05% of Arch Capital Group worth $1,702,063,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in Arch Capital Group by 37.1% during the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 10,886 shares of the insurance provider’s stock worth $988,000 after buying an additional 2,947 shares during the period. Bank of Nova Scotia lifted its stake in Arch Capital Group by 99.9% in the third quarter. Bank of Nova Scotia now owns 160,356 shares of the insurance provider’s stock valued at $14,549,000 after buying an additional 80,128 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in shares of Arch Capital Group in the third quarter valued at approximately $311,000. Aquatic Capital Management LLC boosted its holdings in shares of Arch Capital Group by 20.7% in the third quarter. Aquatic Capital Management LLC now owns 90,101 shares of the insurance provider’s stock valued at $8,175,000 after buying an additional 15,479 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of Arch Capital Group by 5.7% during the third quarter. Alliancebernstein L.P. now owns 467,886 shares of the insurance provider’s stock worth $42,451,000 after acquiring an additional 25,088 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ACGL shares. Citigroup restated a “buy” rating and set a $120.00 price objective (up from $113.00) on shares of Arch Capital Group in a report on Friday, February 13th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $104.00 target price (up from $102.00) on shares of Arch Capital Group in a research note on Thursday, February 12th. Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 target price (up from $97.00) on shares of Arch Capital Group in a report on Tuesday, February 17th. Wells Fargo & Company lifted their price target on Arch Capital Group from $106.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, February 11th. Finally, UBS Group restated a “buy” rating and issued a $114.00 price target (up from $113.00) on shares of Arch Capital Group in a report on Tuesday, February 17th. Nine analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $109.20.

Arch Capital Group Stock Down 0.8%

Arch Capital Group stock opened at $93.47 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.13. Arch Capital Group Ltd. has a 1-year low of $82.44 and a 1-year high of $103.39. The company has a fifty day simple moving average of $96.21 and a 200 day simple moving average of $93.03. The company has a market cap of $33.26 billion, a P/E ratio of 8.04, a price-to-earnings-growth ratio of 3.80 and a beta of 0.40.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Monday, February 9th. The insurance provider reported $2.98 EPS for the quarter, topping the consensus estimate of $2.34 by $0.64. Arch Capital Group had a net margin of 22.07% and a return on equity of 16.73%. The firm had revenue of $4.93 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the previous year, the firm posted $2.26 EPS. Research analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Nicolas Papadopoulo sold 21,930 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $96.31, for a total transaction of $2,112,078.30. Following the completion of the transaction, the chief executive officer directly owned 871,594 shares of the company’s stock, valued at approximately $83,943,218.14. This represents a 2.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Maamoun Rajeh sold 47,430 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $96.12, for a total value of $4,558,971.60. Following the completion of the transaction, the insider owned 433,589 shares of the company’s stock, valued at approximately $41,676,574.68. This represents a 9.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 87,067 shares of company stock valued at $8,120,333 in the last quarter. 4.20% of the stock is currently owned by corporate insiders.

Arch Capital Group 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.