First Republic Investment Management Inc. increased its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 8.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,511 shares of the insurance provider’s stock after acquiring an additional 3,099 shares during the period. First Republic Investment Management Inc.’s holdings in Arch Capital Group were worth $3,990,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. Swiss National Bank grew its holdings in Arch Capital Group by 8.0% during the second quarter. Swiss National Bank now owns 842,768 shares of the insurance provider’s stock valued at $78,622,000 after purchasing an additional 62,700 shares during the period. Delta Lloyd Asset Management N.V. bought a new position in shares of Arch Capital Group in the second quarter worth $1,232,000. Marshall Wace North America L.P. boosted its holdings in shares of Arch Capital Group by 84.7% in the second quarter. Marshall Wace North America L.P. now owns 9,724 shares of the insurance provider’s stock worth $904,000 after acquiring an additional 4,459 shares during the period. OMERS ADMINISTRATION Corp bought a new position in shares of Arch Capital Group in the second quarter worth $2,230,000. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Arch Capital Group by 5.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 401,129 shares of the insurance provider’s stock worth $37,422,000 after acquiring an additional 19,287 shares during the period. Institutional investors own 79.41% of the company’s stock.
In other news, CEO Nicolas Papadopoulo sold 54,554 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $95.53, for a total transaction of $5,211,543.62. Following the completion of the sale, the chief executive officer now owns 147,481 shares of the company’s stock, valued at approximately $14,088,859.93. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Louis T. Petrillo sold 5,921 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $91.07, for a total transaction of $539,225.47. Following the sale, the insider now directly owns 43,268 shares of the company’s stock, valued at approximately $3,940,416.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,975 shares of company stock valued at $6,256,989. Company insiders own 6.60% of the company’s stock.
A number of equities research analysts recently issued reports on ACGL shares. Buckingham Research started coverage on Arch Capital Group in a research report on Monday, September 11th. They issued a “buy” rating and a $106.00 price objective on the stock. UBS Group lowered their price target on Arch Capital Group from $114.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, September 19th. Keefe, Bruyette & Woods restated a “hold” rating and set a $100.00 price target on shares of Arch Capital Group in a research report on Thursday, September 21st. Zacks Investment Research downgraded Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. Finally, Barclays lifted their price objective on Arch Capital Group from $91.00 to $95.00 and gave the stock an “equal weight” rating in a report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $100.80.
Shares of Arch Capital Group Ltd. (NASDAQ:ACGL) traded down $2.47 during midday trading on Tuesday, reaching $88.30. 444,696 shares of the company were exchanged, compared to its average volume of 416,800. Arch Capital Group Ltd. has a 52 week low of $84.21 and a 52 week high of $102.60. The stock has a market cap of $11,879.43, a price-to-earnings ratio of 28.48, a P/E/G ratio of 2.62 and a beta of 0.67. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.83 and a current ratio of 0.83.
Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Wednesday, October 25th. The insurance provider reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.20). The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Arch Capital Group had a net margin of 9.44% and a return on equity of 5.57%. Arch Capital Group’s quarterly revenue was up 30.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 earnings per share. equities research analysts predict that Arch Capital Group Ltd. will post 3.15 earnings per share for the current year.
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Arch Capital Group Company Profile
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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