PGGM Investments reduced its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 13.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 412,504 shares of the insurance provider’s stock after selling 63,164 shares during the period. PGGM Investments owned 0.31% of Arch Capital Group worth $38,482,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in ACGL. Russell Investments Group Ltd. raised its position in Arch Capital Group by 5.4% in the first quarter. Russell Investments Group Ltd. now owns 583,231 shares of the insurance provider’s stock valued at $55,263,000 after buying an additional 29,651 shares during the period. Mycio Wealth Partners LLC increased its stake in shares of Arch Capital Group by 2.7% in the first quarter. Mycio Wealth Partners LLC now owns 11,157 shares of the insurance provider’s stock valued at $1,057,000 after buying an additional 291 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Arch Capital Group by 7.8% in the first quarter. ProShare Advisors LLC now owns 17,926 shares of the insurance provider’s stock valued at $1,699,000 after buying an additional 1,300 shares in the last quarter. Profund Advisors LLC acquired a new stake in shares of Arch Capital Group during the first quarter valued at $232,000. Finally, Korea Investment CORP increased its stake in shares of Arch Capital Group by 101.8% in the first quarter. Korea Investment CORP now owns 42,071 shares of the insurance provider’s stock valued at $3,987,000 after buying an additional 21,226 shares in the last quarter. Hedge funds and other institutional investors own 73.13% of the company’s stock.
Arch Capital Group Ltd. (ACGL) traded up 0.36% during trading on Friday, reaching $98.05. The company had a trading volume of 373,967 shares. The company has a market capitalization of $13.19 billion, a P/E ratio of 17.83 and a beta of 0.67. Arch Capital Group Ltd. has a 12 month low of $73.97 and a 12 month high of $99.47. The firm’s 50 day moving average is $95.50 and its 200-day moving average is $94.38.
Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Wednesday, July 26th. The insurance provider reported $1.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.01. Arch Capital Group had a net margin of 15.65% and a return on equity of 9.09%. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the company earned $1.13 earnings per share. The firm’s revenue was up 22.0% on a year-over-year basis. On average, equities analysts expect that Arch Capital Group Ltd. will post $5.36 earnings per share for the current year.
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ACGL has been the subject of several recent analyst reports. Wells Fargo & Company reaffirmed a “hold” rating on shares of Arch Capital Group in a report on Wednesday, June 14th. Zacks Investment Research cut Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. BidaskClub cut Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 10th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $95.00 price objective on shares of Arch Capital Group in a research report on Tuesday, July 4th. Finally, Morgan Stanley boosted their price target on Arch Capital Group from $90.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $92.09.
In related news, Director John D. Vollaro sold 2,033 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $97.32, for a total value of $197,851.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Constantine Iordanou sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $97.88, for a total transaction of $4,894,000.00. Following the completion of the transaction, the chief executive officer now directly owns 171,901 shares in the company, valued at $16,825,669.88. The disclosure for this sale can be found here. Insiders sold 193,289 shares of company stock valued at $18,550,445 in the last three months. Company insiders own 6.60% of the company’s stock.
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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