SG Capital Management LLC increased its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 195.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 164,366 shares of the insurance provider’s stock after buying an additional 108,735 shares during the period. Arch Capital Group accounts for 2.7% of SG Capital Management LLC’s holdings, making the stock its 14th largest position. SG Capital Management LLC owned about 0.12% of Arch Capital Group worth $15,334,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC increased its stake in shares of Arch Capital Group by 75.5% in the first quarter. Proficio Capital Partners LLC now owns 1,095 shares of the insurance provider’s stock worth $104,000 after buying an additional 471 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Arch Capital Group by 26.5% in the first quarter. Toronto Dominion Bank now owns 1,343 shares of the insurance provider’s stock worth $127,000 after buying an additional 281 shares during the period. Parallel Advisors LLC boosted its stake in shares of Arch Capital Group by 13.1% in the first quarter. Parallel Advisors LLC now owns 1,350 shares of the insurance provider’s stock worth $130,000 after buying an additional 156 shares during the period. Crow Point Partners LLC purchased a new stake in shares of Arch Capital Group during the second quarter worth approximately $174,000. Finally, Atria Investments LLC purchased a new stake in shares of Arch Capital Group during the second quarter worth approximately $203,000. Institutional investors own 70.23% of the company’s stock.
Arch Capital Group Ltd. (NASDAQ:ACGL) traded down 0.40% during mid-day trading on Friday, hitting $96.14. The company had a trading volume of 264,226 shares. The firm’s 50 day moving average is $96.20 and its 200 day moving average is $94.79. The company has a market capitalization of $12.93 billion, a price-to-earnings ratio of 17.49 and a beta of 0.67. Arch Capital Group Ltd. has a 52 week low of $74.16 and a 52 week high of $99.47.
Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Wednesday, July 26th. The insurance provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.01. Arch Capital Group had a net margin of 15.65% and a return on equity of 8.76%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the company posted $1.13 EPS. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. On average, equities research analysts predict that Arch Capital Group Ltd. will post $5.35 EPS for the current year.
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A number of equities research analysts have commented on ACGL shares. Wells Fargo & Company reissued a “hold” rating on shares of Arch Capital Group in a research note 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 reaffirmed a “hold” rating and set a $95.00 target price on shares of Arch Capital Group in a research report on Tuesday, July 4th. Finally, Morgan Stanley boosted their price objective 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 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. The company currently has a consensus rating of “Hold” and a consensus price target of $92.55.
In related news, CEO Constantine Iordanou sold 37,168 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $95.52, for a total transaction of $3,550,287.36. Following the completion of the transaction, the chief executive officer now owns 178,072 shares in the company, valued at approximately $17,009,437.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP W Preston Hutchings sold 12,500 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $96.81, for a total transaction of $1,210,125.00. Following the transaction, the senior vice president now owns 39,411 shares of the company’s stock, valued at approximately $3,815,378.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 203,756 shares of company stock worth $19,562,718. Corporate insiders own 6.60% of the company’s stock.
About Arch Capital Group
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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