Arch Capital Group Ltd. (ACGL) Position Cut by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership cut its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,637,084 shares of the insurance provider’s stock after selling 11,727 shares during the quarter. Arch Capital Group accounts for about 3.1% of Artisan Partners Limited Partnership’s investment portfolio, making the stock its 3rd largest holding. Artisan Partners Limited Partnership owned about 13.11% of Arch Capital Group worth $1,645,364,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Proficio Capital Partners LLC increased its position in 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 period. Vantage Investment Advisors LLC increased its position in Arch Capital Group by 1,372.9% in the second quarter. Vantage Investment Advisors LLC now owns 1,252 shares of the insurance provider’s stock worth $117,000 after buying an additional 1,167 shares during the period. Toronto Dominion Bank increased its position in 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 increased its position in 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. Finally, Crow Point Partners LLC acquired a new stake in Arch Capital Group in the second quarter worth $174,000. Hedge funds and other institutional investors own 76.92% of the company’s stock.

Shares of Arch Capital Group Ltd. (NASDAQ ACGL) traded down 0.07% on Friday, hitting $96.41. The stock had a trading volume of 1,048,654 shares. The company has a market cap of $12.97 billion, a price-to-earnings ratio of 17.54 and a beta of 0.67. The firm has a 50 day moving average price of $96.61 and a 200-day moving average price of $95.60. Arch Capital Group Ltd. has a 52 week low of $76.47 and a 52 week high of $99.47.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.01. Arch Capital Group had a return on equity of 8.76% and a net margin of 15.65%. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the company posted $1.13 EPS. The business’s revenue for the quarter was up 22.0% compared to the same quarter last year. Analysts anticipate that Arch Capital Group Ltd. will post $5.28 EPS for the current year.

In other Arch Capital Group news, SVP W Preston Hutchings sold 12,500 shares of Arch Capital Group stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $96.81, for a total value of $1,210,125.00. Following the completion of the transaction, the senior vice president now owns 39,411 shares in the company, valued at approximately $3,815,378.91. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Constantine Iordanou sold 50,000 shares of Arch Capital Group stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $97.88, for a total value of $4,894,000.00. Following the completion of the transaction, the chief executive officer now owns 171,901 shares of the company’s stock, valued at approximately $16,825,669.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 195,579 shares of company stock valued at $18,756,983. Corporate insiders own 6.60% of the company’s stock.

Several equities research analysts have weighed in 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 target price on the stock. Keefe, Bruyette & Woods set a $100.00 target price on Arch Capital Group and gave the stock a “hold” rating in a research report on Friday, August 11th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Arch Capital Group in a research report on Wednesday, July 26th. BidaskClub raised Arch Capital Group from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Finally, Zacks Investment Research lowered Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $95.63.

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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.

Institutional Ownership by Quarter for Arch Capital Group (NASDAQ:ACGL)

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