Point72 Asset Management L.P. boosted its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 12.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 369,300 shares of the insurance provider’s stock after purchasing an additional 40,072 shares during the period. Point72 Asset Management L.P.’s holdings in Arch Capital Group were worth $15,839,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of ACGL. Voya Investment Management LLC boosted its holdings in shares of Arch Capital Group by 6.1% during the third quarter. Voya Investment Management LLC now owns 77,654 shares of the insurance provider’s stock worth $3,260,000 after purchasing an additional 4,459 shares during the period. Redpoint Investment Management Pty Ltd lifted its stake in shares of Arch Capital Group by 725.8% in the third quarter. Redpoint Investment Management Pty Ltd now owns 49,489 shares of the insurance provider’s stock worth $2,078,000 after buying an additional 43,496 shares in the last quarter. State Street Corp grew its holdings in shares of Arch Capital Group by 0.5% during the third quarter. State Street Corp now owns 10,365,711 shares of the insurance provider’s stock valued at $435,153,000 after buying an additional 52,060 shares during the last quarter. Pictet Asset Management Ltd. boosted its stake in Arch Capital Group by 25.7% during the 3rd quarter. Pictet Asset Management Ltd. now owns 210,224 shares of the insurance provider’s stock valued at $8,825,000 after purchasing an additional 43,000 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of Arch Capital Group by 0.3% during the third quarter. California State Teachers Retirement System now owns 640,800 shares of the insurance provider’s stock valued at $26,901,000 after buying an additional 2,110 shares during the last quarter. 79.51% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ ACGL traded up $3.95 during trading on Thursday, hitting $29.67. The company had a trading volume of 3,721,408 shares, compared to its average volume of 1,938,027. The stock has a 50 day simple moving average of $39.74 and a 200 day simple moving average of $41.51. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.56 and a current ratio of 0.56. Arch Capital Group Ltd. has a 12 month low of $22.54 and a 12 month high of $48.32. The firm has a market capitalization of $10.44 billion, a P/E ratio of 7.67, a price-to-earnings-growth ratio of 0.86 and a beta of 0.69.
Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.07. The company had revenue of $1.67 billion during the quarter. Arch Capital Group had a return on equity of 10.92% and a net margin of 23.47%. As a group, analysts predict that Arch Capital Group Ltd. will post 2.99 EPS for the current year.
In related news, CFO Francois Morin sold 6,990 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $48.16, for a total transaction of $336,638.40. Following the completion of the sale, the chief financial officer now owns 32,150 shares in the company, valued at $1,548,344. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP W Preston Hutchings sold 40,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $47.10, for a total value of $1,884,000.00. Following the sale, the senior vice president now owns 45,719 shares of the company’s stock, valued at approximately $2,153,364.90. The disclosure for this sale can be found here. Insiders have sold 86,990 shares of company stock worth $4,059,038 in the last ninety days. Insiders own 5.20% of the company’s stock.
A number of research firms have issued reports on ACGL. Wells Fargo & Co upgraded Arch Capital Group from an “equal weight” rating to an “overweight” rating and set a $48.00 price target for the company in a research note on Monday, January 6th. BidaskClub cut shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Friday, March 20th. Morgan Stanley raised their price objective on shares of Arch Capital Group from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. Barclays restated a “buy” rating and set a $52.00 target price on shares of Arch Capital Group in a research report on Tuesday, January 7th. Finally, Cfra upped their target price on shares of Arch Capital Group from $48.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $45.59.
Arch Capital Group Company Profile
Arch Capital Group Ltd., together with its subsidiaries, provides property, casualty, and mortgage insurance and reinsurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; collateral protection, debt cancellation, and service contract reimbursement products; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.
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