Clearbridge Investments LLC lowered its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 570,434 shares of the insurance provider’s stock after selling 1,494 shares during the quarter. Clearbridge Investments LLC’s holdings in Arch Capital Group were worth $51,778,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its position in Arch Capital Group by 28.1% during the 4th quarter. State of Alaska Department of Revenue now owns 41,268 shares of the insurance provider’s stock worth $3,745,000 after acquiring an additional 9,060 shares during the period. Teacher Retirement System of Texas acquired a new position in Arch Capital Group during the 4th quarter worth $3,332,000. WINTON GROUP Ltd boosted its position in Arch Capital Group by 47.2% during the 3rd quarter. WINTON GROUP Ltd now owns 11,448 shares of the insurance provider’s stock worth $1,128,000 after acquiring an additional 3,669 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Arch Capital Group by 5.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 273,416 shares of the insurance provider’s stock worth $24,818,000 after acquiring an additional 12,930 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Arch Capital Group by 141.2% during the 4th quarter. Victory Capital Management Inc. now owns 585,047 shares of the insurance provider’s stock worth $53,105,000 after acquiring an additional 342,497 shares during the period. Institutional investors and hedge funds own 81.56% of the company’s stock.
A number of brokerages have issued reports on ACGL. BidaskClub lowered Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $101.00 price target on shares of Arch Capital Group in a research report on Wednesday, December 6th. Wells Fargo & Co set a $100.00 price target on Arch Capital Group and gave the stock a “hold” rating in a research report on Sunday, December 10th. Finally, ValuEngine lowered Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Arch Capital Group presently has a consensus rating of “Hold” and an average price target of $100.50.
Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Monday, February 12th. The insurance provider reported $1.34 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.21. Arch Capital Group had a return on equity of 5.87% and a net margin of 11.21%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the business earned $1.13 EPS. The company’s quarterly revenue was up 27.4% compared to the same quarter last year. research analysts forecast that Arch Capital Group Ltd. will post 6.21 earnings per share for the current fiscal year.
In other news, CEO Constantine Iordanou acquired 7,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were bought at an average price of $23.80 per share, with a total value of $166,600.00. Following the purchase, the chief executive officer now owns 7,000 shares of the company’s stock, valued at $166,600. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark Donald Lyons sold 6,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $89.39, for a total value of $536,340.00. The disclosure for this sale can be found here. 6.60% of the stock is currently owned by insiders.
Arch Capital Group 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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