Amalgamated Bank boosted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 7.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,600 shares of the insurance provider’s stock after purchasing an additional 902 shares during the quarter. Amalgamated Bank’s holdings in Arch Capital Group were worth $1,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of ACGL. Alps Advisors Inc. bought a new stake in Arch Capital Group during the fourth quarter valued at about $203,000. Dai Ichi Life Insurance Company Ltd bought a new stake in Arch Capital Group during the third quarter valued at about $242,000. IFM Investors Pty Ltd bought a new stake in Arch Capital Group during the third quarter valued at about $260,000. Parametrica Management Ltd bought a new stake in Arch Capital Group during the fourth quarter valued at about $261,000. Finally, Assetmark Inc. bought a new stake in Arch Capital Group during the third quarter valued at about $299,000. 81.56% of the stock is currently owned by institutional investors.
Shares of Arch Capital Group Ltd. (NASDAQ ACGL) opened at $85.15 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $11,140.00, a PE ratio of 20.23, a price-to-earnings-growth ratio of 1.29 and a beta of 0.63. Arch Capital Group Ltd. has a twelve month low of $84.73 and a twelve month high of $102.60.
A number of equities research analysts recently weighed in on ACGL shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $101.00 price objective on shares of Arch Capital Group in a research report on Wednesday, December 6th. BidaskClub downgraded Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Wells Fargo & Co set a $100.00 price objective on Arch Capital Group and gave the company a “hold” rating in a research report on Sunday, December 10th. Finally, ValuEngine downgraded 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 issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $100.50.
In other Arch Capital Group news, CFO Mark Donald Lyons sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $89.39, for a total value of $536,340.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Constantine Iordanou purchased 7,000 shares of the stock in a transaction on Thursday, February 15th. The stock was acquired at an average cost of $23.80 per share, with a total value of $166,600.00. Following the acquisition, the chief executive officer now owns 7,000 shares of the company’s stock, valued at approximately $166,600. The disclosure for this purchase can be found here. 6.60% of the stock is currently owned by company insiders.
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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.
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