Clearbridge Investments LLC lowered its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 570,434 shares of the insurance provider’s stock after selling 1,494 shares during the period. Clearbridge Investments LLC owned 0.44% of Arch Capital Group worth $51,778,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of ACGL. Alps Advisors Inc. acquired a new stake in shares of Arch Capital Group during the fourth quarter valued at $203,000. Dai Ichi Life Insurance Company Ltd acquired a new stake in shares of Arch Capital Group during the third quarter valued at $242,000. IFM Investors Pty Ltd acquired a new stake in shares of Arch Capital Group during the third quarter valued at $260,000. Parametrica Management Ltd acquired a new stake in shares of Arch Capital Group during the fourth quarter valued at $261,000. Finally, Assetmark Inc. acquired a new stake in shares of Arch Capital Group during the third quarter valued at $299,000. 81.56% of the stock is currently owned by institutional investors and hedge funds.
ACGL has been the topic of a number of analyst reports. Wells Fargo & Co set a $100.00 price objective on Arch Capital Group and gave the company a “hold” rating in a research note on Sunday, December 10th. BidaskClub lowered Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $101.00 price objective on shares of Arch Capital Group in a research note on Wednesday, December 6th. Finally, ValuEngine lowered Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Arch Capital Group presently has a consensus rating of “Hold” and a consensus target price of $100.50.
Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Monday, February 12th. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the company earned $1.13 EPS. The firm’s quarterly revenue was up 27.4% on a year-over-year basis. equities analysts predict that Arch Capital Group Ltd. will post 6.21 earnings per share for the current year.
In other news, CEO Constantine Iordanou acquired 7,000 shares of Arch Capital Group stock in a transaction dated Thursday, February 15th. The shares were acquired at an average cost of $23.80 per share, with a total value of $166,600.00. Following the purchase, the chief executive officer now directly owns 7,000 shares of the company’s stock, valued at approximately $166,600. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Donald Lyons sold 6,000 shares of Arch Capital Group stock in a transaction dated Wednesday, February 28th. The shares were 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. Insiders own 6.60% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This report was first published by American Banking News and is owned by of American Banking News. If you are viewing this report on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark laws. The legal version of this report can be accessed at https://www.americanbankingnews.com/2018/03/14/clearbridge-investments-llc-has-51-78-million-position-in-arch-capital-group-ltd-acgl.html.
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.
Want to see what other hedge funds are holding ACGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arch Capital Group Ltd. (NASDAQ:ACGL).
Receive News & Ratings for Arch Capital Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arch Capital Group and related companies with MarketBeat.com's FREE daily email newsletter.