Aviva PLC trimmed its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 3.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 187,688 shares of the insurance provider’s stock after selling 6,580 shares during the period. Aviva PLC’s holdings in Arch Capital Group were worth $5,595,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of ACGL. Artisan Partners Limited Partnership grew its position in Arch Capital Group by 200.9% in the second quarter. Artisan Partners Limited Partnership now owns 54,463,667 shares of the insurance provider’s stock worth $1,441,109,000 after acquiring an additional 36,361,761 shares in the last quarter. BlackRock Inc. grew its position in Arch Capital Group by 195.1% in the second quarter. BlackRock Inc. now owns 26,041,657 shares of the insurance provider’s stock worth $689,063,000 after acquiring an additional 17,217,697 shares in the last quarter. Renaissance Technologies LLC grew its position in Arch Capital Group by 200.9% in the second quarter. Renaissance Technologies LLC now owns 6,255,400 shares of the insurance provider’s stock worth $165,518,000 after acquiring an additional 4,176,300 shares in the last quarter. FMR LLC grew its position in Arch Capital Group by 182.3% in the second quarter. FMR LLC now owns 6,262,026 shares of the insurance provider’s stock worth $165,693,000 after acquiring an additional 4,043,479 shares in the last quarter. Finally, Marshfield Associates grew its position in Arch Capital Group by 215.4% in the second quarter. Marshfield Associates now owns 4,551,811 shares of the insurance provider’s stock worth $120,441,000 after acquiring an additional 3,108,441 shares in the last quarter. 80.63% of the stock is owned by institutional investors.
Several analysts have commented on the stock. BidaskClub downgraded shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Friday, August 31st. Zacks Investment Research downgraded shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. Finally, Morgan Stanley set a $22.00 price objective on shares of Arch Capital Group and gave the stock a “hold” rating in a research note on Wednesday, November 14th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Arch Capital Group presently has a consensus rating of “Hold” and a consensus target price of $29.60.
In related news, SVP W Preston Hutchings sold 15,000 shares of the company’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $30.00, for a total transaction of $450,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian S. Posner bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 28th. The shares were bought at an average price of $25.05 per share, with a total value of $25,050.00. Following the completion of the purchase, the director now owns 3,000 shares in the company, valued at $75,150. The disclosure for this purchase can be found here. Insiders sold 47,666 shares of company stock valued at $1,410,330 over the last 90 days. 5.10% of the stock is owned by corporate insiders.
Shares of Arch Capital Group stock opened at $27.74 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.30. Arch Capital Group Ltd. has a 1-year low of $25.71 and a 1-year high of $31.59. The firm has a market capitalization of $11.31 billion, a PE ratio of 25.93, a PEG ratio of 1.15 and a beta of 0.67.
Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Tuesday, October 30th. The insurance provider reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.07. Arch Capital Group had a net margin of 15.15% and a return on equity of 10.30%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the company earned ($0.13) earnings per share. Arch Capital Group’s revenue for the quarter was up .6% on a year-over-year basis. As a group, analysts anticipate that Arch Capital Group Ltd. will post 2.22 EPS for the current year.
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About Arch Capital Group
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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