Hsbc Holdings PLC lowered its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 46.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 143,808 shares of the insurance provider’s stock after selling 126,094 shares during the quarter. Hsbc Holdings PLC’s holdings in Arch Capital Group were worth $3,842,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in shares of Arch Capital Group by 191.9% during the second quarter. Bank of New York Mellon Corp now owns 1,610,368 shares of the insurance provider’s stock worth $42,611,000 after buying an additional 1,058,679 shares during the period. US Bancorp DE boosted its position in shares of Arch Capital Group by 9.3% during the third quarter. US Bancorp DE now owns 38,960 shares of the insurance provider’s stock worth $1,163,000 after buying an additional 3,331 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Arch Capital Group by 14.8% during the third quarter. JPMorgan Chase & Co. now owns 342,236 shares of the insurance provider’s stock worth $10,202,000 after buying an additional 44,162 shares during the period. Toronto Dominion Bank raised its stake in shares of Arch Capital Group by 8.3% in the third quarter. Toronto Dominion Bank now owns 44,250 shares of the insurance provider’s stock valued at $1,319,000 after acquiring an additional 3,393 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of Arch Capital Group by 2.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 175,107 shares of the insurance provider’s stock valued at $5,220,000 after acquiring an additional 3,624 shares in the last quarter. Institutional investors and hedge funds own 79.52% of the company’s stock.
In other Arch Capital Group news, SVP W Preston Hutchings sold 2,500 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $32.40, for a total value of $81,000.00. Following the sale, the senior vice president now directly owns 62,216 shares in the company, valued at $2,015,798.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Yiorgos Lillikas sold 2,000 shares of the firm’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $32.30, for a total value of $64,600.00. Following the completion of the sale, the director now owns 51,214 shares in the company, valued at $1,654,212.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,648 shares of company stock worth $1,451,332. 5.10% of the stock is owned by insiders.
Shares of NASDAQ ACGL opened at $32.87 on Friday. The firm has a market capitalization of $13.23 billion, a PE ratio of 14.94, a P/E/G ratio of 1.16 and a beta of 0.70. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.51 and a current ratio of 0.51. Arch Capital Group Ltd. has a 12-month low of $24.79 and a 12-month high of $33.04.
Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, February 12th. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.08. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Arch Capital Group had a return on equity of 10.09% and a net margin of 13.91%. During the same period last year, the firm earned $1.34 earnings per share. As a group, analysts anticipate that Arch Capital Group Ltd. will post 2.55 earnings per share for the current year.
ACGL has been the topic of several analyst reports. Barclays upgraded Arch Capital Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $29.00 to $32.00 in a research note on Wednesday, January 9th. ValuEngine upgraded Arch Capital Group from a “strong sell” rating to a “sell” rating in a research note on Saturday, February 2nd. BidaskClub upgraded Arch Capital Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 22nd. Zacks Investment Research upgraded Arch Capital Group from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Thursday, January 3rd. Finally, JMP Securities reiterated a “hold” rating on shares of Arch Capital Group in a research note on Sunday, February 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $30.67.
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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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