7,974 Shares in Arch Capital Group Ltd. $ACGL Bought by Summit Global Investments

Summit Global Investments acquired a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,974 shares of the insurance provider’s stock, valued at approximately $723,000.

Several other large investors also recently modified their holdings of the business. Quent Capital LLC acquired a new stake in Arch Capital Group during the 3rd quarter valued at approximately $37,000. Richardson Financial Services Inc. boosted its stake in shares of Arch Capital Group by 63.3% during the 3rd quarter. Richardson Financial Services Inc. now owns 418 shares of the insurance provider’s stock valued at $38,000 after buying an additional 162 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Arch Capital Group by 3,450.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the insurance provider’s stock worth $39,000 after buying an additional 414 shares in the last quarter. TD Waterhouse Canada Inc. increased its stake in shares of Arch Capital Group by 31.4% in the second quarter. TD Waterhouse Canada Inc. now owns 469 shares of the insurance provider’s stock worth $43,000 after buying an additional 112 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new stake in Arch Capital Group in the third quarter valued at $54,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ACGL shares. The Goldman Sachs Group reissued a “sell” rating and set a $93.00 price objective (up from $84.00) on shares of Arch Capital Group in a report on Wednesday, January 7th. Royal Bank Of Canada set a $108.00 price target on shares of Arch Capital Group and gave the stock an “outperform” rating in a research report on Monday, November 24th. Evercore ISI set a $100.00 price objective on Arch Capital Group and gave the company an “in-line” rating in a report on Wednesday, January 7th. Keefe, Bruyette & Woods increased their target price on Arch Capital Group from $100.00 to $102.00 and gave the stock a “market perform” rating in a report on Tuesday, January 6th. Finally, Mizuho set a $95.00 target price on Arch Capital Group and gave the stock a “neutral” rating in a research report on Monday, December 15th. Eight research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $107.53.

Arch Capital Group Trading Up 0.3%

NASDAQ:ACGL opened at $96.04 on Friday. The firm has a market capitalization of $34.83 billion, a P/E ratio of 8.98, a P/E/G ratio of 2.01 and a beta of 0.45. The business has a 50 day simple moving average of $93.95 and a 200 day simple moving average of $91.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.55 and a quick ratio of 0.55. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $97.60.

Insiders Place Their Bets

In other news, CFO Francois Morin sold 8,000 shares of the business’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $94.62, for a total transaction of $756,960.00. Following the completion of the transaction, the chief financial officer owned 266,681 shares of the company’s stock, valued at approximately $25,233,356.22. The trade was a 2.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John M. Pasquesi sold 8,800 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $94.17, for a total transaction of $828,696.00. Following the transaction, the insider owned 289,556 shares of the company’s stock, valued at $27,267,488.52. This represents a 2.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 220,666 shares of company stock worth $20,728,673 over the last quarter. 4.20% of the stock is currently owned by company insiders.

About Arch Capital Group

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.