10,603 Shares in Arch Capital Group Ltd. $ACGL Purchased by Convergence Investment Partners LLC

Convergence Investment Partners LLC acquired a new stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 10,603 shares of the insurance provider’s stock, valued at approximately $962,000.

A number of other institutional investors also recently modified their holdings of ACGL. Norges Bank acquired a new stake in Arch Capital Group during the 2nd quarter valued at $441,551,000. Cooke & Bieler LP bought a new stake in shares of Arch Capital Group during the third quarter worth $210,856,000. Ameriprise Financial Inc. grew its holdings in shares of Arch Capital Group by 289.1% during the second quarter. Ameriprise Financial Inc. now owns 1,368,648 shares of the insurance provider’s stock worth $124,615,000 after purchasing an additional 1,016,919 shares during the last quarter. Champlain Investment Partners LLC lifted its position in shares of Arch Capital Group by 109.3% during the second quarter. Champlain Investment Partners LLC now owns 1,045,262 shares of the insurance provider’s stock worth $95,171,000 after purchasing an additional 545,777 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in Arch Capital Group by 99.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,029,515 shares of the insurance provider’s stock worth $93,408,000 after purchasing an additional 512,879 shares during the period. Institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Roth Mkm set a $110.00 price target on Arch Capital Group and gave the company a “buy” rating in a research note on Tuesday, December 2nd. Mizuho set a $95.00 price objective on shares of Arch Capital Group and gave the company a “neutral” rating in a report on Monday, December 15th. Morgan Stanley set a $125.00 target price on shares of Arch Capital Group in a research note on Friday, January 16th. JPMorgan Chase & Co. lifted their price objective on Arch Capital Group from $111.00 to $117.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $97.00 price objective (up from $93.00) on shares of Arch Capital Group in a report on Wednesday, January 14th. Eight research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Arch Capital Group currently has a consensus rating of “Hold” and a consensus price target of $107.53.

Arch Capital Group Trading Up 0.7%

Shares of NASDAQ:ACGL opened at $96.71 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market capitalization of $35.07 billion, a P/E ratio of 9.05, a price-to-earnings-growth ratio of 2.02 and a beta of 0.45. Arch Capital Group Ltd. has a 52-week low of $82.44 and a 52-week high of $97.60. The company has a 50-day simple moving average of $94.05 and a 200 day simple moving average of $91.24.

Insider Transactions at Arch Capital Group

In other news, CFO Francois Morin sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $94.62, for a total transaction of $756,960.00. Following the completion of the sale, the chief financial officer owned 266,681 shares in the company, valued at $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 is available at this hyperlink. Also, insider John M. Pasquesi sold 203,866 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $93.90, for a total value of $19,143,017.40. Following the completion of the transaction, the insider directly owned 351,356 shares in the company, valued at $32,992,328.40. The trade was a 36.72% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 220,666 shares of company stock worth $20,728,673. 4.20% of the stock is owned by company insiders.

Arch Capital Group Profile

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.