Channing Global Advisors LLC Sells 9,072 Shares of Arch Capital Group Ltd. $ACGL

Channing Global Advisors LLC lowered its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 94.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 530 shares of the insurance provider’s stock after selling 9,072 shares during the period. Channing Global Advisors LLC’s holdings in Arch Capital Group were worth $51,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Legal & General Group Plc raised its position in shares of Arch Capital Group by 4.3% in the fourth quarter. Legal & General Group Plc now owns 2,944,169 shares of the insurance provider’s stock valued at $282,405,000 after purchasing an additional 121,090 shares during the period. National Pension Service boosted its holdings in shares of Arch Capital Group by 8.5% during the 4th quarter. National Pension Service now owns 683,272 shares of the insurance provider’s stock worth $65,539,000 after buying an additional 53,661 shares during the period. Asset Management One Co. Ltd. grew its stake in Arch Capital Group by 10.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 187,002 shares of the insurance provider’s stock valued at $18,024,000 after buying an additional 17,923 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Arch Capital Group by 50.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,548,042 shares of the insurance provider’s stock valued at $148,488,000 after buying an additional 518,527 shares during the last quarter. Finally, Marshfield Associates raised its holdings in Arch Capital Group by 5.5% in the 3rd quarter. Marshfield Associates now owns 2,724,635 shares of the insurance provider’s stock worth $247,206,000 after acquiring an additional 141,223 shares during the period. Institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling

In related news, Director Brian S. Posner sold 3,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total value of $58,980.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel Joseph Houston bought 5,300 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was purchased at an average price of $94.08 per share, with a total value of $498,624.00. Following the completion of the purchase, the director directly owned 9,915 shares of the company’s stock, valued at $932,803.20. This represents a 114.84% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings lowered shares of Arch Capital Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Citigroup raised their price target on Arch Capital Group from $120.00 to $122.50 and gave the company a “buy” rating in a research report on Thursday, April 30th. UBS Group reissued a “buy” rating and set a $120.00 price objective (up from $114.00) on shares of Arch Capital Group in a research report on Wednesday. Morgan Stanley increased their target price on Arch Capital Group from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Mizuho lifted their price target on Arch Capital Group from $101.00 to $104.00 and gave the stock a “neutral” rating in a research report on Thursday. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $108.12.

Arch Capital Group Stock Down 0.3%

Shares of ACGL opened at $101.70 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.55 and a current ratio of 0.55. The company has a 50-day simple moving average of $94.27 and a 200-day simple moving average of $95.45. Arch Capital Group Ltd. has a 52 week low of $82.44 and a 52 week high of $105.09. The firm has a market capitalization of $35.53 billion, a P/E ratio of 7.81, a P/E/G ratio of 5.12 and a beta of 0.31.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share for the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%.The business had revenue of $4.52 billion for the quarter. On average, equities research analysts expect that Arch Capital Group Ltd. will post 9.27 earnings per share for the current year.

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.