Arch Capital Group Ltd. (NASDAQ:ACGL) Shares Sold by Los Angeles Capital Management LLC

by · The Markets Daily

Los Angeles Capital Management LLC cut its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL – Free Report) by 60.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 455,280 shares of the insurance provider’s stock after selling 684,701 shares during the period. Los Angeles Capital Management LLC owned approximately 0.12% of Arch Capital Group worth $50,937,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ACGL. UMB Bank n.a. acquired a new stake in Arch Capital Group in the 2nd quarter worth about $30,000. Baldwin Brothers LLC MA boosted its holdings in Arch Capital Group by 50.7% in the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock worth $31,000 after buying an additional 104 shares during the last quarter. Rothschild Investment LLC acquired a new stake in Arch Capital Group in the 2nd quarter worth about $35,000. LRI Investments LLC acquired a new stake in Arch Capital Group in the 1st quarter worth about $38,000. Finally, Versant Capital Management Inc boosted its holdings in Arch Capital Group by 40.3% in the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider’s stock worth $46,000 after buying an additional 131 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Arch Capital Group Stock Up 2.1 %

Shares of Arch Capital Group stock traded up $2.05 during trading hours on Friday, reaching $101.85. 1,887,176 shares of the company were exchanged, compared to its average volume of 2,145,058. Arch Capital Group Ltd. has a 1 year low of $72.85 and a 1 year high of $116.47. The stock’s fifty day moving average is $109.19 and its 200 day moving average is $103.01. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.60 and a current ratio of 0.58. The firm has a market cap of $38.30 billion, a PE ratio of 6.84, a PEG ratio of 1.47 and a beta of 0.61.

Arch Capital Group (NASDAQ:ACGL – Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.05. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the prior year, the company earned $2.31 earnings per share. As a group, equities research analysts forecast that Arch Capital Group Ltd. will post 9 earnings per share for the current year.

Arch Capital Group Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th will be given a dividend of $5.00 per share.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ACGL. Roth Mkm boosted their target price on Arch Capital Group from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Bank of America boosted their target price on Arch Capital Group from $119.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Barclays initiated coverage on shares of Arch Capital Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 price target on the stock. JMP Securities lifted their price target on shares of Arch Capital Group from $115.00 to $125.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 15th. Finally, StockNews.com lowered shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $118.88.

Read Our Latest Analysis on ACGL

Insider Transactions at Arch Capital Group

In related news, CFO Francois Morin sold 11,460 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the completion of the transaction, the chief financial officer now owns 221,779 shares in the company, valued at approximately $22,723,476.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 4.20% of the company’s stock.

Arch Capital Group Company Profile

(Free Report)

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; 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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