Mirae Asset Global Investments Co. Ltd. Lowers Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Mirae Asset Global Investments Co. Ltd. reduced its position in Arch Capital Group Ltd. (NASDAQ:ACGLGet Rating) by 22.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 22,132 shares of the insurance provider’s stock after selling 6,399 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Arch Capital Group were worth $1,071,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Riverview Trust Co purchased a new stake in Arch Capital Group in the 1st quarter worth approximately $27,000. CWM LLC boosted its holdings in shares of Arch Capital Group by 52.8% in the 1st quarter. CWM LLC now owns 1,158 shares of the insurance provider’s stock valued at $56,000 after purchasing an additional 400 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Arch Capital Group by 159.0% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,225 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 752 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Arch Capital Group in the 4th quarter valued at $110,000. Finally, Checchi Capital Advisers LLC acquired a new position in shares of Arch Capital Group in the 1st quarter valued at $201,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ACGL. Barclays decreased their price target on shares of Arch Capital Group from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Thursday, July 14th. StockNews.com lowered shares of Arch Capital Group from a “buy” rating to a “hold” rating in a report on Monday, August 22nd. Finally, Morgan Stanley reduced their target price on shares of Arch Capital Group from $53.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, May 23rd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $53.38.

Insiders Place Their Bets

In other Arch Capital Group news, CEO Maamoun Rajeh sold 12,237 shares of the business’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $47.06, for a total value of $575,873.22. Following the transaction, the chief executive officer now owns 412,990 shares in the company, valued at approximately $19,435,309.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Francois Morin sold 16,885 shares of the business’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $46.92, for a total value of $792,244.20. Following the completion of the sale, the chief financial officer now owns 193,259 shares of the company’s stock, valued at approximately $9,067,712.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Maamoun Rajeh sold 12,237 shares of the business’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $47.06, for a total transaction of $575,873.22. Following the completion of the sale, the chief executive officer now directly owns 412,990 shares of the company’s stock, valued at approximately $19,435,309.40. The disclosure for this sale can be found here. Insiders have sold 52,783 shares of company stock worth $2,458,993 in the last quarter. 4.20% of the stock is owned by corporate insiders.

Arch Capital Group Stock Performance

NASDAQ:ACGL opened at $46.50 on Friday. Arch Capital Group Ltd. has a twelve month low of $37.44 and a twelve month high of $50.73. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $17.16 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 1.01 and a beta of 0.75. The firm’s fifty day simple moving average is $44.83 and its 200 day simple moving average is $46.05.

Arch Capital Group (NASDAQ:ACGLGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The insurance provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.25. Arch Capital Group had a net margin of 19.06% and a return on equity of 14.45%. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the previous year, the business posted $1.00 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts expect that Arch Capital Group Ltd. will post 4.64 earnings per share for the current fiscal year.

Arch Capital Group Profile

(Get Rating)

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; 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.

See Also

Want to see what other hedge funds are holding ACGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arch Capital Group Ltd. (NASDAQ:ACGLGet Rating).



Receive News & Ratings for Arch Capital Group Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Arch Capital Group and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a Reply

Your email address will not be published.