PEAK6 Investments LLC purchased a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 47,676 shares of the insurance provider’s stock, valued at approximately $1,421,000.
Other large investors also recently added to or reduced their stakes in the company. Captrust Financial Advisors boosted its position in shares of Arch Capital Group by 2,284.8% in the 2nd quarter. Captrust Financial Advisors now owns 4,078 shares of the insurance provider’s stock valued at $108,000 after purchasing an additional 3,907 shares during the period. Hall Laurie J Trustee boosted its position in shares of Arch Capital Group by 200.0% in the 2nd quarter. Hall Laurie J Trustee now owns 4,989 shares of the insurance provider’s stock valued at $132,000 after purchasing an additional 3,326 shares during the period. D Orazio & Associates Inc. boosted its position in shares of Arch Capital Group by 200.0% in the 2nd quarter. D Orazio & Associates Inc. now owns 5,400 shares of the insurance provider’s stock valued at $143,000 after purchasing an additional 3,600 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in shares of Arch Capital Group by 226.1% in the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 5,880 shares of the insurance provider’s stock valued at $156,000 after purchasing an additional 4,077 shares during the period. Finally, Cerebellum GP LLC acquired a new position in shares of Arch Capital Group in the 3rd quarter valued at $156,000. Institutional investors and hedge funds own 80.36% of the company’s stock.
In other news, SVP W Preston Hutchings sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $30.00, for a total transaction of $450,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yiorgos Lillikas sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $28.49, for a total value of $56,980.00. The disclosure for this sale can be found here. Insiders have sold a total of 47,666 shares of company stock valued at $1,410,330 over the last ninety days. Company insiders own 5.10% of the company’s stock.
Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, October 30th. The insurance provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.07. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.19 billion. Arch Capital Group had a return on equity of 10.30% and a net margin of 15.15%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.13) EPS. On average, research analysts forecast that Arch Capital Group Ltd. will post 2.22 earnings per share for the current year.
ACGL has been the subject of a number of recent analyst reports. BidaskClub lowered Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Thursday, September 13th. Wells Fargo & Co reissued a “hold” rating and issued a $30.00 price objective on shares of Arch Capital Group in a research note on Wednesday, October 31st. Zacks Investment Research downgraded Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. Bank of America increased their price objective on Arch Capital Group from $28.00 to $30.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 1st. Finally, Morgan Stanley set a $22.00 price objective on Arch Capital Group and gave the stock a “hold” rating in a research note on Wednesday, November 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $26.54.
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Arch Capital Group Profile
Arch Capital Group Ltd., together with its subsidiaries, provides property, casualty, and mortgage insurance and reinsurance 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.
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