Amalgamated Bank Reduces Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Amalgamated Bank trimmed its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 8.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 104,286 shares of the insurance provider’s stock after selling 9,744 shares during the period. Amalgamated Bank’s holdings in Arch Capital Group were worth $7,745,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ACGL. Northern Trust Corp grew its position in Arch Capital Group by 9.2% in the 3rd quarter. Northern Trust Corp now owns 4,652,983 shares of the insurance provider’s stock worth $370,889,000 after purchasing an additional 390,362 shares during the period. Invesco Ltd. grew its holdings in shares of Arch Capital Group by 16.3% in the third quarter. Invesco Ltd. now owns 3,385,665 shares of the insurance provider’s stock worth $269,871,000 after acquiring an additional 475,464 shares during the period. Royal Bank of Canada increased its position in Arch Capital Group by 3.4% during the third quarter. Royal Bank of Canada now owns 3,151,688 shares of the insurance provider’s stock valued at $251,222,000 after acquiring an additional 104,299 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Arch Capital Group by 112.4% in the third quarter. Envestnet Asset Management Inc. now owns 2,620,807 shares of the insurance provider’s stock valued at $208,905,000 after acquiring an additional 1,387,072 shares during the period. Finally, Barclays PLC boosted its position in Arch Capital Group by 18.8% in the third quarter. Barclays PLC now owns 2,240,381 shares of the insurance provider’s stock worth $178,581,000 after purchasing an additional 354,482 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, insider Nicolas Papadopoulo sold 60,000 shares of Arch Capital Group stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $87.52, for a total value of $5,251,200.00. Following the sale, the insider now directly owns 651,931 shares in the company, valued at approximately $57,057,001.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Arch Capital Group news, insider Nicolas Papadopoulo sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $87.52, for a total transaction of $5,251,200.00. Following the completion of the transaction, the insider now owns 651,931 shares in the company, valued at approximately $57,057,001.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Maamoun Rajeh sold 50,000 shares of Arch Capital Group stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $87.48, for a total value of $4,374,000.00. Following the completion of the sale, the chief executive officer now directly owns 336,170 shares in the company, valued at approximately $29,408,151.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 135,689 shares of company stock valued at $11,872,217. Corporate insiders own 4.20% of the company’s stock.

Arch Capital Group Stock Performance

NASDAQ ACGL opened at $94.41 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 0.17. Arch Capital Group Ltd. has a twelve month low of $69.05 and a twelve month high of $96.58. The business has a 50-day moving average price of $91.15 and a 200-day moving average price of $84.77. The firm has a market cap of $35.42 billion, a price-to-earnings ratio of 7.45, a price-to-earnings-growth ratio of 1.12 and a beta of 0.57.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.39. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.77 billion. Arch Capital Group had a return on equity of 21.85% and a net margin of 33.65%. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.73 EPS. As a group, equities research analysts predict that Arch Capital Group Ltd. will post 8.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ACGL shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Arch Capital Group from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Wells Fargo & Company upped their target price on shares of Arch Capital Group from $109.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday. Evercore ISI lifted their price target on shares of Arch Capital Group from $98.00 to $100.00 and gave the stock an “in-line” rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. boosted their price objective on shares of Arch Capital Group from $88.00 to $92.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $110.00 target price on shares of Arch Capital Group in a report on Tuesday, April 30th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $100.67.

About Arch Capital Group

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.