HighTower Advisors LLC lowered its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.1% during the first quarter, Holdings Channel reports. The fund owned 8,855 shares of the insurance provider’s stock after selling 98 shares during the period. HighTower Advisors LLC’s holdings in Arch Capital Group were worth $839,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Arch Capital Group by 3,410.5% in the first quarter. BlackRock Inc. now owns 8,769,351 shares of the insurance provider’s stock worth $831,073,000 after buying an additional 8,519,546 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Arch Capital Group by 802.5% in the first quarter. JPMorgan Chase & Co. now owns 850,833 shares of the insurance provider’s stock valued at $80,633,000 after buying an additional 756,556 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Arch Capital Group by 4.6% in the first quarter. Vanguard Group Inc. now owns 9,588,852 shares of the insurance provider’s stock valued at $908,736,000 after buying an additional 418,229 shares in the last quarter. Karp Capital Management Corp bought a new stake in shares of Arch Capital Group during the first quarter valued at about $23,790,000. Finally, Scout Investments Inc. boosted its stake in shares of Arch Capital Group by 75.8% in the first quarter. Scout Investments Inc. now owns 521,258 shares of the insurance provider’s stock valued at $37,061,000 after buying an additional 224,761 shares in the last quarter. Hedge funds and other institutional investors own 73.47% of the company’s stock.
Shares of Arch Capital Group Ltd. (NASDAQ ACGL) opened at 95.23 on Monday. The company has a market capitalization of $12.76 billion, a P/E ratio of 16.14 and a beta of 0.66. The stock has a 50 day moving average of $94.93 and a 200-day moving average of $92.76. Arch Capital Group Ltd. has a 12-month low of $68.85 and a 12-month high of $99.21.
Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Tuesday, April 25th. The insurance provider reported $1.42 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.09. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Arch Capital Group had a net margin of 16.92% and a return on equity of 8.85%. During the same period in the prior year, the business earned $1.20 earnings per share. Equities research analysts forecast that Arch Capital Group Ltd. will post $5.40 EPS for the current year.
Several equities research analysts recently issued reports on ACGL shares. Deutsche Bank AG raised their target price on shares of Arch Capital Group from $78.00 to $87.00 and gave the stock a “hold” rating in a report on Thursday, March 30th. Keefe, Bruyette & Woods set a $95.00 price target on shares of Arch Capital Group and gave the stock a “hold” rating in a research note on Thursday, April 6th. Wells Fargo & Company reiterated a “hold” rating on shares of Arch Capital Group in a research note on Wednesday, April 26th. Morgan Stanley lifted their price target on shares of Arch Capital Group from $90.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Friday, April 28th. Finally, BidaskClub cut shares of Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $91.50.
In related news, CEO Constantine Iordanou sold 62,832 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $95.02, for a total transaction of $5,970,296.64. Following the completion of the sale, the chief executive officer now directly owns 108,851 shares in the company, valued at $10,343,022.02. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John D. Vollaro sold 2,911 shares of the firm’s stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $97.26, for a total transaction of $283,123.86. Following the sale, the director now owns 37,650 shares of the company’s stock, valued at $3,661,839. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 166,700 shares of company stock valued at $15,923,004. 6.60% of the stock is owned by company insiders.
About Arch Capital Group
Arch Capital Group Ltd. provides insurance, reinsurance and mortgage insurance. The Company provides a range of property, casualty and mortgage insurance and reinsurance lines. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The insurance segment’s product lines include construction and national accounts; excess and surplus casualty; lenders products; professional lines; programs; property, energy, marine and aviation; travel, accident and health, and other.
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