Suntrust Banks Inc. held its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,413 shares of the insurance provider’s stock at the end of the second quarter. Suntrust Banks Inc.’s holdings in Arch Capital Group were worth $411,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Swiss National Bank grew its position in Arch Capital Group by 8.0% during the second quarter. Swiss National Bank now owns 842,768 shares of the insurance provider’s stock worth $78,622,000 after buying an additional 62,700 shares in the last quarter. Delta Lloyd Asset Management N.V. purchased a new position in Arch Capital Group during the second quarter worth about $1,232,000. Marshall Wace North America L.P. grew its position in Arch Capital Group by 84.7% during the second quarter. Marshall Wace North America L.P. now owns 9,724 shares of the insurance provider’s stock worth $904,000 after buying an additional 4,459 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new position in Arch Capital Group during the second quarter worth about $2,230,000. Finally, Nomura Asset Management Co. Ltd. grew its position in Arch Capital Group by 33.5% during the first quarter. Nomura Asset Management Co. Ltd. now owns 75,053 shares of the insurance provider’s stock worth $7,113,000 after buying an additional 18,822 shares in the last quarter. Institutional investors and hedge funds own 76.91% of the company’s stock.
ACGL has been the subject of several research analyst reports. Buckingham Research initiated coverage on Arch Capital Group in a research note on Monday, September 11th. They set a “buy” rating and a $106.00 price target for the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $95.00 price target on shares of Arch Capital Group in a research note on Tuesday, July 4th. UBS AG dropped their price target on Arch Capital Group from $114.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, September 19th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Arch Capital Group in a research note on Wednesday, July 26th. Finally, Zacks Investment Research lowered Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $98.13.
In related news, CEO Nicolas Papadopoulo sold 38,918 shares of Arch Capital Group stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $97.23, for a total value of $3,783,997.14. Following the completion of the transaction, the chief executive officer now owns 182,035 shares in the company, valued at $17,699,263.05. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew Rippert sold 3,500 shares of Arch Capital Group stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $94.25, for a total value of $329,875.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 195,579 shares of company stock valued at $18,756,983. 6.60% of the stock is currently owned by company insiders.
Shares of Arch Capital Group Ltd. (NASDAQ:ACGL) opened at 98.55 on Friday. The firm’s 50-day moving average price is $97.54 and its 200 day moving average price is $96.15. Arch Capital Group Ltd. has a 52 week low of $76.47 and a 52 week high of $100.91. The company has a market cap of $13.25 billion, a price-to-earnings ratio of 17.92 and a beta of 0.66.
Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.01. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.28 billion. Arch Capital Group had a return on equity of 8.76% and a net margin of 15.65%. The firm’s revenue was up 22.0% on a year-over-year basis. During the same quarter last year, the business posted $1.13 earnings per share. On average, equities research analysts forecast that Arch Capital Group Ltd. will post $4.52 EPS for the current year.
Arch Capital Group Company Profile
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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