Huntington National Bank continued to hold its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) during the second quarter, Holdings Channel reports. The fund owned 1,780 shares of the company’s stock at the end of the second quarter. Huntington National Bank’s holdings in Arch Capital Group were worth $110,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Prudential Financial Inc. boosted its stake in Arch Capital Group by 44.1% in the first quarter. Prudential Financial Inc. now owns 10,551 shares of the company’s stock worth $750,000 after buying an additional 3,231 shares during the last quarter. BlackRock Inc. boosted its stake in Arch Capital Group by 8.2% in the first quarter. BlackRock Inc. now owns 169,975 shares of the company’s stock worth $12,086,000 after buying an additional 12,943 shares during the last quarter. BlackRock Group LTD boosted its stake in Arch Capital Group by 1.2% in the first quarter. BlackRock Group LTD now owns 1,034,578 shares of the company’s stock worth $73,558,000 after buying an additional 12,336 shares during the last quarter. BlackRock Fund Advisors boosted its stake in Arch Capital Group by 19.2% in the first quarter. BlackRock Fund Advisors now owns 2,827,534 shares of the company’s stock worth $201,038,000 after buying an additional 456,111 shares during the last quarter. Finally, BlackRock Japan Co. Ltd boosted its stake in Arch Capital Group by 0.6% in the first quarter. BlackRock Japan Co. Ltd now owns 153,163 shares of the company’s stock worth $10,890,000 after buying an additional 902 shares during the last quarter. 77.47% of the stock is owned by hedge funds and other institutional investors.
Arch Capital Group Ltd. (NASDAQ:ACGL) traded up 2.83% during trading on Friday, hitting $79.22. The stock had a trading volume of 572,915 shares. Arch Capital Group Ltd. has a 12-month low of $59.83 and a 12-month high of $85.16. The company has a market capitalization of $9.55 billion, a price-to-earnings ratio of 20.48 and a beta of 0.57. The stock has a 50 day moving average price of $80.26 and a 200 day moving average price of $73.61.
Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Wednesday, July 27th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.17. Arch Capital Group had a return on equity of 8.32% and a net margin of 12.27%. During the same quarter in the previous year, the firm posted $1.16 earnings per share. Equities research analysts forecast that Arch Capital Group Ltd. will post $4.36 earnings per share for the current year.
A number of analysts recently issued reports on ACGL shares. Wells Fargo & Co. reissued a “hold” rating on shares of Arch Capital Group in a research report on Wednesday, June 15th. Keefe, Bruyette & Woods lifted their price objective on Arch Capital Group from $74.00 to $76.00 and gave the company a “market perform” rating in a research report on Monday, July 11th. Zacks Investment Research cut Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Monday, July 18th. Deutsche Bank AG lifted their price objective on Arch Capital Group from $72.00 to $74.00 and gave the company a “hold” rating in a research report on Friday, July 29th. Finally, Royal Bank Of Canada boosted their price target on Arch Capital Group from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $80.69.
In other Arch Capital Group news, CFO Mark Donald Lyons sold 4,812 shares of the stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $80.34, for a total transaction of $386,596.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Constantine Iordanou sold 50,000 shares of the stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $79.50, for a total value of $3,975,000.00. Following the transaction, the chief executive officer now owns 243,030 shares of the company’s stock, valued at approximately $19,320,885. The disclosure for this sale can be found here. Company insiders own 6.30% of the company’s stock.
About Arch Capital Group
Arch Capital Group Ltd. writes insurance and reinsurance on worldwide basis. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The Company’s insurance, reinsurance and mortgage segments are underwriting segments. 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, which includes alternative market risks and excess workers’ compensation.
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