Lord Abbett & CO. LLC Cuts Stake in Arch Capital Group Ltd. (ACGL)

Share on StockTwits

Lord Abbett & CO. LLC lowered its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 5.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 382,900 shares of the insurance provider’s stock after selling 22,800 shares during the period. Lord Abbett & CO. LLC’s holdings in Arch Capital Group were worth $10,231,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in shares of Arch Capital Group by 191.9% during the second quarter. Bank of New York Mellon Corp now owns 1,610,368 shares of the insurance provider’s stock valued at $42,611,000 after buying an additional 1,058,679 shares during the period. Sumitomo Life Insurance Co. increased its stake in shares of Arch Capital Group by 2.5% during the fourth quarter. Sumitomo Life Insurance Co. now owns 42,282 shares of the insurance provider’s stock valued at $1,130,000 after buying an additional 1,036 shares during the period. Prudential Financial Inc. increased its stake in shares of Arch Capital Group by 10.1% during the third quarter. Prudential Financial Inc. now owns 19,680 shares of the insurance provider’s stock valued at $587,000 after buying an additional 1,800 shares during the period. Vanguard Group Inc increased its stake in shares of Arch Capital Group by 0.4% during the third quarter. Vanguard Group Inc now owns 33,874,589 shares of the insurance provider’s stock valued at $1,009,802,000 after buying an additional 144,152 shares during the period. Finally, Schroder Investment Management Group increased its stake in shares of Arch Capital Group by 488.9% during the third quarter. Schroder Investment Management Group now owns 43,297 shares of the insurance provider’s stock valued at $1,291,000 after buying an additional 35,945 shares during the period. Hedge funds and other institutional investors own 79.86% of the company’s stock.

Shares of ACGL stock opened at $32.36 on Wednesday. Arch Capital Group Ltd. has a 1-year low of $24.79 and a 1-year high of $33.05. The stock has a market cap of $13.22 billion, a P/E ratio of 14.71, a P/E/G ratio of 1.17 and a beta of 0.70. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.51 and a current ratio of 0.51.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Tuesday, February 12th. The insurance provider reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.08. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.38 billion. Arch Capital Group had a return on equity of 10.09% and a net margin of 13.91%. During the same quarter last year, the company earned $1.34 earnings per share. On average, equities analysts anticipate that Arch Capital Group Ltd. will post 2.55 earnings per share for the current fiscal year.

Several equities analysts have recently commented on the company. ValuEngine upgraded Arch Capital Group from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. BidaskClub downgraded Arch Capital Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 13th. JMP Securities reaffirmed a “hold” rating on shares of Arch Capital Group in a research report on Sunday, February 17th. Zacks Investment Research raised Arch Capital Group from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Thursday, February 14th. Finally, Barclays raised Arch Capital Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $29.00 to $32.00 in a research report on Wednesday, January 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $30.67.

In related news, CFO Francois Morin sold 2,648 shares of Arch Capital Group stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $32.14, for a total transaction of $85,106.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP W Preston Hutchings sold 2,500 shares of Arch Capital Group stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $32.40, for a total value of $81,000.00. Following the transaction, the senior vice president now owns 62,216 shares of the company’s stock, valued at $2,015,798.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,648 shares of company stock valued at $1,451,332. Company insiders own 5.10% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Lord Abbett & CO. LLC Cuts Stake in Arch Capital Group Ltd. (ACGL)” was first published by Ticker Report and is the sole property of of Ticker Report. If you are viewing this article on another website, it was illegally copied and reposted in violation of US & international copyright and trademark law. The original version of this article can be accessed at https://www.tickerreport.com/banking-finance/4235687/lord-abbett-co-llc-cuts-stake-in-arch-capital-group-ltd-acgl.html.

About Arch Capital Group

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.

Recommended Story: How to Track your Portfolio in Google Finance

Want to see what other hedge funds are holding ACGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arch Capital Group Ltd. (NASDAQ:ACGL).

Institutional Ownership by Quarter for Arch Capital Group (NASDAQ:ACGL)

Receive News & Ratings for Arch Capital Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arch Capital Group and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Freyrchain  Price Reaches $0.0009 on Top Exchanges
Freyrchain Price Reaches $0.0009 on Top Exchanges
CDK Global Inc  Announces Quarterly Dividend of $0.15
CDK Global Inc Announces Quarterly Dividend of $0.15
Exosis  Price Reaches $0.75 on Top Exchanges
Exosis Price Reaches $0.75 on Top Exchanges
Spok Holdings Inc  Announces $0.13 Quarterly Dividend
Spok Holdings Inc Announces $0.13 Quarterly Dividend
Berenberg Bank Reiterates Sell Rating for Acacia Mining
Berenberg Bank Reiterates Sell Rating for Acacia Mining
Yield Shares High Income ETF Declares Monthly Dividend of $0.13
Yield Shares High Income ETF Declares Monthly Dividend of $0.13


© 2006-2019 Ticker Report