Pendal Group Ltd Buys Shares of 8,365 Arch Capital Group Ltd. (NASDAQ:ACGL)

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Pendal Group Ltd bought a new stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 8,365 shares of the insurance provider’s stock, valued at approximately $310,000.

Other institutional investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its stake in Arch Capital Group by 200.0% during the 1st quarter. Quadrant Capital Group LLC now owns 948 shares of the insurance provider’s stock valued at $29,000 after buying an additional 632 shares during the period. Optimum Investment Advisors boosted its position in shares of Arch Capital Group by 333.3% during the 1st quarter. Optimum Investment Advisors now owns 1,300 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 1,000 shares in the last quarter. Wakefield Asset Management LLLP bought a new position in shares of Arch Capital Group during the 1st quarter valued at about $152,000. ETF Managers Group LLC boosted its position in shares of Arch Capital Group by 9.9% during the 1st quarter. ETF Managers Group LLC now owns 5,017 shares of the insurance provider’s stock valued at $162,000 after purchasing an additional 451 shares in the last quarter. Finally, Raymond James Trust N.A. bought a new position in shares of Arch Capital Group during the 1st quarter valued at about $233,000. 79.93% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ACGL opened at $39.75 on Friday. Arch Capital Group Ltd. has a one year low of $24.79 and a one year high of $40.07. The company has a 50-day moving average of $38.32 and a two-hundred day moving average of $34.46. The stock has a market cap of $16.10 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 1.36 and a beta of 0.65. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.54 and a quick ratio of 0.54.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Monday, July 29th. The insurance provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.69 by $0.08. Arch Capital Group had a net margin of 20.48% and a return on equity of 10.58%. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period last year, the company posted $0.59 earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. Analysts anticipate that Arch Capital Group Ltd. will post 2.82 earnings per share for the current year.

Several research firms have recently weighed in on ACGL. Barclays set a $47.00 price objective on shares of Arch Capital Group and gave the company a “buy” rating in a research report on Monday, August 12th. ValuEngine lowered shares of Arch Capital Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. BidaskClub upgraded shares of Arch Capital Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Wells Fargo & Co restated a “hold” rating and set a $32.00 price objective on shares of Arch Capital Group in a research report on Tuesday, April 30th. Finally, MKM Partners raised their price objective on shares of Arch Capital Group from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $37.91.

In other news, CFO Francois Morin sold 8,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $39.42, for a total value of $315,360.00. Following the completion of the sale, the chief financial officer now directly owns 37,815 shares of the company’s stock, valued at $1,490,667.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman John M. Pasquesi sold 299,741 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $33.99, for a total transaction of $10,188,196.59. Following the completion of the sale, the insider now directly owns 2,832 shares of the company’s stock, valued at $96,259.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 332,741 shares of company stock valued at $11,490,307. Corporate insiders own 5.20% of the company’s stock.

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.

Further Reading: Gross Domestic Product (GDP)

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

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