Cambridge Investment Research Advisors Inc. Grows Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

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Cambridge Investment Research Advisors Inc. boosted its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 7.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 9,908 shares of the insurance provider’s stock after acquiring an additional 700 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Arch Capital Group were worth $367,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Nuveen Asset Management LLC purchased a new stake in shares of Arch Capital Group during the 2nd quarter valued at $77,500,000. AQR Capital Management LLC grew its stake in shares of Arch Capital Group by 228.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,422,119 shares of the insurance provider’s stock valued at $52,733,000 after buying an additional 989,669 shares during the period. APG Asset Management N.V. grew its stake in shares of Arch Capital Group by 135.2% during the 2nd quarter. APG Asset Management N.V. now owns 1,082,945 shares of the insurance provider’s stock valued at $35,261,000 after buying an additional 622,600 shares during the period. BlackRock Inc. grew its stake in shares of Arch Capital Group by 1.9% during the 2nd quarter. BlackRock Inc. now owns 29,413,307 shares of the insurance provider’s stock valued at $1,090,644,000 after buying an additional 535,702 shares during the period. Finally, Scout Investments Inc. grew its stake in shares of Arch Capital Group by 69.6% during the 2nd quarter. Scout Investments Inc. now owns 891,841 shares of the insurance provider’s stock valued at $33,069,000 after buying an additional 365,924 shares during the period. 79.67% of the stock is owned by hedge funds and other institutional investors.

In other Arch Capital Group news, CFO Francois Morin sold 8,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 37,815 shares in the company, valued at approximately $1,490,667.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc Grandisson sold 78,300 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $40.05, for a total transaction of $3,135,915.00. Following the completion of the transaction, the chief executive officer now owns 92,309 shares in the company, valued at approximately $3,696,975.45. The disclosure for this sale can be found here. Insiders have sold a total of 141,300 shares of company stock worth $5,619,725 in the last 90 days. Company insiders own 5.20% of the company’s stock.

NASDAQ:ACGL opened at $41.49 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $16.80 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 1.45 and a beta of 0.64. The firm’s fifty day simple moving average is $40.74 and its 200 day simple moving average is $36.86. Arch Capital Group Ltd. has a twelve month low of $24.79 and a twelve month high of $42.86.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Monday, July 29th. The insurance provider reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.08. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.24 billion. Arch Capital Group had a net margin of 20.48% and a return on equity of 10.58%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.59 EPS. On average, analysts predict that Arch Capital Group Ltd. will post 2.82 earnings per share for the current year.

Several brokerages have recently issued reports on ACGL. BidaskClub cut shares of Arch Capital Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday. ValuEngine cut shares of Arch Capital Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Buckingham Research boosted their price objective on shares of Arch Capital Group from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. MKM Partners set a $45.00 price objective on shares of Arch Capital Group and gave the company a “buy” rating in a research note on Wednesday. Finally, Deutsche Bank raised shares of Arch Capital Group from a “hold” rating to a “buy” rating and set a $35.35 price objective for the company in a research note on Wednesday, June 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $39.04.

Arch Capital Group Company Profile

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.

See Also: Price to Earnings Ratio (PE) Basics

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

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