JPMorgan Chase & Co. boosted its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 191,927 shares of the company’s stock after buying an additional 2,260 shares during the period. JPMorgan Chase & Co. owned 0.16% of Arch Capital Group worth $13,818,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. William Blair Investment Management LLC boosted its position in Arch Capital Group by 16.4% in the second quarter. William Blair Investment Management LLC now owns 12,837 shares of the company’s stock worth $924,000 after buying an additional 1,810 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Arch Capital Group by 34.3% in the second quarter. PNC Financial Services Group Inc. now owns 3,507 shares of the company’s stock worth $252,000 after buying an additional 896 shares during the last quarter. Aviva PLC boosted its position in Arch Capital Group by 17.2% in the second quarter. Aviva PLC now owns 67,635 shares of the company’s stock worth $4,870,000 after buying an additional 9,918 shares during the last quarter. Princeton Alpha Management LP bought a new position in Arch Capital Group during the second quarter worth $390,000. Finally, Mn Services Vermogensbeheer B.V. boosted its position in Arch Capital Group by 2.7% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 3,115 shares of the company’s stock worth $202,000 after buying an additional 81 shares during the last quarter. 77.47% of the stock is currently owned by institutional investors and hedge funds.
Arch Capital Group Ltd. (NASDAQ:ACGL) traded down 0.65% during mid-day trading on Friday, reaching $79.26. The company’s stock had a trading volume of 487,325 shares. The company has a market cap of $9.56 billion, a PE ratio of 20.49 and a beta of 0.57. Arch Capital Group Ltd. has a 12-month low of $59.83 and a 12-month high of $85.16. The firm’s 50 day moving average is $80.26 and its 200-day moving average is $73.32.
Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Wednesday, July 27th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the business earned $1.16 EPS. Equities analysts anticipate that Arch Capital Group Ltd. will post $4.32 earnings per share for the current fiscal year.
ACGL has been the topic of a number of analyst reports. Barclays PLC cut Arch Capital Group from an “overweight” rating to an “equal weight” rating and set a $85.00 price objective on the stock. in a research report on Thursday, September 15th. Keefe, Bruyette & Woods lifted their price objective on Arch Capital Group from $76.00 to $78.00 and gave the company a “market perform” rating in a research report on Friday, August 5th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Arch Capital Group in a research report on Wednesday, June 15th. MKM Partners lifted their price objective on Arch Capital Group from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, August 30th. Finally, 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $80.69.
In other Arch Capital Group news, CFO Mark Donald Lyons sold 4,812 shares of the stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $80.34, for a total transaction of $386,596.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David Mcelroy sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $79.27, for a total value of $1,981,750.00. The disclosure for this sale can be found here. 6.30% of the stock is owned by insiders.
Arch Capital Group Company Profile
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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