Tokio Marine Asset Management Co. Ltd. lowered its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 19.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,517 shares of the insurance provider’s stock after selling 622 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Arch Capital Group were worth $239,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC purchased a new stake in Arch Capital Group during the fourth quarter worth about $103,000. Toronto Dominion Bank boosted its stake in Arch Capital Group by 26.5% in the first quarter. Toronto Dominion Bank now owns 1,343 shares of the insurance provider’s stock worth $127,000 after buying an additional 281 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in Arch Capital Group by 57.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,273 shares of the insurance provider’s stock worth $196,000 after buying an additional 830 shares during the period. Capital One National Association purchased a new stake in Arch Capital Group during the first quarter worth about $214,000. Finally, Profund Advisors LLC purchased a new stake in Arch Capital Group during the first quarter worth about $232,000. Institutional investors own 77.05% of the company’s stock.
Arch Capital Group Ltd. (NASDAQ:ACGL) traded down 0.50% on Friday, reaching $94.78. 234,839 shares of the company traded hands. The stock has a 50-day moving average price of $95.44 and a 200-day moving average price of $90.00. The firm has a market cap of $12.70 billion, a P/E ratio of 16.06 and a beta of 0.60. Arch Capital Group Ltd. has a 52-week low of $67.50 and a 52-week high of $99.11.
Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Tuesday, April 25th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.09. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.19 billion. Arch Capital Group had a net margin of 15.60% and a return on equity of 8.23%. During the same quarter in the previous year, the firm posted $1.20 EPS. Analysts anticipate that Arch Capital Group Ltd. will post $5.54 earnings per share for the current fiscal year.
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ACGL has been the subject of a number of recent analyst reports. Credit Suisse Group AG restated a “buy” rating and set a $98.00 price target on shares of Arch Capital Group in a report on Wednesday, February 15th. Morgan Stanley increased their target price on shares of Arch Capital Group from $90.00 to $96.00 and gave the company an “equal weight” rating in a research note on Friday, April 28th. Wells Fargo & Co reiterated a “hold” rating on shares of Arch Capital Group in a research note on Wednesday, April 26th. Keefe, Bruyette & Woods set a $95.00 target price on shares of Arch Capital Group and gave the company a “hold” rating in a research note on Thursday, April 6th. Finally, Deutsche Bank AG increased their target price on shares of Arch Capital Group from $78.00 to $87.00 and gave the company a “hold” rating in a research note on Thursday, March 30th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Arch Capital Group currently has a consensus rating of “Hold” and a consensus price target of $91.50.
In other Arch Capital Group news, COO Marc Grandisson sold 23,446 shares of the business’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $94.54, for a total value of $2,216,584.84. Following the completion of the sale, the chief operating officer now owns 585,562 shares of the company’s stock, valued at approximately $55,359,031.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicolas Papadopoulo sold 20,000 shares of the business’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $95.39, for a total transaction of $1,907,800.00. Following the completion of the sale, the chief executive officer now directly owns 244,912 shares of the company’s stock, valued at approximately $23,362,155.68. The disclosure for this sale can be found here. Insiders sold a total of 95,525 shares of company stock valued at $9,103,441 in the last three months. Insiders own 6.30% of the company’s stock.
About Arch Capital Group
Arch Capital Group Ltd. provides insurance, reinsurance and mortgage insurance. The Company provides a range of property, casualty and mortgage insurance and reinsurance lines. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. 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.
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