Arch Capital Group Ltd. (ACGL) Shares Sold by Scout Investments Inc.
Scout Investments Inc. decreased its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 40.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 137,743 shares of the insurance provider’s stock after selling 93,599 shares during the quarter. Scout Investments Inc. owned 100,881.06% of Arch Capital Group worth $13,568,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Acrospire Investment Management LLC purchased a new stake in Arch Capital Group in the second quarter valued at approximately $112,000. Vantage Investment Advisors LLC raised its position in Arch Capital Group by 1,372.9% in the second quarter. Vantage Investment Advisors LLC now owns 1,252 shares of the insurance provider’s stock valued at $117,000 after purchasing an additional 1,167 shares during the period. Parallel Advisors LLC raised its position in Arch Capital Group by 0.4% in the second quarter. Parallel Advisors LLC now owns 1,356 shares of the insurance provider’s stock valued at $132,000 after purchasing an additional 6 shares during the period. Toronto Dominion Bank raised its position in Arch Capital Group by 18.8% in the second quarter. Toronto Dominion Bank now owns 1,596 shares of the insurance provider’s stock valued at $149,000 after purchasing an additional 253 shares during the period. Finally, Crow Point Partners LLC purchased a new stake in Arch Capital Group in the second quarter valued at approximately $174,000. 73.19% of the stock is currently owned by institutional investors.
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Shares of Arch Capital Group Ltd. (NASDAQ:ACGL) opened at $95.35 on Friday. Arch Capital Group Ltd. has a 12-month low of $79.86 and a 12-month high of $102.60. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.77 and a current ratio of 0.83. The firm has a market capitalization of $12,552.13, a price-to-earnings ratio of 32.29, a PEG ratio of 2.66 and a beta of 0.70.
Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Wednesday, October 25th. The insurance provider reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.20). Arch Capital Group had a return on equity of 5.57% and a net margin of 9.44%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the company posted $1.14 EPS. The firm’s revenue was up 30.7% compared to the same quarter last year. research analysts forecast that Arch Capital Group Ltd. will post 3.27 EPS for the current fiscal year.
In related news, CEO Nicolas Papadopoulo sold 80,694 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $93.80, for a total value of $7,569,097.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark Donald Lyons sold 9,967 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $97.31, for a total value of $969,888.77. The disclosure for this sale can be found here. Insiders have sold 187,633 shares of company stock worth $17,864,402 in the last ninety days. Corporate insiders own 6.60% of the company’s stock.
ACGL has been the topic of a number of research analyst reports. Wells Fargo & Company reissued a “hold” rating on shares of Arch Capital Group in a research report on Wednesday, July 26th. Keefe, Bruyette & Woods set a $100.00 target price on Arch Capital Group and gave the company a “hold” rating in a research report on Friday, August 11th. Buckingham Research initiated coverage on Arch Capital Group in a research report on Monday, September 11th. They issued a “buy” rating and a $106.00 target price on the stock. UBS AG cut their target price on Arch Capital Group from $114.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, September 19th. Finally, Zacks Investment Research lowered Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $100.70.
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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