Colony Group LLC Has $3.02 Million Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)
Colony Group LLC trimmed its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,364 shares of the insurance provider’s stock after selling 2,448 shares during the quarter. Colony Group LLC’s holdings in Arch Capital Group were worth $3,018,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in ACGL. Voya Investment Management LLC boosted its position in shares of Arch Capital Group by 6.1% in the 3rd quarter. Voya Investment Management LLC now owns 77,654 shares of the insurance provider’s stock worth $3,260,000 after purchasing an additional 4,459 shares during the last quarter. Redpoint Investment Management Pty Ltd boosted its holdings in Arch Capital Group by 725.8% during the third quarter. Redpoint Investment Management Pty Ltd now owns 49,489 shares of the insurance provider’s stock worth $2,078,000 after buying an additional 43,496 shares during the last quarter. State Street Corp boosted its holdings in Arch Capital Group by 0.5% during the third quarter. State Street Corp now owns 10,365,711 shares of the insurance provider’s stock worth $435,153,000 after buying an additional 52,060 shares during the last quarter. Pictet Asset Management Ltd. boosted its holdings in Arch Capital Group by 25.7% during the third quarter. Pictet Asset Management Ltd. now owns 210,224 shares of the insurance provider’s stock worth $8,825,000 after buying an additional 43,000 shares during the last quarter. Finally, California State Teachers Retirement System grew its position in shares of Arch Capital Group by 0.3% during the 3rd quarter. California State Teachers Retirement System now owns 640,800 shares of the insurance provider’s stock worth $26,901,000 after buying an additional 2,110 shares during the period. 79.51% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Francois Morin sold 6,990 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $48.16, for a total transaction of $336,638.40. Following the completion of the transaction, the chief financial officer now directly owns 32,150 shares in the company, valued at $1,548,344. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP W Preston Hutchings sold 40,000 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $45.96, for a total value of $1,838,400.00. Following the transaction, the senior vice president now owns 45,719 shares of the company’s stock, valued at $2,101,245.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,990 shares of company stock worth $4,059,038. 5.20% of the stock is currently owned by company insiders.
Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.07. Arch Capital Group had a net margin of 23.47% and a return on equity of 10.92%. The firm had revenue of $1.67 billion for the quarter. On average, analysts predict that Arch Capital Group Ltd. will post 2.99 EPS for the current year.
A number of brokerages have recently commented on ACGL. Morgan Stanley upped their price target on Arch Capital Group from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Cfra boosted their price objective on shares of Arch Capital Group from $48.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Co raised shares of Arch Capital Group from an “equal weight” rating to an “overweight” rating and set a $48.00 target price for the company in a research note on Monday, January 6th. BidaskClub lowered shares of Arch Capital Group from a “buy” rating to a “hold” rating in a report on Friday, March 20th. Finally, Barclays reissued a “buy” rating and set a $52.00 price target on shares of Arch Capital Group in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $45.59.
Arch Capital Group 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.
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