Cubist Systematic Strategies LLC Has $583,000 Position in Arch Capital Group Ltd. (ACGL)
Cubist Systematic Strategies LLC lessened its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 52.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,915 shares of the insurance provider’s stock after selling 6,653 shares during the period. Cubist Systematic Strategies LLC’s holdings in Arch Capital Group were worth $583,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in ACGL. Acrospire Investment Management LLC bought a new stake in Arch Capital Group in the second quarter valued at $112,000. Vantage Investment Advisors LLC increased its stake 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 in the last quarter. Parallel Advisors LLC increased its stake 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 in the last quarter. Toronto Dominion Bank increased its stake 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 in the last quarter. Finally, Pacer Advisors Inc. bought a new stake in Arch Capital Group in the second quarter valued at $197,000. 79.41% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Nicolas Papadopoulo sold 54,554 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $95.53, for a total transaction of $5,211,543.62. Following the transaction, the chief executive officer now directly owns 147,481 shares in the company, valued at $14,088,859.93. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Louis T. Petrillo sold 5,921 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $91.07, for a total transaction of $539,225.47. Following the transaction, the insider now owns 43,268 shares in the company, valued at $3,940,416.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,975 shares of company stock worth $6,256,989. 6.60% of the stock is owned by corporate insiders.
Several equities research analysts have weighed in on ACGL shares. Buckingham Research started coverage on shares of Arch Capital Group in a research note on Monday, September 11th. They issued a “buy” rating and a $106.00 price target for the company. UBS Group decreased their price target on shares of Arch Capital Group from $114.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, September 19th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $100.00 price target on shares of Arch Capital Group in a research note on Thursday, September 21st. Zacks Investment Research downgraded shares of Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Finally, Barclays lifted their price target on shares of Arch Capital Group from $91.00 to $95.00 and gave the company an “equal weight” rating in a research note on Monday, October 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $100.80.
Arch Capital Group Ltd. (ACGL) opened at $90.27 on Wednesday. The stock has a market cap of $11,810.00, a PE ratio of 29.21, a PEG ratio of 2.59 and a beta of 0.67. Arch Capital Group Ltd. has a twelve month low of $84.21 and a twelve month high of $102.60. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.49.
Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Wednesday, October 25th. The insurance provider reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.20). The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.16 billion. Arch Capital Group had a net margin of 9.44% and a return on equity of 5.57%. The firm’s quarterly revenue was up 30.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 earnings per share. sell-side analysts anticipate that Arch Capital Group Ltd. will post 3.15 EPS for the current fiscal year.
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Arch Capital Group Profile
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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