Eaton Vance Management Purchases 1,915,807 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Eaton Vance Management boosted its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 105.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,727,007 shares of the insurance provider’s stock after buying an additional 1,915,807 shares during the quarter. Eaton Vance Management owned approximately 0.92% of Arch Capital Group worth $143,006,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Cordasco Financial Network raised its holdings in Arch Capital Group by 246.5% during the 1st quarter. Cordasco Financial Network now owns 984 shares of the insurance provider’s stock valued at $38,000 after buying an additional 700 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Arch Capital Group by 197.9% in the 1st quarter. Quadrant Capital Group LLC now owns 1,281 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 851 shares in the last quarter. Bessemer Group Inc. raised its holdings in Arch Capital Group by 67.9% in the 1st quarter. Bessemer Group Inc. now owns 1,338 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 541 shares in the last quarter. Allred Capital Management LLC bought a new position in Arch Capital Group in the 1st quarter worth $58,000. Finally, First Mercantile Trust Co. raised its holdings in Arch Capital Group by 155.5% in the 1st quarter. First Mercantile Trust Co. now owns 1,602 shares of the insurance provider’s stock worth $61,000 after purchasing an additional 975 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

NASDAQ:ACGL opened at $38.48 on Thursday. The stock has a 50-day simple moving average of $39.04. The stock has a market cap of $15.53 billion, a P/E ratio of 9.48, a PEG ratio of 1.21 and a beta of 0.86. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.27. Arch Capital Group Ltd. has a 1-year low of $27.41 and a 1-year high of $41.28.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Monday, April 26th. The insurance provider reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.09. Arch Capital Group had a net margin of 18.36% and a return on equity of 4.96%. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the firm posted $0.46 EPS. Arch Capital Group’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, analysts expect that Arch Capital Group Ltd. will post 3.13 EPS for the current fiscal year.

ACGL has been the subject of several research reports. JMP Securities upped their price objective on shares of Arch Capital Group from $43.00 to $45.00 and gave the stock a “market outperform” rating in a report on Wednesday, April 28th. Royal Bank of Canada upped their price objective on shares of Arch Capital Group from $41.00 to $47.00 in a report on Wednesday, April 14th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Arch Capital Group from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, March 29th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $41.43.

In other news, SVP W Preston Hutchings sold 37,500 shares of the firm’s stock in a transaction dated Thursday, May 27th. The shares were sold at an average price of $39.51, for a total transaction of $1,481,625.00. Following the sale, the senior vice president now owns 44,553 shares of the company’s stock, valued at approximately $1,760,289.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Brian S. Posner sold 4,000 shares of the firm’s stock in a transaction dated Monday, June 14th. The shares were sold at an average price of $25.24, for a total transaction of $100,960.00. Following the sale, the director now directly owns 2,000 shares in the company, valued at approximately $50,480. The disclosure for this sale can be found here. Insiders have sold a total of 122,146 shares of company stock worth $4,835,015 over the last three months. 3.90% of the stock is currently owned by insiders.

Arch Capital Group Company Profile

Arch Capital Group Ltd. provides property and casualty insurance and reinsurance lines. It operates through the following segments: Insurance, Reinsurance, Mortgage, Corporate (Non-Underwriting), and Other. The Insurance segment consists insurance underwriting units which offer specialty product lines like construction and national accounts, excess and surplus casualty, lenders products, professional lines, and programs.

Further Reading: What is the market perform rating?

Institutional Ownership by Quarter for Arch Capital Group (NASDAQ:ACGL)

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