Pitcairn Co. Purchases New Position in Arch Capital Group Ltd. (ACGL)
Pitcairn Co. purchased a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,828 shares of the insurance provider’s stock, valued at approximately $377,000.
A number of other large investors have also recently added to or reduced their stakes in ACGL. Citadel Advisors LLC grew its stake in Arch Capital Group by 1,388.0% during the 2nd quarter. Citadel Advisors LLC now owns 2,088,015 shares of the insurance provider’s stock worth $194,792,000 after buying an additional 1,947,691 shares during the last quarter. Janus Henderson Group PLC grew its stake in Arch Capital Group by 5,723.3% during the 2nd quarter. Janus Henderson Group PLC now owns 1,074,932 shares of the insurance provider’s stock worth $100,280,000 after buying an additional 1,056,473 shares during the last quarter. Vanguard Group Inc. grew its stake in Arch Capital Group by 7.7% during the 2nd quarter. Vanguard Group Inc. now owns 10,331,707 shares of the insurance provider’s stock worth $963,845,000 after buying an additional 742,855 shares during the last quarter. FMR LLC grew its stake in Arch Capital Group by 21.0% during the 2nd quarter. FMR LLC now owns 2,294,852 shares of the insurance provider’s stock worth $214,087,000 after buying an additional 398,988 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Arch Capital Group by 32.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,609,474 shares of the insurance provider’s stock worth $150,148,000 after buying an additional 395,629 shares during the last quarter. Hedge funds and other institutional investors own 73.19% of the company’s stock.
In other news, CEO Andrew Rippert sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $94.25, for a total value of $329,875.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Nicolas Papadopoulo sold 80,694 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $93.80, for a total value of $7,569,097.20. The disclosure for this sale can be found here. Insiders sold a total of 187,633 shares of company stock valued at $17,864,402 over the last three months. Insiders own 6.60% of the company’s stock.
Arch Capital Group Ltd. (NASDAQ ACGL) traded down $0.56 on Friday, hitting $95.35. The stock had a trading volume of 452,800 shares, compared to its average volume of 605,390. The company has a quick ratio of 0.77, a current ratio of 0.83 and a debt-to-equity ratio of 0.49. The firm has a market cap of $12,478.83, a PE ratio of 32.10, a P/E/G ratio of 2.65 and a beta of 0.70. Arch Capital Group Ltd. has a 1-year low of $79.86 and a 1-year high of $102.60.
Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Wednesday, October 25th. The insurance provider reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.20). The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.16 billion. Arch Capital Group had a negative net margin of 3.12% and a negative return on equity of 2.77%. The firm’s quarterly revenue was up 30.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 earnings per share. sell-side analysts expect that Arch Capital Group Ltd. will post 3.27 EPS for the current fiscal year.
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ACGL has been the topic of a number of research reports. Wells Fargo & Company set a $100.00 price target on Arch Capital Group and gave the stock a “hold” rating in a research note on Thursday, October 26th. Buckingham Research began coverage on Arch Capital Group in a research note on Monday, September 11th. They issued a “buy” rating and a $106.00 target price on the stock. UBS AG lowered their target price on Arch Capital Group from $114.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, September 19th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $100.00 target price on shares of Arch Capital Group in a research note on Thursday, September 21st. Finally, Zacks Investment Research downgraded Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Arch Capital Group has a consensus rating of “Hold” and an average price target of $100.70.
Arch Capital Group Company 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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