SG Americas Securities LLC Sells 13,265 Shares of Arch Capital Group Ltd. (ACGL)
SG Americas Securities LLC decreased its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 43.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,156 shares of the insurance provider’s stock after selling 13,265 shares during the period. SG Americas Securities LLC’s holdings in Arch Capital Group were worth $1,690,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position 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 period. FMR LLC increased its position 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 period. Wells Fargo & Company MN increased its position in Arch Capital Group by 13.3% during the 2nd quarter. Wells Fargo & Company MN now owns 2,237,908 shares of the insurance provider’s stock worth $208,774,000 after buying an additional 262,893 shares during the period. Citadel Advisors LLC increased its position 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 period. Finally, Principal Financial Group Inc. increased its position in Arch Capital Group by 0.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,967,055 shares of the insurance provider’s stock worth $193,755,000 after buying an additional 11,802 shares during the period. Hedge funds and other institutional investors own 74.37% of the company’s stock.
In related news, CEO Nicolas Papadopoulo sold 54,554 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $95.53, for a total value of $5,211,543.62. Following the transaction, the chief executive officer now owns 147,481 shares in the company, valued at $14,088,859.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Rippert sold 3,500 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $94.25, for a total value of $329,875.00. The disclosure for this sale can be found here. Insiders sold 187,633 shares of company stock worth $17,864,402 in the last 90 days. 6.60% of the stock is owned by company insiders.
Arch Capital Group Ltd. (ACGL) opened at $95.66 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.83 and a quick ratio of 0.83. Arch Capital Group Ltd. has a 12-month low of $81.35 and a 12-month high of $102.60. The company has a market capitalization of $12,519.41, a price-to-earnings ratio of 32.21, a P/E/G ratio of 2.70 and a beta of 0.70.
Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Wednesday, October 25th. The insurance provider reported ($0.79) EPS for the quarter, missing the Zacks’ consensus estimate 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 during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the business posted $1.14 EPS. The firm’s revenue for the quarter was up 30.7% on a year-over-year basis. analysts expect that Arch Capital Group Ltd. will post 3.23 EPS for the current fiscal year.
ACGL has been the topic of several recent research reports. Zacks Investment Research upgraded Arch Capital Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Royal Bank Of Canada reiterated a “buy” rating and set a $113.00 price objective on shares of Arch Capital Group in a research report on Friday, October 27th. UBS AG lowered their price objective 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. Buckingham Research started coverage on Arch Capital Group in a research report on Monday, September 11th. They set a “buy” rating and a $106.00 price objective on the stock. Finally, Barclays PLC raised their price target on Arch Capital Group from $91.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Monday, October 16th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Arch Capital Group has a consensus rating of “Hold” and a consensus 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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