Arch Capital Group Ltd. (NASDAQ:ACGL) Shares Sold by AGF Management Ltd.

AGF Management Ltd. lowered its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 10.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 23,080 shares of the insurance provider’s stock after selling 2,835 shares during the period. AGF Management Ltd.’s holdings in Arch Capital Group were worth $2,329,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Kinsale Capital Group Inc. raised its holdings in shares of Arch Capital Group by 17.2% in the second quarter. Kinsale Capital Group Inc. now owns 51,413 shares of the insurance provider’s stock worth $5,187,000 after buying an additional 7,553 shares during the last quarter. Headlands Technologies LLC raised its holdings in shares of Arch Capital Group by 48.9% in the second quarter. Headlands Technologies LLC now owns 18,667 shares of the insurance provider’s stock worth $1,883,000 after buying an additional 6,129 shares during the last quarter. AMJ Financial Wealth Management raised its holdings in shares of Arch Capital Group by 1.5% in the second quarter. AMJ Financial Wealth Management now owns 35,008 shares of the insurance provider’s stock worth $3,532,000 after buying an additional 502 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Arch Capital Group by 10.9% in the second quarter. Daiwa Securities Group Inc. now owns 40,799 shares of the insurance provider’s stock worth $4,116,000 after buying an additional 4,022 shares during the last quarter. Finally, Andra AP fonden purchased a new position in shares of Arch Capital Group in the second quarter worth $13,075,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the completion of the sale, the chief financial officer now directly owns 221,779 shares in the company, valued at approximately $22,723,476.34. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.20% of the stock is owned by company insiders.

Arch Capital Group Stock Performance

NASDAQ ACGL opened at $112.02 on Friday. The stock has a market capitalization of $42.13 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 1.99 and a beta of 0.60. Arch Capital Group Ltd. has a twelve month low of $72.85 and a twelve month high of $114.65. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average of $102.58 and a 200 day moving average of $98.00.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.36. The company had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. Arch Capital Group’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.92 EPS. Sell-side analysts anticipate that Arch Capital Group Ltd. will post 9.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ACGL has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their price target on shares of Arch Capital Group from $111.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on Arch Capital Group from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Keefe, Bruyette & Woods boosted their price objective on Arch Capital Group from $120.00 to $121.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. JMP Securities boosted their price objective on Arch Capital Group from $110.00 to $115.00 and gave the company a “market outperform” rating in a report on Wednesday, July 31st. Finally, Citigroup boosted their price objective on Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $110.93.

Arch Capital Group Profile

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; 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.