iA Global Asset Management Inc. Reduces Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

iA Global Asset Management Inc. lessened its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 12.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,392 shares of the insurance provider’s stock after selling 2,341 shares during the period. iA Global Asset Management Inc.’s holdings in Arch Capital Group were worth $1,515,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ACGL. Assenagon Asset Management S.A. increased its position in shares of Arch Capital Group by 0.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 33,283 shares of the insurance provider’s stock valued at $3,077,000 after purchasing an additional 117 shares during the last quarter. Sunbelt Securities Inc. grew its position in Arch Capital Group by 1.8% during the 1st quarter. Sunbelt Securities Inc. now owns 6,679 shares of the insurance provider’s stock worth $617,000 after acquiring an additional 117 shares during the last quarter. Resonant Capital Advisors LLC grew its position in Arch Capital Group by 2.1% during the 1st quarter. Resonant Capital Advisors LLC now owns 5,802 shares of the insurance provider’s stock worth $536,000 after acquiring an additional 118 shares during the last quarter. Petra Financial Advisors Inc. grew its position in Arch Capital Group by 1.2% during the 1st quarter. Petra Financial Advisors Inc. now owns 10,574 shares of the insurance provider’s stock worth $977,000 after acquiring an additional 129 shares during the last quarter. Finally, Headlands Technologies LLC grew its position in Arch Capital Group by 1.1% during the 1st quarter. Headlands Technologies LLC now owns 12,538 shares of the insurance provider’s stock worth $1,159,000 after acquiring an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling

In related news, CEO David Gansberg sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $96.64, for a total transaction of $966,400.00. Following the completion of the sale, the chief executive officer now directly owns 228,035 shares of the company’s stock, valued at approximately $22,037,302.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.20% of the stock is owned by corporate insiders.

Arch Capital Group Trading Up 0.6 %

Shares of NASDAQ:ACGL traded up $0.55 during trading on Friday, hitting $97.65. The company had a trading volume of 1,213,206 shares, compared to its average volume of 1,667,134. The stock has a market cap of $36.67 billion, a price-to-earnings ratio of 7.66, a price-to-earnings-growth ratio of 1.60 and a beta of 0.58. Arch Capital Group Ltd. has a one year low of $72.85 and a one year high of $103.79. The company has a fifty day simple moving average of $99.22 and a two-hundred day simple moving average of $92.97. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.59 and a quick ratio of 0.59.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.36. The business had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.89 billion. Arch Capital Group had a return on equity of 22.39% and a net margin of 35.19%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the company earned $1.92 EPS. As a group, equities analysts forecast that Arch Capital Group Ltd. will post 8.58 earnings per share for the current year.

Wall Street Analyst Weigh In

ACGL has been the subject of several research analyst reports. StockNews.com cut Arch Capital Group from a “buy” rating to a “hold” rating in a report on Wednesday. Evercore ISI upped their price target on Arch Capital Group from $100.00 to $104.00 and gave the company an “in-line” rating in a report on Wednesday. Roth Mkm reaffirmed a “buy” rating and set a $110.00 price target on shares of Arch Capital Group in a report on Tuesday, April 30th. JMP Securities upped their price target on Arch Capital Group from $110.00 to $115.00 and gave the company a “market outperform” rating in a report on Wednesday. Finally, Bank of America lowered their price target on Arch Capital Group from $119.00 to $118.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Arch Capital Group presently has an average rating of “Moderate Buy” and a consensus price target of $104.53.

About Arch Capital Group

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.