Connable Office Inc. Sells 877 Shares of Arch Capital Group Ltd. $ACGL

Connable Office Inc. lowered its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 3.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,677 shares of the insurance provider’s stock after selling 877 shares during the quarter. Connable Office Inc.’s holdings in Arch Capital Group were worth $2,338,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. JPMorgan Chase & Co. increased its holdings in shares of Arch Capital Group by 30.5% during the first quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider’s stock valued at $718,522,000 after acquiring an additional 1,743,945 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Arch Capital Group by 3.0% during the first quarter. Northern Trust Corp now owns 5,005,790 shares of the insurance provider’s stock valued at $481,457,000 after acquiring an additional 144,986 shares in the last quarter. Madison Asset Management LLC increased its holdings in shares of Arch Capital Group by 9.0% during the first quarter. Madison Asset Management LLC now owns 4,837,602 shares of the insurance provider’s stock valued at $465,281,000 after acquiring an additional 397,857 shares in the last quarter. Egerton Capital UK LLP increased its holdings in shares of Arch Capital Group by 8.5% during the first quarter. Egerton Capital UK LLP now owns 4,325,217 shares of the insurance provider’s stock valued at $415,999,000 after acquiring an additional 337,245 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Arch Capital Group by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,176,984 shares of the insurance provider’s stock valued at $401,710,000 after acquiring an additional 26,160 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Stock Down 0.4%

NASDAQ ACGL opened at $86.00 on Tuesday. The business has a fifty day moving average price of $89.65 and a 200 day moving average price of $90.53. Arch Capital Group Ltd. has a one year low of $82.44 and a one year high of $103.17. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.56 and a current ratio of 0.55. The company has a market cap of $32.10 billion, a P/E ratio of 8.04, a P/E/G ratio of 3.24 and a beta of 0.47.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.77 EPS for the quarter, beating the consensus estimate of $1.76 by $1.01. Arch Capital Group had a return on equity of 16.38% and a net margin of 20.96%.The firm had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the prior year, the company earned $1.99 EPS. Research analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ACGL shares. Barclays set a $99.00 target price on Arch Capital Group and gave the company an “equal weight” rating in a research report on Wednesday, October 8th. Cantor Fitzgerald restated a “neutral” rating and issued a $98.00 price objective on shares of Arch Capital Group in a research report on Tuesday, October 28th. UBS Group restated a “buy” rating and issued a $118.00 price objective (down previously from $124.00) on shares of Arch Capital Group in a research report on Monday, August 4th. The Goldman Sachs Group set a $88.00 target price on Arch Capital Group and gave the company a “sell” rating in a research report on Tuesday, October 14th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Arch Capital Group in a research report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $108.64.

Insider Activity

In other Arch Capital Group news, insider Maamoun Rajeh sold 10,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total value of $941,500.00. Following the completion of the sale, the insider directly owned 433,589 shares of the company’s stock, valued at $40,822,404.35. This trade represents a 2.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.20% of the stock is owned by company insiders.

Arch Capital Group Company 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.