Amalgamated Bank Raises Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

Amalgamated Bank raised its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 9.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 81,744 shares of the insurance provider’s stock after acquiring an additional 6,948 shares during the period. Amalgamated Bank’s holdings in Arch Capital Group were worth $9,146,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ACGL. State Board of Administration of Florida Retirement System raised its position in Arch Capital Group by 5.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 431,105 shares of the insurance provider’s stock worth $39,851,000 after buying an additional 21,332 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in Arch Capital Group by 2.6% in the second quarter. Sequoia Financial Advisors LLC now owns 20,871 shares of the insurance provider’s stock valued at $2,106,000 after purchasing an additional 519 shares during the period. Cetera Advisors LLC boosted its holdings in Arch Capital Group by 70.9% in the 1st quarter. Cetera Advisors LLC now owns 13,700 shares of the insurance provider’s stock valued at $1,266,000 after purchasing an additional 5,684 shares in the last quarter. Swedbank AB acquired a new position in Arch Capital Group during the 1st quarter worth approximately $25,060,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Arch Capital Group by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,052,549 shares of the insurance provider’s stock worth $97,299,000 after buying an additional 7,109 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Francois Morin sold 11,460 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 221,779 shares in the company, valued at approximately $22,723,476.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 4.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on ACGL shares. JMP Securities increased their price objective on Arch Capital Group from $115.00 to $125.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 15th. Royal Bank of Canada cut their price target on shares of Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Bank of America boosted their price objective on shares of Arch Capital Group from $119.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Barclays started coverage on shares of Arch Capital Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 price target for the company. Finally, Jefferies Financial Group upped their price target on Arch Capital Group from $114.00 to $134.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $119.87.

Arch Capital Group Price Performance

NASDAQ:ACGL opened at $96.50 on Wednesday. The firm has a market cap of $36.29 billion, a price-to-earnings ratio of 6.48, a price-to-earnings-growth ratio of 1.38 and a beta of 0.61. Arch Capital Group Ltd. has a 12-month low of $72.85 and a 12-month high of $116.47. The company has a current ratio of 0.58, a quick ratio of 0.60 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average is $110.14 and its two-hundred day moving average is $102.90.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.05. The firm had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.05 billion. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. During the same quarter last year, the business earned $2.31 earnings per share. Research analysts expect that Arch Capital Group Ltd. will post 9.09 EPS for the current year.

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.