Swiss National Bank lowered its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.4% during the fourth quarter, HoldingsChannel reports. The firm owned 2,488,423 shares of the insurance provider’s stock after selling 36,000 shares during the period. Swiss National Bank’s holdings in Arch Capital Group were worth $106,728,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Parallel Advisors LLC lifted its position in shares of Arch Capital Group by 24.8% in the 4th quarter. Parallel Advisors LLC now owns 1,424 shares of the insurance provider’s stock valued at $61,000 after acquiring an additional 283 shares in the last quarter. World Asset Management Inc grew its position in Arch Capital Group by 2.5% during the 3rd quarter. World Asset Management Inc now owns 12,273 shares of the insurance provider’s stock worth $515,000 after purchasing an additional 305 shares in the last quarter. Financial Advantage Inc. raised its stake in Arch Capital Group by 0.3% during the 3rd quarter. Financial Advantage Inc. now owns 119,263 shares of the insurance provider’s stock valued at $5,006,000 after purchasing an additional 310 shares during the period. TCI Wealth Advisors Inc. raised its stake in Arch Capital Group by 89.1% during the 4th quarter. TCI Wealth Advisors Inc. now owns 660 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 311 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Arch Capital Group by 2.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 15,226 shares of the insurance provider’s stock valued at $640,000 after purchasing an additional 329 shares in the last quarter. 79.34% of the stock is currently owned by hedge funds and other institutional investors.
ACGL stock traded down $0.37 during midday trading on Friday, reaching $47.46. The company had a trading volume of 26,173 shares, compared to its average volume of 1,413,417. The company has a 50 day moving average of $44.44 and a two-hundred day moving average of $41.72. The company has a market capitalization of $19.29 billion, a P/E ratio of 13.89, a PEG ratio of 1.56 and a beta of 0.62. Arch Capital Group Ltd. has a 1 year low of $31.09 and a 1 year high of $47.94. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.26.
Several analysts have recently commented on the company. Cfra raised their target price on Arch Capital Group from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays reissued a “buy” rating and set a $52.00 price target on shares of Arch Capital Group in a research report on Tuesday, January 7th. Wells Fargo & Co raised Arch Capital Group from an “equal weight” rating to an “overweight” rating and set a $48.00 price target on the stock in a research report on Monday, January 6th. MKM Partners increased their price objective on Arch Capital Group from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, BidaskClub upgraded Arch Capital Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $43.34.
In related news, Director John D. Vollaro sold 9,900 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $41.02, for a total value of $406,098.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Louis T. Petrillo sold 13,349 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $40.83, for a total value of $545,039.67. Over the last quarter, insiders have sold 48,249 shares of company stock valued at $1,991,138. 5.20% of the stock is owned by corporate insiders.
About Arch Capital Group
Arch Capital Group Ltd., together with its subsidiaries, provides property, casualty, and mortgage insurance and reinsurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; collateral protection, debt cancellation, and service contract reimbursement products; 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.
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