Arch Capital Group Ltd. (ACGL) Shares Sold by Scout Investments Inc.
Scout Investments Inc. cut its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 20.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 231,342 shares of the insurance provider’s stock after selling 57,757 shares during the period. Scout Investments Inc. owned approximately 0.17% of Arch Capital Group worth $21,582,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. US Bancorp DE boosted its stake in Arch Capital Group by 7.5% in the first quarter. US Bancorp DE now owns 9,998 shares of the insurance provider’s stock valued at $948,000 after buying an additional 696 shares during the period. Insight 2811 Inc. boosted its stake in Arch Capital Group by 13.0% in the first quarter. Insight 2811 Inc. now owns 3,618 shares of the insurance provider’s stock valued at $343,000 after buying an additional 415 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in Arch Capital Group by 14.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 26,200 shares of the insurance provider’s stock valued at $2,529,000 after buying an additional 3,252 shares during the period. First Trust Advisors LP boosted its stake in Arch Capital Group by 176.5% in the first quarter. First Trust Advisors LP now owns 158,570 shares of the insurance provider’s stock valued at $15,028,000 after buying an additional 101,220 shares during the period. Finally, Capital One National Association bought a new stake in Arch Capital Group during the first quarter valued at approximately $214,000. 76.92% of the stock is owned by institutional investors and hedge funds.
Arch Capital Group Ltd. (NASDAQ:ACGL) opened at 96.66 on Thursday. The stock has a market cap of $13.00 billion, a PE ratio of 17.58 and a beta of 0.67. The firm has a 50-day moving average price of $96.93 and a 200 day moving average price of $95.33. Arch Capital Group Ltd. has a 52-week low of $76.47 and a 52-week high of $99.47.
Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.01. Arch Capital Group had a return on equity of 8.76% and a net margin of 15.65%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the company earned $1.13 EPS. The firm’s revenue was up 22.0% on a year-over-year basis. Equities analysts anticipate that Arch Capital Group Ltd. will post $5.35 earnings per share for the current year.
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Several equities research analysts have recently commented on ACGL shares. Wells Fargo & Company restated a “hold” rating on shares of Arch Capital Group in a research note on Wednesday, June 14th. Keefe, Bruyette & Woods restated a “hold” rating and set a $95.00 price target on shares of Arch Capital Group in a research note on Tuesday, July 4th. BidaskClub upgraded Arch Capital Group from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, Zacks Investment Research cut Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Arch Capital Group currently has a consensus rating of “Hold” and an average target price of $92.89.
In other Arch Capital Group news, CFO Mark Donald Lyons sold 8,266 shares of Arch Capital Group stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $93.53, for a total value of $773,118.98. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP W Preston Hutchings sold 12,500 shares of Arch Capital Group stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $96.81, for a total value of $1,210,125.00. Following the completion of the sale, the senior vice president now directly owns 39,411 shares in the company, valued at approximately $3,815,378.91. The disclosure for this sale can be found here. Insiders have sold a total of 70,766 shares of company stock worth $6,877,244 in the last ninety days. 6.60% of the stock is currently owned by company insiders.
About Arch Capital Group
Arch Capital Group Ltd. provides insurance, reinsurance and mortgage insurance. The Company provides a range of property, casualty and mortgage insurance and reinsurance lines. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The insurance segment’s product lines include construction and national accounts; excess and surplus casualty; lenders products; professional lines; programs; property, energy, marine and aviation; travel, accident and health, and other.
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