Crossmark Global Holdings Inc. bought a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,738 shares of the insurance provider’s stock, valued at approximately $368,000.
Several other hedge funds have also bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. grew its holdings in Arch Capital Group by 5.8% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 33,860 shares of the insurance provider’s stock valued at $3,335,000 after buying an additional 1,854 shares in the last quarter. Pictet Asset Management Ltd. grew its holdings in Arch Capital Group by 4.6% in the 3rd quarter. Pictet Asset Management Ltd. now owns 50,200 shares of the insurance provider’s stock valued at $4,945,000 after buying an additional 2,200 shares in the last quarter. First Trust Advisors LP grew its holdings in Arch Capital Group by 53.6% in the 3rd quarter. First Trust Advisors LP now owns 136,092 shares of the insurance provider’s stock valued at $13,405,000 after buying an additional 47,494 shares in the last quarter. Gilman Hill Asset Management LLC acquired a new position in Arch Capital Group in the 3rd quarter valued at $296,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in Arch Capital Group in the 3rd quarter valued at $631,000. 74.37% of the stock is currently owned by institutional investors and hedge funds.
Shares of Arch Capital Group Ltd. (NASDAQ:ACGL) opened at $95.66 on Friday. The stock has a market capitalization of $12,530.00, a price-to-earnings ratio of 32.19, a PEG ratio of 2.69 and a beta of 0.70. Arch Capital Group Ltd. has a 1-year low of $80.50 and a 1-year high of $102.60. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.49.
In other news, CEO Nicolas Papadopoulo sold 54,554 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $95.53, for a total transaction of $5,211,543.62. Following the sale, the chief executive officer now directly owns 147,481 shares of the company’s stock, valued at approximately $14,088,859.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew Rippert sold 3,500 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $94.25, for a total value of $329,875.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 187,633 shares of company stock worth $17,864,402. 6.60% of the stock is currently owned by insiders.
A number of research analysts have commented on ACGL shares. Keefe, Bruyette & Woods set a $100.00 price objective on Arch Capital Group and gave the company a “hold” rating in a report on Friday, August 11th. Buckingham Research started coverage on Arch Capital Group in a report on Monday, September 11th. They issued a “buy” rating and a $106.00 price objective on the stock. UBS AG decreased their price objective on Arch Capital Group from $114.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, September 19th. Zacks Investment Research lowered Arch Capital Group from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. Finally, Barclays PLC upped their price objective on Arch Capital Group from $91.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday, October 16th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Arch Capital Group has a consensus rating of “Hold” and a consensus target price of $100.70.
Arch Capital Group Profile
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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