Penn Capital Management Co. Inc. raised its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 11.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 49,594 shares of the insurance provider’s stock after acquiring an additional 5,153 shares during the quarter. Penn Capital Management Co. Inc.’s holdings in Arch Capital Group were worth $4,656,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Toronto Dominion Bank boosted its position in shares of Arch Capital Group by 18.8% during the 2nd quarter. Toronto Dominion Bank now owns 1,596 shares of the insurance provider’s stock worth $149,000 after acquiring an additional 253 shares in the last quarter. Alps Advisors Inc. acquired a new stake in shares of Arch Capital Group in the 4th quarter valued at about $203,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Arch Capital Group in the 2nd quarter valued at about $229,000. Dai Ichi Life Insurance Company Ltd acquired a new stake in shares of Arch Capital Group in the 3rd quarter valued at about $242,000. Finally, IFM Investors Pty Ltd acquired a new stake in shares of Arch Capital Group in the 3rd quarter valued at about $260,000. 76.96% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on ACGL. Wells Fargo & Co set a $96.00 target price on Arch Capital Group and gave the company a “hold” rating in a research report on Monday, February 12th. BidaskClub downgraded Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. UBS Group reaffirmed a “buy” rating on shares of Arch Capital Group in a research note on Monday, October 30th. Zacks Investment Research raised Arch Capital Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 25th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $101.00 target price on shares of Arch Capital Group in a research note on Wednesday, December 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $100.67.
Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Monday, February 12th. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.21. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. Arch Capital Group had a return on equity of 5.95% and a net margin of 11.21%. The company’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.13 EPS. research analysts anticipate that Arch Capital Group Ltd. will post 6.24 earnings per share for the current year.
In other news, insider Louis T. Petrillo sold 5,921 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $91.07, for a total transaction of $539,225.47. Following the completion of the transaction, the insider now directly owns 43,268 shares of the company’s stock, valued at approximately $3,940,416.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Mark Donald Lyons sold 5,500 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $92.04, for a total value of $506,220.00. The disclosure for this sale can be found here. Corporate insiders own 6.60% of the company’s stock.
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Arch Capital Group Company 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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