Assenagon Asset Management S.A. Has $4.82 Million Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Assenagon Asset Management S.A. lowered its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 32.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,691 shares of the insurance provider’s stock after selling 24,884 shares during the period. Arch Capital Group accounts for 0.1% of Assenagon Asset Management S.A.’s holdings, making the stock its 29th largest position. Assenagon Asset Management S.A.’s holdings in Arch Capital Group were worth $4,822,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. Proficio Capital Partners LLC increased its stake in Arch Capital Group by 75.5% in the first quarter. Proficio Capital Partners LLC now owns 1,095 shares of the insurance provider’s stock worth $104,000 after buying an additional 471 shares during the period. Toronto Dominion Bank increased its stake in Arch Capital Group by 26.5% in the first quarter. Toronto Dominion Bank now owns 1,343 shares of the insurance provider’s stock worth $127,000 after buying an additional 281 shares during the period. Parallel Advisors LLC raised its position in shares of Arch Capital Group by 13.1% in the first quarter. Parallel Advisors LLC now owns 1,350 shares of the insurance provider’s stock worth $130,000 after buying an additional 156 shares in the last quarter. Crow Point Partners LLC acquired a new position in shares of Arch Capital Group during the second quarter worth $174,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in shares of Arch Capital Group by 57.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,273 shares of the insurance provider’s stock worth $196,000 after buying an additional 830 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Arch Capital Group Ltd. (NASDAQ:ACGL) traded down 0.40% on Friday, hitting $96.14. The stock had a trading volume of 264,226 shares. The firm has a market cap of $12.93 billion, a PE ratio of 17.49 and a beta of 0.67. The company’s 50 day moving average is $96.20 and its 200 day moving average is $94.79. Arch Capital Group Ltd. has a 12-month low of $74.16 and a 12-month high of $99.47.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data 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. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.28 billion. Arch Capital Group had a return on equity of 8.76% and a net margin of 15.65%. The business’s revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.13 earnings per share. On average, equities research analysts expect that Arch Capital Group Ltd. will post $5.35 EPS for the current fiscal year.

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Several brokerages have issued reports on ACGL. Wells Fargo & Company reiterated a “hold” rating on shares of Arch Capital Group in a research report on Wednesday, June 14th. Morgan Stanley boosted their price objective on shares of Arch Capital Group from $90.00 to $96.00 and gave the company an “equal weight” rating in a research report on Friday, April 28th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $95.00 price target on shares of Arch Capital Group in a research note on Tuesday, July 4th. BidaskClub upgraded shares of Arch Capital Group from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, Zacks Investment Research lowered shares of Arch Capital Group from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. Arch Capital Group currently has an average rating of “Hold” and an average price target of $92.55.

In other news, CEO Nicolas Papadopoulo sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $95.39, for a total transaction of $1,907,800.00. Following the completion of the sale, the chief executive officer now owns 244,912 shares of the company’s stock, valued at $23,362,155.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Constantine Iordanou sold 37,168 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $95.52, for a total transaction of $3,550,287.36. Following the completion of the transaction, the chief executive officer now directly owns 178,072 shares in the company, valued at $17,009,437.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 203,756 shares of company stock worth $19,562,718. Company insiders own 6.60% of the company’s stock.

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.

Institutional Ownership by Quarter for Arch Capital Group (NASDAQ:ACGL)

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