Amalgamated Bank Grows Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Amalgamated Bank grew its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 9.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 81,744 shares of the insurance provider’s stock after acquiring an additional 6,948 shares during the quarter. Amalgamated Bank’s holdings in Arch Capital Group were worth $9,146,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Capital International Investors raised its position in Arch Capital Group by 61.1% in the first quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock valued at $380,167,000 after purchasing an additional 1,560,173 shares during the period. National Pension Service purchased a new stake in shares of Arch Capital Group during the 3rd quarter valued at about $64,271,000. International Assets Investment Management LLC lifted its position in Arch Capital Group by 18,634.1% during the 3rd quarter. International Assets Investment Management LLC now owns 551,345 shares of the insurance provider’s stock worth $616,840,000 after acquiring an additional 548,402 shares in the last quarter. Brandes Investment Partners LP acquired a new position in Arch Capital Group during the 2nd quarter worth approximately $48,119,000. Finally, Natixis Advisors LLC boosted its holdings in Arch Capital Group by 59.1% in the 2nd quarter. Natixis Advisors LLC now owns 1,139,480 shares of the insurance provider’s stock worth $114,962,000 after acquiring an additional 423,406 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the transaction, the chief financial officer now owns 221,779 shares in the company, valued at approximately $22,723,476.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.00% of the company’s stock.

Wall Street Analyst Weigh In

ACGL has been the topic of a number of recent research reports. Bank of America boosted their target price on shares of Arch Capital Group from $119.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. TD Cowen boosted their price objective on shares of Arch Capital Group from $116.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, September 20th. JPMorgan Chase & Co. raised their target price on Arch Capital Group from $108.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Evercore ISI boosted their price target on Arch Capital Group from $104.00 to $107.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 9th. Finally, Citigroup raised their price objective on Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.87.

Arch Capital Group Trading Up 1.6 %

NASDAQ ACGL opened at $96.50 on Wednesday. The firm has a market capitalization of $36.29 billion, a PE ratio of 6.48, a price-to-earnings-growth ratio of 1.38 and a beta of 0.61. Arch Capital Group Ltd. has a one year low of $72.85 and a one year high of $116.47. The company has a 50-day simple moving average of $110.14 and a 200-day simple moving average of $102.90. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.60 and a current ratio of 0.58.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.05. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. The business had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the previous year, the firm posted $2.31 EPS. On average, equities analysts forecast that Arch Capital Group Ltd. will post 9.09 earnings per share for the current year.

Arch Capital Group Profile

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; 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.