Arch Capital Group Ltd. $ACGL Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. significantly reduced its stake in Arch Capital Group Ltd. by 69.5%, leaving them with 11,141 shares valued at approximately $1,014,000 after selling 25,366 shares in the second quarter.
• A variety of institutional investors increased their holdings in Arch Capital Group, with notable increases including a 27.7% stake rise from Hemington Wealth Management during the first quarter.
• Arch Capital Group's current stock price stands at $90.88, with a market capitalization of $33.92 billion and analysts maintaining a consensus rating of "Moderate Buy" with an average target price of $109.36.

Assenagon Asset Management S.A. lowered its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 69.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,141 shares of the insurance provider's stock after selling 25,366 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Arch Capital Group were worth $1,014,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Harbour Investments Inc. increased its stake in Arch Capital Group by 8.4% during the first quarter. Harbour Investments Inc. now owns 1,431 shares of the insurance provider's stock worth $138,000 after purchasing an additional 111 shares during the period. Resonant Capital Advisors LLC increased its stake in Arch Capital Group by 1.7% during the first quarter. Resonant Capital Advisors LLC now owns 6,672 shares of the insurance provider's stock worth $642,000 after purchasing an additional 113 shares during the period. Venturi Wealth Management LLC increased its stake in Arch Capital Group by 0.9% during the first quarter. Venturi Wealth Management LLC now owns 13,228 shares of the insurance provider's stock worth $1,272,000 after purchasing an additional 115 shares during the period. Hemington Wealth Management increased its stake in Arch Capital Group by 27.7% during the first quarter. Hemington Wealth Management now owns 548 shares of the insurance provider's stock worth $52,000 after purchasing an additional 119 shares during the period. Finally, Horizon Advisory Services Inc. increased its stake in Arch Capital Group by 4.2% during the first quarter. Horizon Advisory Services Inc. now owns 2,996 shares of the insurance provider's stock worth $288,000 after purchasing an additional 120 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on ACGL shares. Cowen reiterated a "buy" rating on shares of Arch Capital Group in a research note on Monday, August 4th. Citigroup initiated coverage on Arch Capital Group in a report on Wednesday, August 13th. They set a "buy" rating and a $113.00 price target for the company. UBS Group reaffirmed a "buy" rating and set a $118.00 price target (down previously from $124.00) on shares of Arch Capital Group in a research note on Monday, August 4th. Jefferies Financial Group downgraded shares of Arch Capital Group from a "buy" rating to a "hold" rating and cut their target price for the company from $106.00 to $100.00 in a research note on Tuesday, June 10th. Finally, Keefe, Bruyette & Woods lifted their price target on Arch Capital Group from $102.00 to $103.00 and gave the company a "market perform" rating in a report on Thursday, August 14th. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Arch Capital Group currently has an average rating of "Moderate Buy" and an average target price of $109.36.

Arch Capital Group Trading Up 1.5%

Shares of ACGL stock opened at $90.88 on Friday. The stock has a 50-day simple moving average of $89.84 and a 200 day simple moving average of $91.21. Arch Capital Group Ltd. has a fifty-two week low of $82.49 and a fifty-two week high of $116.47. The stock has a market capitalization of $33.92 billion, a P/E ratio of 9.38, a P/E/G ratio of 5.56 and a beta of 0.51. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.30 by $0.28. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%.The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the prior year, the business posted $2.57 earnings per share. On average, sell-side analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Insider Activity at Arch Capital Group

In other news, insider Maamoun Rajeh sold 10,000 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total transaction of $941,500.00. Following the completion of the sale, the insider directly owned 433,589 shares of the company's stock, valued at $40,822,404.35. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.20% of the stock is currently owned by corporate insiders.

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.

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