Channing Global Advisors LLC Raises Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Channing Global Advisors LLC boosted its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 95.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,905 shares of the insurance provider's stock after buying an additional 5,827 shares during the quarter. Arch Capital Group makes up approximately 0.8% of Channing Global Advisors LLC's portfolio, making the stock its 25th largest holding. Channing Global Advisors LLC's holdings in Arch Capital Group were worth $1,145,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Arch Capital Group in the 1st quarter valued at about $1,009,000. Nilsine Partners LLC raised its holdings in Arch Capital Group by 13.7% in the 1st quarter. Nilsine Partners LLC now owns 30,569 shares of the insurance provider's stock valued at $2,940,000 after acquiring an additional 3,695 shares during the last quarter. Praxis Investment Management Inc. raised its holdings in Arch Capital Group by 7.7% in the 1st quarter. Praxis Investment Management Inc. now owns 21,080 shares of the insurance provider's stock valued at $2,027,000 after acquiring an additional 1,500 shares during the last quarter. Blue Trust Inc. raised its holdings in Arch Capital Group by 10.8% in the 1st quarter. Blue Trust Inc. now owns 1,697 shares of the insurance provider's stock valued at $163,000 after acquiring an additional 166 shares during the last quarter. Finally, Silver Oak Securities Incorporated raised its holdings in Arch Capital Group by 19.2% in the 1st quarter. Silver Oak Securities Incorporated now owns 6,928 shares of the insurance provider's stock valued at $659,000 after acquiring an additional 1,115 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Insider Transactions at Arch Capital Group

In other news, insider John M. Pasquesi sold 75,060 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $94.01, for a total transaction of $7,056,390.60. Following the sale, the insider now owns 579,218 shares of the company's stock, valued at approximately $54,452,284.18. This represents a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Louis T. Petrillo sold 16,650 shares of the company's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $94.53, for a total value of $1,573,924.50. Following the sale, the insider now directly owns 140,023 shares in the company, valued at $13,236,374.19. This represents a 10.63% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,976 shares of company stock valued at $10,531,038. 4.20% of the stock is currently owned by company insiders.

Arch Capital Group Stock Down 0.1%

NASDAQ:ACGL opened at $90.17 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16. The stock's fifty day moving average is $92.61 and its two-hundred day moving average is $92.37. Arch Capital Group Ltd. has a 52 week low of $82.49 and a 52 week high of $116.47. The stock has a market capitalization of $33.79 billion, a price-to-earnings ratio of 9.24, a price-to-earnings-growth ratio of 6.23 and a beta of 0.53.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The insurance provider reported $1.54 EPS for the quarter, missing analysts' consensus estimates of $1.59 by ($0.05). Arch Capital Group had a return on equity of 15.79% and a net margin of 20.72%. The firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same quarter last year, the company earned $2.45 earnings per share. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. Research analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on ACGL. JMP Securities reiterated a "market outperform" rating and issued a $125.00 price objective on shares of Arch Capital Group in a report on Wednesday, April 30th. Jefferies Financial Group cut Arch Capital Group from a "buy" rating to a "hold" rating and decreased their price objective for the company from $106.00 to $100.00 in a report on Tuesday, June 10th. Wells Fargo & Company upped their price objective on Arch Capital Group from $106.00 to $108.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Barclays decreased their price objective on Arch Capital Group from $100.00 to $93.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. Finally, UBS Group upped their price objective on Arch Capital Group to $124.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Arch Capital Group presently has a consensus rating of "Moderate Buy" and an average price target of $114.63.

About Arch Capital Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.