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

Amalgamated Bank cut its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 8.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,286 shares of the insurance provider's stock after selling 9,744 shares during the period. Amalgamated Bank's holdings in Arch Capital Group were worth $7,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Arch Capital Group in the fourth quarter worth approximately $27,000. Larson Financial Group LLC purchased a new stake in shares of Arch Capital Group in the fourth quarter worth approximately $30,000. CVA Family Office LLC purchased a new stake in shares of Arch Capital Group in the fourth quarter worth approximately $47,000. Covestor Ltd raised its holdings in shares of Arch Capital Group by 342.9% in the third quarter. Covestor Ltd now owns 899 shares of the insurance provider's stock worth $72,000 after buying an additional 696 shares during the period. Finally, Operose Advisors LLC purchased a new stake in shares of Arch Capital Group in the third quarter worth approximately $75,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. StockNews.com upgraded Arch Capital Group from a "hold" rating to a "buy" rating in a report on Wednesday. JMP Securities increased their price target on Arch Capital Group from $100.00 to $110.00 and gave the stock a "market outperform" rating in a report on Tuesday, April 30th. Bank of America increased their price target on Arch Capital Group from $105.00 to $109.00 and gave the stock a "buy" rating in a report on Tuesday, April 30th. Evercore ISI increased their price objective on Arch Capital Group from $98.00 to $100.00 and gave the stock an "in-line" rating in a research note on Tuesday, April 30th. Finally, Citigroup dropped their price objective on Arch Capital Group from $91.00 to $89.00 and set a "neutral" rating on the stock in a research note on Monday, January 22nd. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $100.67.

Arch Capital Group Stock Down 0.8 %

NASDAQ ACGL traded down $0.76 during midday trading on Friday, hitting $94.41. 1,696,539 shares of the company traded hands, compared to its average volume of 1,731,061. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.59 and a quick ratio of 0.57. The company has a market cap of $35.42 billion, a PE ratio of 7.45, a price-to-earnings-growth ratio of 1.12 and a beta of 0.57. The company's 50-day simple moving average is $91.15 and its 200-day simple moving average is $84.76. Arch Capital Group Ltd. has a 52 week low of $69.05 and a 52 week high of $96.58.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.39. The business had revenue of $4.09 billion for the quarter, compared to analysts' expectations of $3.77 billion. Arch Capital Group had a return on equity of 21.85% and a net margin of 33.65%. The business's revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.73 EPS. As a group, equities research analysts forecast that Arch Capital Group Ltd. will post 8.43 earnings per share for the current year.

Insider Transactions at Arch Capital Group

In other news, insider Nicolas Papadopoulo sold 60,000 shares of the firm's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $87.52, for a total value of $5,251,200.00. Following the completion of the sale, the insider now owns 651,931 shares of the company's stock, valued at approximately $57,057,001.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Nicolas Papadopoulo sold 60,000 shares of the firm's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $87.52, for a total value of $5,251,200.00. Following the completion of the sale, the insider now owns 651,931 shares of the company's stock, valued at approximately $57,057,001.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Maamoun Rajeh sold 50,000 shares of the firm's stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $87.48, for a total value of $4,374,000.00. Following the completion of the sale, the chief executive officer now directly owns 336,170 shares of the company's stock, valued at approximately $29,408,151.60. The disclosure for this sale can be found here. Insiders sold 135,689 shares of company stock valued at $11,872,217 in the last quarter. 4.20% of the stock is currently owned by corporate insiders.

Arch Capital Group Company 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.