Pinebridge Investments L.P. Takes $4.34 Million Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

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Pinebridge Investments L.P. bought a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 117,043 shares of the insurance provider’s stock, valued at approximately $4,340,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Commonwealth Bank of Australia grew its holdings in Arch Capital Group by 0.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 38,525 shares of the insurance provider’s stock worth $1,423,000 after acquiring an additional 309 shares in the last quarter. LS Investment Advisors LLC boosted its holdings in shares of Arch Capital Group by 4.3% in the 2nd quarter. LS Investment Advisors LLC now owns 7,780 shares of the insurance provider’s stock valued at $288,000 after buying an additional 318 shares in the last quarter. IFM Investors Pty Ltd boosted its holdings in shares of Arch Capital Group by 1.2% in the 2nd quarter. IFM Investors Pty Ltd now owns 28,017 shares of the insurance provider’s stock valued at $1,039,000 after buying an additional 336 shares in the last quarter. ETF Managers Group LLC boosted its holdings in shares of Arch Capital Group by 9.9% in the 1st quarter. ETF Managers Group LLC now owns 5,017 shares of the insurance provider’s stock valued at $162,000 after buying an additional 451 shares in the last quarter. Finally, BB&T Securities LLC boosted its holdings in shares of Arch Capital Group by 8.4% in the 2nd quarter. BB&T Securities LLC now owns 8,656 shares of the insurance provider’s stock valued at $320,000 after buying an additional 669 shares in the last quarter. 79.65% of the stock is currently owned by institutional investors and hedge funds.

In related news, CEO Marc Grandisson sold 78,300 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $40.05, for a total value of $3,135,915.00. Following the completion of the transaction, the chief executive officer now directly owns 92,309 shares of the company’s stock, valued at approximately $3,696,975.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Francois Morin sold 8,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $39.42, for a total transaction of $315,360.00. Following the completion of the transaction, the chief financial officer now directly owns 37,815 shares of the company’s stock, valued at $1,490,667.30. The disclosure for this sale can be found here. Insiders sold a total of 141,300 shares of company stock valued at $5,619,725 over the last ninety days. 5.20% of the stock is currently owned by insiders.

Shares of Arch Capital Group stock traded up $0.04 during midday trading on Friday, hitting $40.48. The company had a trading volume of 896,791 shares, compared to its average volume of 1,140,381. The stock has a market cap of $16.38 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 1.43 and a beta of 0.64. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.27. The company has a fifty day simple moving average of $39.44 and a 200 day simple moving average of $35.62. Arch Capital Group Ltd. has a 12-month low of $24.79 and a 12-month high of $41.57.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Monday, July 29th. The insurance provider reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.08. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.24 billion. Arch Capital Group had a net margin of 20.48% and a return on equity of 10.58%. Arch Capital Group’s revenue was up 11.2% on a year-over-year basis. During the same period last year, the firm posted $0.59 EPS. As a group, analysts expect that Arch Capital Group Ltd. will post 2.82 EPS for the current year.

ACGL has been the topic of a number of recent analyst reports. Barclays set a $47.00 price target on shares of Arch Capital Group and gave the company a “buy” rating in a report on Monday, August 12th. MKM Partners raised their price target on shares of Arch Capital Group from $40.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. ValuEngine cut shares of Arch Capital Group from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Buckingham Research raised their price target on shares of Arch Capital Group from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday. Finally, UBS Group raised their price target on shares of Arch Capital Group from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $39.04.

Arch Capital Group Profile

Arch Capital Group Ltd., together with its subsidiaries, provides property, casualty, and mortgage insurance and reinsurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; collateral protection, debt cancellation, and service contract reimbursement products; 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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Institutional Ownership by Quarter for Arch Capital Group (NASDAQ:ACGL)

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