Summit Global Investments Sells 113,558 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Summit Global Investments lessened its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 96.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,448 shares of the insurance provider’s stock after selling 113,558 shares during the period. Summit Global Investments’ holdings in Arch Capital Group were worth $330,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Arch Capital Group during the fourth quarter valued at $27,000. Larson Financial Group LLC purchased a new position in Arch Capital Group during the 4th quarter valued at about $30,000. CVA Family Office LLC bought a new stake in shares of Arch Capital Group in the 4th quarter valued at about $47,000. Covestor Ltd boosted its stake in shares of Arch Capital Group by 342.9% during the third quarter. Covestor Ltd now owns 899 shares of the insurance provider’s stock valued at $72,000 after purchasing an additional 696 shares in the last quarter. Finally, Operose Advisors LLC purchased a new position in Arch Capital Group during the third quarter valued at approximately $75,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 25,689 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $87.47, for a total value of $2,247,016.83. Following the sale, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at $19,399,009.13. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Francois Morin sold 25,689 shares of Arch Capital Group stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $87.47, for a total transaction of $2,247,016.83. Following the completion of the transaction, the chief financial officer now directly owns 221,779 shares in the company, valued at $19,399,009.13. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Maamoun Rajeh sold 50,000 shares of the company’s stock in a transaction that occurred 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 owns 336,170 shares in the company, valued at approximately $29,408,151.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 135,689 shares of company stock worth $11,872,217. Company insiders own 4.20% of the company’s stock.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $94.41 on Monday. The business has a fifty day moving average of $91.15 and a 200 day moving average of $84.76. Arch Capital Group Ltd. has a 1 year low of $69.05 and a 1 year high of $96.58. 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 firm has a market capitalization of $35.42 billion, a price-to-earnings ratio of 7.45, a price-to-earnings-growth ratio of 1.12 and a beta of 0.57.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Monday, April 29th. The insurance provider reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.39. The firm had revenue of $4.09 billion during 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 company’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period last year, the business posted $1.73 earnings per share. As a group, research analysts expect that Arch Capital Group Ltd. will post 8.43 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on ACGL shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $98.00 target price on shares of Arch Capital Group in a research report on Friday, February 16th. JPMorgan Chase & Co. raised their price objective on Arch Capital Group from $88.00 to $92.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Bank of America boosted their target price on shares of Arch Capital Group from $105.00 to $109.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. StockNews.com upgraded shares of Arch Capital Group from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Finally, Roth Mkm reiterated a “buy” rating and set a $110.00 price objective on shares of Arch Capital Group in a research note on Tuesday, April 30th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $100.67.

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.