Connable Office Inc. Sells 614 Shares of Arch Capital Group Ltd. (ACGL)

Connable Office Inc. lowered its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 3.8% in the 1st quarter, HoldingsChannel reports. The fund owned 15,511 shares of the insurance provider’s stock after selling 614 shares during the period. Connable Office Inc.’s holdings in Arch Capital Group were worth $501,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of Arch Capital Group by 14.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 342,236 shares of the insurance provider’s stock worth $10,202,000 after acquiring an additional 44,162 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Arch Capital Group by 8.1% during the 3rd quarter. Legal & General Group Plc now owns 2,303,601 shares of the insurance provider’s stock worth $68,626,000 after acquiring an additional 171,958 shares during the last quarter. Vanguard Group Inc increased its holdings in shares of Arch Capital Group by 0.4% during the 3rd quarter. Vanguard Group Inc now owns 33,874,589 shares of the insurance provider’s stock worth $1,009,802,000 after acquiring an additional 144,152 shares during the last quarter. Oakbrook Investments LLC increased its holdings in shares of Arch Capital Group by 71.1% during the 4th quarter. Oakbrook Investments LLC now owns 16,600 shares of the insurance provider’s stock worth $444,000 after acquiring an additional 6,900 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Arch Capital Group by 9.6% during the 4th quarter. Bank of Montreal Can now owns 306,024 shares of the insurance provider’s stock worth $8,177,000 after acquiring an additional 26,689 shares during the last quarter. Institutional investors own 81.04% of the company’s stock.

ACGL has been the topic of a number of recent analyst reports. ValuEngine raised Arch Capital Group from a “sell” rating to a “hold” rating in a report on Friday, March 15th. BidaskClub lowered Arch Capital Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 13th. JMP Securities reissued a “hold” rating on shares of Arch Capital Group in a report on Sunday, February 17th. Zacks Investment Research raised Arch Capital Group from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Thursday, February 14th. Finally, Morgan Stanley set a $32.00 price objective on Arch Capital Group and gave the company a “hold” rating in a report on Friday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Arch Capital Group presently has an average rating of “Hold” and a consensus target price of $32.67.

In other news, CFO Francois Morin sold 2,648 shares of the stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $32.14, for a total transaction of $85,106.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Maamoun Rajeh sold 17,712 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $33.71, for a total value of $597,071.52. Following the sale, the chief executive officer now directly owns 330,031 shares in the company, valued at $11,125,345.01. The disclosure for this sale can be found here. Over the last three months, insiders have sold 243,250 shares of company stock worth $8,190,495. 5.20% of the stock is currently owned by insiders.

ACGL opened at $33.78 on Friday. The firm has a market cap of $13.94 billion, a PE ratio of 14.94, a P/E/G ratio of 1.21 and a beta of 0.70. Arch Capital Group Ltd. has a 52-week low of $24.79 and a 52-week high of $34.60. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.30.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Tuesday, April 30th. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.05. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.28 billion. Arch Capital Group had a return on equity of 10.24% and a net margin of 17.93%. Arch Capital Group’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.69 EPS. Equities analysts forecast that Arch Capital Group Ltd. will post 2.6 earnings per share for the current year.

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About Arch Capital Group

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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