Arch Capital Group Ltd. (ACGL) Holdings Boosted by Penn Capital Management Co. Inc.

Penn Capital Management Co. Inc. raised its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 184.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 123,117 shares of the insurance provider’s stock after purchasing an additional 79,794 shares during the quarter. Penn Capital Management Co. Inc.’s holdings in Arch Capital Group were worth $3,979,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Worldquant Millennium Quantitative Strategies LLC raised its stake in shares of Arch Capital Group by 24.0% in the fourth quarter. Worldquant Millennium Quantitative Strategies LLC now owns 52,952 shares of the insurance provider’s stock worth $1,415,000 after acquiring an additional 10,265 shares during the last quarter. Sumitomo Life Insurance Co. boosted its holdings in shares of Arch Capital Group by 2.5% in the fourth quarter. Sumitomo Life Insurance Co. now owns 42,282 shares of the insurance provider’s stock valued at $1,130,000 after buying an additional 1,036 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Arch Capital Group by 8.1% in the fourth quarter. Prudential Financial Inc. now owns 21,280 shares of the insurance provider’s stock valued at $569,000 after buying an additional 1,600 shares during the period. Vanguard Group Inc boosted its holdings in shares of Arch Capital Group by 0.4% in the third quarter. Vanguard Group Inc now owns 33,874,589 shares of the insurance provider’s stock valued at $1,009,802,000 after buying an additional 144,152 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Arch Capital Group by 9.3% in the fourth quarter. Legal & General Group Plc now owns 2,518,406 shares of the insurance provider’s stock valued at $67,256,000 after buying an additional 214,805 shares during the period. Hedge funds and other institutional investors own 81.04% of the company’s stock.

Several research analysts have recently weighed in on ACGL shares. ValuEngine upgraded shares of Arch Capital Group from a “sell” rating to a “hold” rating in a report on Friday, March 15th. BidaskClub cut shares of Arch Capital Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 13th. JMP Securities restated a “hold” rating on shares of Arch Capital Group in a report on Sunday, February 17th. Zacks Investment Research upgraded shares of Arch Capital Group from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Thursday, February 14th. Finally, Morgan Stanley set a $32.00 target price on shares of Arch Capital Group and gave the stock a “hold” rating in a report on Friday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $32.67.

In other news, CFO Francois Morin sold 2,648 shares of the stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $32.14, for a total value of $85,106.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Yiorgos Lillikas sold 2,000 shares of the stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $32.30, for a total transaction of $64,600.00. Following the completion of the transaction, the director now directly owns 51,214 shares in the company, valued at $1,654,212.20. The disclosure for this sale can be found here. Insiders have sold 243,250 shares of company stock worth $8,190,495 over the last ninety days. Insiders own 5.20% of the company’s stock.

NASDAQ ACGL opened at $33.78 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.54 and a current ratio of 0.54. Arch Capital Group Ltd. has a 1 year low of $24.79 and a 1 year high of $34.60. The firm has a market cap of $13.64 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 1.18 and a beta of 0.70.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.05. Arch Capital Group had a net margin of 17.93% and a return on equity of 10.24%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the firm posted $1.69 earnings per share. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. Equities research analysts anticipate that Arch Capital Group Ltd. will post 2.63 EPS for the current year.

WARNING: “Arch Capital Group Ltd. (ACGL) Holdings Boosted by Penn Capital Management Co. Inc.” was originally published by Baseball Daily News and is the sole property of of Baseball Daily News. If you are reading this report on another publication, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The legal version of this report can be viewed at https://www.baseballdailydigest.com/news/2019/05/20/arch-capital-group-ltd-acgl-holdings-boosted-by-penn-capital-management-co-inc.html.

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.

Featured Story: What Factors Can Affect Return on Equity?

Want to see what other hedge funds are holding ACGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arch Capital Group Ltd. (NASDAQ:ACGL).

Institutional Ownership by Quarter for Arch Capital Group (NASDAQ:ACGL)

Receive News & Ratings for Arch Capital Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arch Capital Group and related companies with MarketBeat.com's FREE daily email newsletter.