TD Asset Management Inc. Cuts Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

TD Asset Management Inc. decreased its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,120,849 shares of the insurance provider’s stock after selling 17,222 shares during the quarter. TD Asset Management Inc.’s holdings in Arch Capital Group were worth $41,561,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC lifted its stake in Arch Capital Group by 200.0% in the first quarter. Quadrant Capital Group LLC now owns 948 shares of the insurance provider’s stock valued at $29,000 after buying an additional 632 shares during the period. Optimum Investment Advisors raised its holdings in shares of Arch Capital Group by 333.3% in the 1st quarter. Optimum Investment Advisors now owns 1,300 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 1,000 shares in the last quarter. Wakefield Asset Management LLLP bought a new stake in shares of Arch Capital Group in the 1st quarter worth approximately $152,000. ETF Managers Group LLC raised 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 worth $162,000 after purchasing an additional 451 shares in the last quarter. Finally, Raymond James Trust N.A. bought a new stake in shares of Arch Capital Group in the 1st quarter worth approximately $233,000. 79.93% of the stock is currently owned by institutional investors.

In other Arch Capital Group news, Vice Chairman John M. Pasquesi sold 299,741 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $33.99, for a total transaction of $10,188,196.59. Following the completion of the transaction, the insider now owns 2,832 shares of the company’s stock, valued at $96,259.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Maamoun Rajeh sold 17,712 shares of the business’s stock in a transaction dated 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 owns 330,031 shares in the company, valued at $11,125,345.01. The disclosure for this sale can be found here. In the last three months, insiders have sold 325,453 shares of company stock valued at $11,100,628. Insiders own 5.20% of the company’s stock.

A number of research analysts recently commented on ACGL shares. Morgan Stanley set a $32.00 price target on Arch Capital Group and gave the company a “hold” rating in a research note on Friday, May 17th. BidaskClub raised Arch Capital Group from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. MKM Partners boosted their price target on Arch Capital Group from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Deutsche Bank raised Arch Capital Group from a “hold” rating to a “buy” rating and set a $35.35 price target for the company in a research note on Wednesday, June 26th. Finally, Buckingham Research downgraded Arch Capital Group from a “buy” rating to a “neutral” rating and set a $38.00 price target for the company. in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $37.91.

NASDAQ ACGL traded up $0.34 during trading on Thursday, hitting $38.67. 4,069 shares of the company’s stock were exchanged, compared to its average volume of 1,313,143. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market capitalization of $15.79 billion, a P/E ratio of 17.56, a PEG ratio of 1.38 and a beta of 0.65. Arch Capital Group Ltd. has a fifty-two week low of $24.79 and a fifty-two week high of $40.07. The firm’s 50 day moving average price is $38.18.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Monday, July 29th. The insurance provider reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.08. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.24 billion. Arch Capital Group had a return on equity of 10.58% and a net margin of 20.48%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.59 earnings per share. On average, equities analysts predict that Arch Capital Group Ltd. will post 2.82 earnings per share for the current year.

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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