CIBC World Markets Inc. bought a new position in Arch Capital Group Ltd. (NASDAQ:ACGL) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,228 shares of the insurance provider’s stock, valued at approximately $208,000.

A number of other institutional investors have also recently modified their holdings of the stock. Profund Advisors LLC purchased a new stake in Arch Capital Group in the 1st quarter worth $232,000. US Bancorp DE lifted its stake in Arch Capital Group by 7.5% in the 1st quarter. US Bancorp DE now owns 9,998 shares of the insurance provider’s stock worth $948,000 after purchasing an additional 696 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Arch Capital Group by 8.4% in the 1st quarter. Bank of New York Mellon Corp now owns 581,508 shares of the insurance provider’s stock worth $55,109,000 after purchasing an additional 45,059 shares in the last quarter. Comerica Bank lifted its stake in Arch Capital Group by 2.7% in the 1st quarter. Comerica Bank now owns 5,310 shares of the insurance provider’s stock worth $519,000 after purchasing an additional 139 shares in the last quarter. Finally, World Asset Management Inc lifted its stake in Arch Capital Group by 2.2% in the 1st quarter. World Asset Management Inc now owns 4,885 shares of the insurance provider’s stock worth $463,000 after purchasing an additional 104 shares in the last quarter. 76.91% of the stock is owned by institutional investors.

Shares of Arch Capital Group Ltd. (NASDAQ ACGL) opened at 98.10 on Friday. Arch Capital Group Ltd. has a 12 month low of $76.47 and a 12 month high of $99.47. The stock has a market capitalization of $13.19 billion, a PE ratio of 17.84 and a beta of 0.67. The stock’s 50 day moving average is $96.62 and its 200 day moving average is $95.63.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.01. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.28 billion. Arch Capital Group had a net margin of 15.65% and a return on equity of 8.76%. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period last year, the firm posted $1.13 earnings per share. Analysts anticipate that Arch Capital Group Ltd. will post $5.37 earnings per share for the current fiscal year.

In other news, CEO Andrew Rippert sold 3,500 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $94.25, for a total value of $329,875.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Nicolas Papadopoulo sold 38,918 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $97.23, for a total transaction of $3,783,997.14. Following the completion of the transaction, the chief executive officer now directly owns 182,035 shares in the company, valued at $17,699,263.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 195,579 shares of company stock worth $18,756,983. Insiders own 6.60% of the company’s stock.

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ACGL has been the topic of several research analyst reports. Wells Fargo & Company reiterated a “hold” rating on shares of Arch Capital Group in a research note on Wednesday, June 14th. UBS AG decreased their price target on shares of Arch Capital Group from $114.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, September 19th. Keefe, Bruyette & Woods set a $100.00 price target on shares of Arch Capital Group and gave the stock a “hold” rating in a research note on Friday, August 11th. Zacks Investment Research cut shares of Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Finally, Buckingham Research initiated coverage on shares of Arch Capital Group in a research note on Monday, September 11th. They issued a “buy” rating and a $106.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $97.22.

About Arch Capital Group

Arch Capital Group Ltd. provides insurance, reinsurance and mortgage insurance. The Company provides a range of property, casualty and mortgage insurance and reinsurance lines. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The insurance segment’s product lines include construction and national accounts; excess and surplus casualty; lenders products; professional lines; programs; property, energy, marine and aviation; travel, accident and health, and other.

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

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