Wakefield Asset Management LLLP bought a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,708 shares of the insurance provider’s stock, valued at approximately $152,000.

Several other large investors have also recently bought and sold shares of ACGL. JPMorgan Chase & Co. boosted its holdings in Arch Capital Group by 14.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 342,236 shares of the insurance provider’s stock valued at $10,202,000 after acquiring an additional 44,162 shares during the period. Legal & General Group Plc boosted its stake in shares of Arch Capital Group by 8.1% in the 3rd quarter. Legal & General Group Plc now owns 2,303,601 shares of the insurance provider’s stock valued at $68,626,000 after buying an additional 171,958 shares during the period. Vanguard Group Inc boosted its stake in shares of Arch Capital Group by 0.4% in the 3rd 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. Oakbrook Investments LLC boosted its stake in shares of Arch Capital Group by 71.1% in the 4th quarter. Oakbrook Investments LLC now owns 16,600 shares of the insurance provider’s stock valued at $444,000 after buying an additional 6,900 shares during the period. Finally, Bank of Montreal Can boosted its stake in shares of Arch Capital Group by 9.6% in the 4th quarter. Bank of Montreal Can now owns 306,024 shares of the insurance provider’s stock valued at $8,177,000 after buying an additional 26,689 shares during the period. Institutional investors own 81.04% of the company’s stock.

Several brokerages have recently issued reports on ACGL. Zacks Investment Research cut Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. BidaskClub cut Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st. Wells Fargo & Co reiterated a “hold” rating and issued a $32.00 price objective on shares of Arch Capital Group in a research note on Tuesday, April 30th. ValuEngine upgraded Arch Capital Group from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Finally, JMP Securities reiterated a “hold” rating on shares of Arch Capital Group in a research note on Sunday, February 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Arch Capital Group has a consensus rating of “Hold” and an average price target of $31.00.

In other Arch Capital Group news, Director Yiorgos Lillikas sold 2,000 shares of Arch Capital Group stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $32.30, for a total transaction of $64,600.00. Following the transaction, the director now owns 51,214 shares of the company’s stock, valued at $1,654,212.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Francois Morin sold 2,648 shares of Arch Capital Group stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $32.14, for a total value of $85,106.72. The disclosure for this sale can be found here. Insiders have sold a total of 126,556 shares of company stock worth $4,226,122 in the last three months. Corporate insiders own 5.20% of the company’s stock.

Shares of NASDAQ ACGL opened at $33.89 on Wednesday. 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 Ltd. has a fifty-two week low of $24.79 and a fifty-two week high of $34.58. The stock has a market cap of $13.45 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 1.17 and a beta of 0.70.

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

COPYRIGHT VIOLATION WARNING: “Wakefield Asset Management LLLP Takes $152,000 Position in Arch Capital Group Ltd. (ACGL)” was posted by Marea Informative and is the sole property of of Marea Informative. If you are accessing this article on another site, it was stolen and reposted in violation of US and international copyright and trademark legislation. The legal version of this article can be read at https://www.mareainformativa.com/news/2019/05/15/wakefield-asset-management-lllp-takes-152000-position-in-arch-capital-group-ltd-acgl.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.

See Also: Reverse Stock Split

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.