Amalgamated Bank Reduces Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

Amalgamated Bank lessened its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 3.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,055 shares of the insurance provider’s stock after selling 2,689 shares during the quarter. Amalgamated Bank’s holdings in Arch Capital Group were worth $7,301,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ACGL. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Arch Capital Group by 3.5% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 197,111 shares of the insurance provider’s stock valued at $18,203,000 after acquiring an additional 6,663 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Arch Capital Group by 5.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 111,229 shares of the insurance provider’s stock valued at $12,444,000 after purchasing an additional 5,614 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Arch Capital Group by 10.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 71,721 shares of the insurance provider’s stock valued at $8,024,000 after purchasing an additional 6,521 shares during the period. Pittenger & Anderson Inc. grew its position in shares of Arch Capital Group by 56.6% during the 4th quarter. Pittenger & Anderson Inc. now owns 6,720 shares of the insurance provider’s stock valued at $621,000 after purchasing an additional 2,430 shares in the last quarter. Finally, Metis Global Partners LLC increased its holdings in shares of Arch Capital Group by 26.6% in the third quarter. Metis Global Partners LLC now owns 25,465 shares of the insurance provider’s stock worth $2,849,000 after purchasing an additional 5,345 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

ACGL has been the topic of a number of recent analyst reports. Barclays lowered their price objective on Arch Capital Group from $120.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. JMP Securities reiterated a “market outperform” rating and set a $125.00 price target on shares of Arch Capital Group in a research report on Tuesday, February 11th. UBS Group decreased their price objective on shares of Arch Capital Group from $131.00 to $127.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. BMO Capital Markets lifted their target price on shares of Arch Capital Group from $98.00 to $104.00 and gave the company a “market perform” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company cut their price target on shares of Arch Capital Group from $107.00 to $106.00 and set an “overweight” rating for the company in a research note on Wednesday, February 12th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $117.19.

Arch Capital Group Stock Performance

Arch Capital Group stock opened at $89.57 on Thursday. The firm has a fifty day simple moving average of $91.94 and a two-hundred day simple moving average of $100.48. Arch Capital Group Ltd. has a twelve month low of $86.16 and a twelve month high of $116.47. The company has a market capitalization of $33.70 billion, a PE ratio of 8.00, a P/E/G ratio of 2.31 and a beta of 0.64. The company has a quick ratio of 0.58, a current ratio of 0.54 and a debt-to-equity ratio of 0.15.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Monday, February 10th. The insurance provider reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.36. Arch Capital Group had a return on equity of 17.96% and a net margin of 24.73%. During the same period last year, the firm posted $2.45 earnings per share. Research analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Arch Capital Group Company Profile

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; 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.