Mediolanum International Funds Ltd Sells 20,848 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Mediolanum International Funds Ltd trimmed its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 10.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 180,120 shares of the insurance provider’s stock after selling 20,848 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Arch Capital Group were worth $20,394,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. UMB Bank n.a. bought a new stake in shares of Arch Capital Group in the 2nd quarter worth approximately $30,000. Baldwin Brothers LLC MA increased its stake in shares of Arch Capital Group by 50.7% in the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock worth $31,000 after buying an additional 104 shares during the period. Rothschild Investment LLC purchased a new position in shares of Arch Capital Group in the second quarter worth $35,000. LRI Investments LLC purchased a new position in shares of Arch Capital Group in the first quarter worth $40,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in shares of Arch Capital Group in the third quarter worth $46,000. 89.07% of the stock is currently owned by institutional investors.

Arch Capital Group Trading Down 0.8 %

ACGL stock traded down $0.88 during trading on Friday, hitting $106.16. The company had a trading volume of 217,919 shares, compared to its average volume of 1,626,573. The firm has a market capitalization of $39.92 billion, a P/E ratio of 7.53, a PEG ratio of 2.00 and a beta of 0.59. Arch Capital Group Ltd. has a 52-week low of $72.85 and a 52-week high of $116.47. The company has a 50 day simple moving average of $110.69 and a 200-day simple moving average of $102.24. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The business had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period last year, the business earned $1.92 EPS. The company’s revenue was up 10.3% compared to the same quarter last year. As a group, research analysts forecast that Arch Capital Group Ltd. will post 9.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ACGL. JPMorgan Chase & Co. upped their target price on shares of Arch Capital Group from $108.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Citigroup upped their price target on shares of Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. StockNews.com cut shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday. Bank of America upped their price target on shares of Arch Capital Group from $119.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group upped their price target on shares of Arch Capital Group from $114.00 to $134.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Arch Capital Group presently has a consensus rating of “Moderate Buy” and an average target price of $119.53.

Insider Buying and Selling

In related news, CFO Francois Morin sold 11,460 shares of Arch Capital Group stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the sale, the chief financial officer now directly owns 221,779 shares in the company, valued at $22,723,476.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.20% of the stock is owned by company insiders.

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.