Mediolanum International Funds Ltd Sells 105,003 Shares of Arch Capital Group Ltd. $ACGL

Mediolanum International Funds Ltd lessened its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 31.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 230,914 shares of the insurance provider’s stock after selling 105,003 shares during the period. Mediolanum International Funds Ltd’s holdings in Arch Capital Group were worth $20,856,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. MAI Capital Management grew its position in Arch Capital Group by 5.0% during the second quarter. MAI Capital Management now owns 5,401 shares of the insurance provider’s stock valued at $492,000 after buying an additional 258 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Arch Capital Group during the 2nd quarter worth $73,000. JPMorgan Chase & Co. grew its position in shares of Arch Capital Group by 4.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,830,301 shares of the insurance provider’s stock valued at $712,956,000 after acquiring an additional 359,710 shares during the period. DNB Asset Management AS increased its stake in shares of Arch Capital Group by 0.9% in the 2nd quarter. DNB Asset Management AS now owns 74,176 shares of the insurance provider’s stock worth $6,754,000 after purchasing an additional 626 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in Arch Capital Group in the 2nd quarter worth $955,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Barclays set a $99.00 price target on Arch Capital Group and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Cowen reissued a “buy” rating on shares of Arch Capital Group in a report on Monday, August 4th. Keefe, Bruyette & Woods lifted their price target on shares of Arch Capital Group from $102.00 to $103.00 and gave the company a “market perform” rating in a report on Thursday, August 14th. JPMorgan Chase & Co. raised their price objective on shares of Arch Capital Group from $110.00 to $111.00 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. Finally, Wolfe Research began coverage on Arch Capital Group in a report on Monday, September 15th. They set a “peer perform” rating on the stock. Seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $106.75.

Arch Capital Group Trading Up 0.8%

Shares of NASDAQ ACGL opened at $91.88 on Friday. Arch Capital Group Ltd. has a twelve month low of $82.44 and a twelve month high of $101.66. The company has a quick ratio of 0.56, a current ratio of 0.55 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $89.42 and a two-hundred day simple moving average of $90.45. The firm has a market cap of $33.32 billion, a PE ratio of 8.59, a price-to-earnings-growth ratio of 3.24 and a beta of 0.47.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $1.01. Arch Capital Group had a net margin of 20.96% and a return on equity of 16.38%. The company had revenue of $3.96 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same period in the prior year, the firm earned $1.99 earnings per share. Analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

About Arch Capital Group

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.