Rodgers & Associates LTD Lowers Stock Position in Arch Capital Group Ltd. $ACGL

Rodgers & Associates LTD lessened its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 17.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 9,196 shares of the insurance provider’s stock after selling 2,000 shares during the period. Rodgers & Associates LTD’s holdings in Arch Capital Group were worth $837,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Harbour Investments Inc. lifted its position in shares of Arch Capital Group by 8.4% in the 1st quarter. Harbour Investments Inc. now owns 1,431 shares of the insurance provider’s stock worth $138,000 after purchasing an additional 111 shares during the period. Resonant Capital Advisors LLC raised its holdings in Arch Capital Group by 1.7% in the first quarter. Resonant Capital Advisors LLC now owns 6,672 shares of the insurance provider’s stock worth $642,000 after purchasing an additional 113 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in Arch Capital Group by 0.9% in the first quarter. Venturi Wealth Management LLC now owns 13,228 shares of the insurance provider’s stock worth $1,272,000 after purchasing an additional 115 shares in the last quarter. Hemington Wealth Management raised its holdings in Arch Capital Group by 27.7% in the first quarter. Hemington Wealth Management now owns 548 shares of the insurance provider’s stock worth $52,000 after purchasing an additional 119 shares in the last quarter. Finally, Horizon Advisory Services Inc. raised its holdings in Arch Capital Group by 4.2% in the first quarter. Horizon Advisory Services Inc. now owns 2,996 shares of the insurance provider’s stock worth $288,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wells Fargo & Company boosted their target price on shares of Arch Capital Group from $107.00 to $111.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Barclays set a $99.00 target price on shares of Arch Capital Group and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. Wolfe Research assumed coverage on shares of Arch Capital Group in a report on Monday, September 15th. They issued a “peer perform” rating for the company. Citigroup assumed coverage on shares of Arch Capital Group in a report on Wednesday, August 13th. They issued a “buy” rating and a $113.00 target price for the company. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Arch Capital Group in a report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $108.71.

Insider Buying and Selling

In related news, insider Maamoun Rajeh sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total value of $941,500.00. Following the sale, the insider owned 433,589 shares in the company, valued at $40,822,404.35. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.20% of the stock is currently owned by corporate insiders.

Arch Capital Group Stock Performance

ACGL opened at $86.51 on Friday. Arch Capital Group Ltd. has a 52-week low of $82.49 and a 52-week high of $109.61. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16. The company has a market cap of $32.29 billion, a P/E ratio of 8.93, a price-to-earnings-growth ratio of 4.99 and a beta of 0.47. The firm’s 50-day moving average price is $90.67 and its 200-day moving average price is $90.88.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.28. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.29 billion. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. During the same quarter in the prior year, the company posted $2.57 earnings per share. As a group, equities analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal 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.