Bleakley Financial Group LLC Boosts Stake in Arch Capital Group Ltd. $ACGL

Bleakley Financial Group LLC boosted its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 7.3% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,293 shares of the insurance provider’s stock after buying an additional 901 shares during the quarter. Bleakley Financial Group LLC’s holdings in Arch Capital Group were worth $1,210,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ACGL. Bartlett & CO. Wealth Management LLC purchased a new stake in Arch Capital Group in the 1st quarter valued at approximately $27,000. Meeder Asset Management Inc. lifted its stake in Arch Capital Group by 116.3% in the 1st quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider’s stock valued at $27,000 after buying an additional 150 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in Arch Capital Group in the 1st quarter valued at approximately $31,000. Zions Bancorporation National Association UT purchased a new stake in Arch Capital Group in the 1st quarter valued at approximately $37,000. Finally, Hemington Wealth Management lifted its stake in Arch Capital Group by 27.7% in the 1st quarter. Hemington Wealth Management now owns 548 shares of the insurance provider’s stock valued at $52,000 after buying an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. UBS Group reiterated a “buy” rating and issued a $118.00 price target (down from $124.00) on shares of Arch Capital Group in a report on Monday, August 4th. Keefe, Bruyette & Woods boosted their price target on Arch Capital Group from $102.00 to $103.00 and gave the company a “market perform” rating in a report on Thursday, August 14th. Wells Fargo & Company boosted their price target on Arch Capital Group from $107.00 to $111.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Citigroup assumed coverage on Arch Capital Group in a report on Wednesday, August 13th. They issued a “buy” rating and a $113.00 price target for the company. Finally, Wolfe Research assumed coverage on Arch Capital Group in a report on Monday, September 15th. They issued a “peer perform” rating for the company. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $108.71.

Arch Capital Group Trading Down 0.4%

ACGL stock opened at $87.15 on Friday. The company has a market cap of $32.53 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 5.05 and a beta of 0.47. 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 business has a fifty day simple moving average of $90.42 and a 200-day simple moving average of $90.80. Arch Capital Group Ltd. has a 52 week low of $82.49 and a 52 week high of $107.19.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.28. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.29 billion. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%.During the same period in the prior year, the firm posted $2.57 EPS. On average, equities research analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Insider Activity at Arch Capital Group

In other news, insider Maamoun Rajeh sold 10,000 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total transaction of $941,500.00. Following the completion of the sale, the insider directly owned 433,589 shares in the company, valued at $40,822,404.35. This represents a 2.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.20% of the stock is currently owned by insiders.

Arch Capital Group 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.