Sequoia Financial Advisors LLC raised its stake in Arch Capital Group Ltd. (NASDAQ:ACGL – Free Report) by 29.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,100 shares of the insurance provider’s stock after acquiring an additional 10,562 shares during the period. Sequoia Financial Advisors LLC’s holdings in Arch Capital Group were worth $4,474,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. National Pension Service boosted its stake in Arch Capital Group by 3.5% in the 2nd quarter. National Pension Service now owns 719,128 shares of the insurance provider’s stock worth $69,799,000 after purchasing an additional 24,546 shares in the last quarter. WINTON GROUP Ltd bought a new stake in Arch Capital Group during the 2nd quarter valued at about $4,625,000. Triad Investment Management purchased a new position in Arch Capital Group in the second quarter worth about $2,030,000. Cidel Asset Management Inc. purchased a new position in Arch Capital Group in the second quarter worth about $207,000. Finally, Squarepoint Ops LLC raised its holdings in Arch Capital Group by 2,311.0% in the second quarter. Squarepoint Ops LLC now owns 229,096 shares of the insurance provider’s stock worth $22,236,000 after buying an additional 219,594 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.
Insider Transactions at Arch Capital Group
In other Arch Capital Group news, CFO Francois Morin sold 11,010 shares of Arch Capital Group stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $99.32, for a total value of $1,093,513.20. Following the completion of the sale, the chief financial officer owned 184,826 shares of the company’s stock, valued at approximately $18,356,918.32. The trade was a 5.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.30% of the company’s stock.
Arch Capital Group Price Performance
Arch Capital Group (NASDAQ:ACGL – Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.09. Arch Capital Group had a net margin of 24.40% and a return on equity of 17.06%. The firm had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same period in the previous year, the company earned $2.58 earnings per share. As a group, analysts predict that Arch Capital Group Ltd. will post 9.44 EPS for the current year.
Wall Street Analyst Weigh In
A number of research firms have recently commented on ACGL. Atlantic Securities set a $126.00 price target on shares of Arch Capital Group in a report on Wednesday, July 15th. Mizuho boosted their price objective on shares of Arch Capital Group from $101.00 to $104.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Arch Capital Group in a research report on Thursday, August 13th. Royal Bank Of Canada reiterated an “outperform” rating and set a $120.00 target price (up from $115.00) on shares of Arch Capital Group in a research note on Thursday, July 30th. Finally, Cantor Fitzgerald increased their target price on Arch Capital Group from $102.00 to $110.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $111.11.
Check Out Our Latest Research Report on Arch Capital Group
Arch Capital Group Profile
Arch Capital Group Ltd. is a Bermuda-based insurance and financial services company that operates through a global network of subsidiaries. Listed on the Nasdaq under the symbol ACGL, the company provides specialty insurance, reinsurance and mortgage insurance products to businesses, institutions and individuals.
Arch’s insurance operations offer coverage across property, casualty and specialty lines, including professional liability, marine, aviation, energy, construction, accident and health, and other complex or customized risks.
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