Confluence Investment Management LLC lowered its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL – Free Report) by 5.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 315,201 shares of the insurance provider’s stock after selling 18,632 shares during the quarter. Confluence Investment Management LLC owned 0.09% of Arch Capital Group worth $29,112,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in Arch Capital Group by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,173,885 shares of the insurance provider’s stock worth $400,643,000 after purchasing an additional 117,929 shares during the period. Madison Asset Management LLC acquired a new stake in Arch Capital Group during the second quarter worth about $368,808,000. Goldman Sachs Group Inc. raised its position in Arch Capital Group by 5.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,949,978 shares of the insurance provider’s stock valued at $282,962,000 after acquiring an additional 160,326 shares in the last quarter. First Trust Advisors LP lifted its holdings in Arch Capital Group by 319.5% in the first quarter. First Trust Advisors LP now owns 2,626,148 shares of the insurance provider’s stock valued at $252,084,000 after acquiring an additional 2,000,162 shares during the period. Finally, Capital International Investors lifted its holdings in Arch Capital Group by 1.4% in the fourth quarter. Capital International Investors now owns 1,917,867 shares of the insurance provider’s stock valued at $183,962,000 after acquiring an additional 26,226 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on ACGL shares. JPMorgan Chase & Co. raised their price objective on shares of Arch Capital Group from $116.00 to $118.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Citigroup reiterated a “market outperform” rating on shares of Arch Capital Group in a research report on Wednesday, July 29th. Royal Bank Of Canada reissued 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. Morgan Stanley lifted their price target on Arch Capital Group from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Finally, Keefe, Bruyette & Woods reduced their price target on Arch Capital Group from $102.00 to $99.00 and set a “market perform” rating for the company in a report on Wednesday, July 8th. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Arch Capital Group has a consensus rating of “Hold” and a consensus target price of $110.82.
Insider Buying and Selling at Arch Capital Group
In related news, CFO Francois Morin sold 11,010 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 184,826 shares of the company’s stock, valued at approximately $18,356,918.32. This trade represents a 5.62% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.30% of the stock is currently owned by company insiders.
Arch Capital Group Price Performance
NASDAQ ACGL traded up $1.57 on Thursday, hitting $93.93. The company had a trading volume of 1,579,539 shares, compared to its average volume of 2,346,660. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.57 and a quick ratio of 0.57. The company’s fifty day moving average price is $98.41 and its 200-day moving average price is $96.49. The company has a market capitalization of $32.05 billion, a PE ratio of 7.35, a PEG ratio of 4.68 and a beta of 0.30. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $107.08.
Arch Capital Group (NASDAQ:ACGL – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.09. The business had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.36 billion. Arch Capital Group had a net margin of 24.40% and a return on equity of 17.06%. During the same period last year, the firm posted $2.58 earnings per share. As a group, analysts predict that Arch Capital Group Ltd. will post 9.44 earnings per share for the current year.
Arch Capital Group Profile
Arch Capital Group Ltd. is a Bermuda-based insurance, reinsurance and mortgage insurance company whose shares trade on the Nasdaq under the symbol ACGL. The company was established in 1995 and has developed into a global provider of specialty risk-management products and services.
Through its insurance operations, Arch offers property, casualty, specialty, and accident and health coverage to businesses and other policyholders. Its reinsurance operations provide coverage and risk-transfer solutions to insurance companies across a range of property and casualty lines.
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