Colton Groome Financial Advisors LLC Takes Position in Arch Capital Group Ltd. $ACGL

Colton Groome Financial Advisors LLC bought a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 2,421 shares of the insurance provider’s stock, valued at approximately $220,000.

Several other institutional investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its stake in shares of Arch Capital Group by 30.5% during the 1st quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider’s stock worth $718,522,000 after purchasing an additional 1,743,945 shares during the period. Northern Trust Corp boosted its holdings in Arch Capital Group by 3.0% during the first quarter. Northern Trust Corp now owns 5,005,790 shares of the insurance provider’s stock worth $481,457,000 after buying an additional 144,986 shares in the last quarter. Madison Asset Management LLC grew its position in Arch Capital Group by 9.0% during the first quarter. Madison Asset Management LLC now owns 4,837,602 shares of the insurance provider’s stock valued at $465,281,000 after buying an additional 397,857 shares during the period. Egerton Capital UK LLP increased its holdings in Arch Capital Group by 8.5% in the first quarter. Egerton Capital UK LLP now owns 4,325,217 shares of the insurance provider’s stock valued at $415,999,000 after buying an additional 337,245 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Arch Capital Group by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,176,984 shares of the insurance provider’s stock worth $401,710,000 after acquiring an additional 26,160 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ACGL has been the topic of a number of analyst reports. Keefe, Bruyette & Woods raised their target price on Arch Capital Group from $102.00 to $103.00 and gave the company a “market perform” rating in a research report on Thursday, August 14th. Citigroup began coverage on Arch Capital Group in a report on Wednesday, August 13th. They issued a “buy” rating and a $113.00 price objective on the stock. Wolfe Research initiated coverage on Arch Capital Group in a research note on Monday, September 15th. They set a “peer perform” rating for the company. Wells Fargo & Company dropped their price target on shares of Arch Capital Group from $110.00 to $107.00 and set an “overweight” rating on the stock in a research note on Thursday, July 31st. Finally, Cowen reissued a “buy” rating on shares of Arch Capital Group in a report on Monday, August 4th. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Arch Capital Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.36.

Insiders Place Their Bets

In related news, insider Maamoun Rajeh sold 10,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $94.15, for a total transaction of $941,500.00. Following the completion of the sale, the insider owned 433,589 shares of the company’s stock, valued at approximately $40,822,404.35. This represents a 2.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.20% of the company’s stock.

Arch Capital Group Stock Down 1.3%

Shares of ACGL opened at $89.57 on Friday. The stock has a 50 day moving average price of $89.79 and a 200 day moving average price of $91.19. Arch Capital Group Ltd. has a one year low of $82.49 and a one year high of $116.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market capitalization of $33.43 billion, a price-to-earnings ratio of 9.24, a PEG ratio of 5.56 and a beta of 0.51.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.28. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. The company had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.29 billion. During the same quarter in the previous year, the company posted $2.57 EPS. Equities research analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

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.