Arch Capital Group Ltd. $ACGL Shares Bought by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC grew its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 199,335 shares of the insurance provider’s stock after acquiring an additional 488 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Arch Capital Group worth $18,149,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Arch Capital Group from $102.00 to $103.00 and gave the company a “market perform” rating in a research note on Thursday, August 14th. UBS Group reissued a “buy” rating and set a $118.00 target price (down from $124.00) on shares of Arch Capital Group in a research note on Monday, August 4th. Cantor Fitzgerald raised shares of Arch Capital Group to a “hold” rating in a research note on Wednesday, August 13th. Wells Fargo & Company boosted their target price on shares of Arch Capital Group from $107.00 to $111.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arch Capital Group in a research note on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $108.71.

Insider Transactions at Arch Capital Group

In related news, insider Maamoun Rajeh sold 10,000 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $94.15, for a total value of $941,500.00. Following the completion of the sale, the insider directly owned 433,589 shares in the company, valued at approximately $40,822,404.35. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 4.20% of the company’s stock.

Arch Capital Group Trading Up 0.3%

NASDAQ ACGL opened at $86.51 on Friday. Arch Capital Group Ltd. has a 1-year low of $82.49 and a 1-year high of $109.61. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $32.29 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 5.01 and a beta of 0.47. The firm’s fifty day simple moving average is $90.67 and its 200-day simple moving average is $90.84.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.28. The business 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 period in the prior year, the business posted $2.57 earnings per share. As a group, sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

About Arch Capital Group

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.