Anchor Capital Advisors LLC Sells 14,995 Shares of Arch Capital Group Ltd. $ACGL

Anchor Capital Advisors LLC lowered its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 3.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 453,267 shares of the insurance provider’s stock after selling 14,995 shares during the period. Anchor Capital Advisors LLC owned about 0.12% of Arch Capital Group worth $41,270,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in ACGL. Meeder Asset Management Inc. grew its holdings 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 worth $27,000 after acquiring an additional 150 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in Arch Capital Group in the 1st quarter worth $37,000. Caitong International Asset Management Co. Ltd grew its holdings in Arch Capital Group by 3,450.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 414 shares during the last quarter. Hemington Wealth Management grew its holdings in Arch Capital Group by 27.7% in the 1st quarter. Hemington Wealth Management now owns 548 shares of the insurance provider’s stock worth $52,000 after acquiring an additional 119 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in Arch Capital Group by 157.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider’s stock worth $65,000 after acquiring an additional 412 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Insider Transactions at Arch Capital Group

In related news, insider Maamoun Rajeh sold 10,000 shares of Arch Capital Group 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 transaction, the insider directly owned 433,589 shares of the company’s stock, valued at $40,822,404.35. This trade represents a 2.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ACGL has been the topic of a number of recent analyst reports. Wolfe Research initiated coverage on shares of Arch Capital Group in a report on Monday, September 15th. They issued a “peer perform” rating on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Arch Capital Group in a report on Wednesday, October 8th. Barclays set a $99.00 price target on shares of Arch Capital Group and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. Cowen reaffirmed a “buy” rating on shares of Arch Capital Group in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Arch Capital Group from $110.00 to $111.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Eight 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $109.00.

Arch Capital Group Trading Up 0.1%

Shares of ACGL opened at $87.55 on Thursday. The firm’s 50-day moving average price is $89.50 and its 200-day moving average price is $90.47. The firm has a market capitalization of $32.68 billion, a price-to-earnings ratio of 8.19, a PEG ratio of 3.24 and a beta of 0.47. The company has a current ratio of 0.55, a quick ratio of 0.56 and a debt-to-equity ratio of 0.13. Arch Capital Group Ltd. has a 1-year low of $82.44 and a 1-year high of $103.17.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Monday, October 27th. The insurance provider reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $1.01. Arch Capital Group had a net margin of 20.96% and a return on equity of 16.38%. The company had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same period last year, the company posted $1.99 EPS. Sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current 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.