Confluence Investment Management LLC Sells 18,632 Shares of Arch Capital Group Ltd. $ACGL

Confluence Investment Management LLC decreased its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 5.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 315,201 shares of the insurance provider’s stock after selling 18,632 shares during the quarter. Confluence Investment Management LLC’s holdings in Arch Capital Group were worth $29,112,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. QRG Capital Management Inc. raised its holdings in Arch Capital Group by 11.0% in the 2nd quarter. QRG Capital Management Inc. now owns 43,515 shares of the insurance provider’s stock valued at $4,224,000 after acquiring an additional 4,296 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Arch Capital Group by 29.7% in the second quarter. Sequoia Financial Advisors LLC now owns 46,100 shares of the insurance provider’s stock valued at $4,474,000 after purchasing an additional 10,562 shares in the last quarter. National Pension Service grew its position in shares of Arch Capital Group by 3.5% in the second quarter. National Pension Service now owns 719,128 shares of the insurance provider’s stock valued at $69,799,000 after purchasing an additional 24,546 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Arch Capital Group in the second quarter valued at approximately $4,625,000. Finally, Triad Investment Management acquired a new stake in shares of Arch Capital Group in the second quarter valued at approximately $2,030,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arch Capital Group

In other news, CFO Francois Morin sold 11,010 shares of the business’s 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 sale, the chief financial officer directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.30% of the stock is currently owned by corporate insiders.

Arch Capital Group Trading Up 1.7%

NASDAQ:ACGL traded up $1.57 on Thursday, reaching $93.93. The company’s stock had a trading volume of 1,579,539 shares, compared to its average volume of 2,346,660. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $107.08. The stock has a 50 day moving average price of $98.41 and a 200 day moving average price of $96.49. The firm has a market cap of $32.05 billion, a price-to-earnings ratio of 7.35, a price-to-earnings-growth ratio of 4.68 and a beta of 0.30. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.23.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.09. The business had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Arch Capital Group had a return on equity of 17.06% and a net margin of 24.40%.During the same period in the prior year, the business posted $2.58 EPS. On average, equities analysts anticipate that Arch Capital Group Ltd. will post 9.44 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Keefe, Bruyette & Woods dropped their target price 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. Morgan Stanley lifted their price target on Arch Capital Group from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Mizuho set a $100.00 price target on shares of Arch Capital Group and gave the company a “neutral” rating in a research report on Wednesday, September 16th. Wells Fargo & Company raised their price objective on shares of Arch Capital Group from $114.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Finally, Cantor Fitzgerald lifted their target price on shares of Arch Capital Group from $102.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Arch Capital Group has an average rating of “Hold” and an average price target of $110.82.

Arch Capital Group Company 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.