NewEdge Advisors LLC Buys 2,361 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

NewEdge Advisors LLC grew its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 18.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,914 shares of the insurance provider’s stock after buying an additional 2,361 shares during the quarter. NewEdge Advisors LLC’s holdings in Arch Capital Group were worth $1,505,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ACGL. Baldwin Brothers LLC MA increased its holdings in Arch Capital Group by 50.7% during the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 104 shares in the last quarter. Fidelis Capital Partners LLC grew its holdings in shares of Arch Capital Group by 3.1% during the second quarter. Fidelis Capital Partners LLC now owns 3,553 shares of the insurance provider’s stock worth $344,000 after buying an additional 106 shares in the last quarter. Sunbelt Securities Inc. raised its position in Arch Capital Group by 1.8% in the 1st quarter. Sunbelt Securities Inc. now owns 6,679 shares of the insurance provider’s stock valued at $617,000 after buying an additional 117 shares during the last quarter. Resonant Capital Advisors LLC lifted its stake in Arch Capital Group by 2.1% in the 1st quarter. Resonant Capital Advisors LLC now owns 5,802 shares of the insurance provider’s stock valued at $536,000 after acquiring an additional 118 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in Arch Capital Group by 40.3% during the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider’s stock worth $46,000 after acquiring an additional 131 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

ACGL has been the topic of a number of recent research reports. Roth Mkm lifted their price objective on shares of Arch Capital Group from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Citigroup lifted their price target on shares of Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Royal Bank of Canada increased their price objective on shares of Arch Capital Group from $108.00 to $112.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Keefe, Bruyette & Woods lifted their target price on Arch Capital Group from $120.00 to $121.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, TD Cowen upped their target price on Arch Capital Group from $116.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Arch Capital Group has a consensus rating of “Moderate Buy” and a consensus price target of $113.73.

Insider Buying and Selling at Arch Capital Group

In other news, CFO Francois Morin sold 11,460 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the transaction, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.20% of the company’s stock.

Arch Capital Group Stock Performance

ACGL opened at $114.86 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.60. The business has a fifty day simple moving average of $107.47 and a 200 day simple moving average of $100.52. Arch Capital Group Ltd. has a 1 year low of $72.85 and a 1 year high of $115.03. The company has a market capitalization of $43.19 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 2.06 and a beta of 0.59.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The company had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter in the previous year, the business posted $1.92 earnings per share. Arch Capital Group’s quarterly revenue was up 10.3% on a year-over-year basis. Research analysts expect that Arch Capital Group Ltd. will post 9.01 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.