Raymond James & Associates Purchases 4,407 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Raymond James & Associates boosted its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 2.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 206,635 shares of the insurance provider’s stock after purchasing an additional 4,407 shares during the period. Raymond James & Associates owned about 0.06% of Arch Capital Group worth $23,118,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ACGL. UMB Bank n.a. acquired a new stake in shares of Arch Capital Group during the second quarter worth approximately $30,000. 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 valued at $31,000 after purchasing an additional 104 shares in the last quarter. Rothschild Investment LLC bought a new position in Arch Capital Group in the 2nd quarter valued at $35,000. LRI Investments LLC bought a new stake in shares of Arch Capital Group during the first quarter worth $38,000. Finally, Versant Capital Management Inc increased its stake in shares of Arch Capital Group by 40.3% in the second quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider’s stock valued at $46,000 after buying an additional 131 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on ACGL. Citigroup increased their price objective on shares of Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Jefferies Financial Group raised their price target on shares of Arch Capital Group from $114.00 to $134.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company upped their price objective on Arch Capital Group from $110.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. 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 note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Arch Capital Group from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $119.53.

Arch Capital Group Stock Up 0.0 %

Shares of NASDAQ ACGL opened at $107.04 on Friday. Arch Capital Group Ltd. has a 52-week low of $72.85 and a 52-week high of $116.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a market cap of $40.25 billion, a P/E ratio of 7.53, a P/E/G ratio of 2.00 and a beta of 0.59. The firm has a 50 day moving average price of $110.58 and a 200 day moving average price of $102.21.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.36. The company had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The firm’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.92 EPS. Analysts expect that Arch Capital Group Ltd. will post 9.06 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Francois Morin sold 11,460 shares of Arch Capital Group stock in a transaction dated Friday, August 16th. The stock was 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 owns 221,779 shares in the company, valued at $22,723,476.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.20% of the company’s stock.

Arch Capital Group Company 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.