Bradley Foster & Sargent Inc. CT Reduces Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Bradley Foster & Sargent Inc. CT reduced its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 5.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,963 shares of the insurance provider’s stock after selling 175 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Arch Capital Group were worth $299,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ACGL. Mutual of America Capital Management LLC boosted its stake in Arch Capital Group by 33.7% during the 2nd quarter. Mutual of America Capital Management LLC now owns 80,411 shares of the insurance provider’s stock worth $8,113,000 after purchasing an additional 20,250 shares during the period. Axxcess Wealth Management LLC boosted its stake in shares of Arch Capital Group by 5.1% during the second quarter. Axxcess Wealth Management LLC now owns 64,666 shares of the insurance provider’s stock worth $6,524,000 after buying an additional 3,120 shares during the period. Denali Advisors LLC increased its position in Arch Capital Group by 207.6% in the 2nd quarter. Denali Advisors LLC now owns 7,120 shares of the insurance provider’s stock valued at $718,000 after acquiring an additional 4,805 shares during the period. Edgestream Partners L.P. acquired a new position in Arch Capital Group in the 2nd quarter valued at about $1,077,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Arch Capital Group during the second quarter worth approximately $4,167,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ACGL has been the subject of a number of analyst reports. Wells Fargo & Company cut their price objective on shares of Arch Capital Group from $111.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Arch Capital Group from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Keefe, Bruyette & Woods increased their target price on Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Roth Mkm raised their price target on Arch Capital Group from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Bank of America cut their price objective on Arch Capital Group from $119.00 to $118.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arch Capital Group currently has an average rating of “Moderate Buy” and a consensus target price of $110.93.

Insider Activity at Arch Capital Group

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

Arch Capital Group Trading Down 1.4 %

Shares of Arch Capital Group stock opened at $111.42 on Friday. Arch Capital Group Ltd. has a 1 year low of $72.85 and a 1 year high of $114.69. 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 50 day moving average price of $103.53 and a 200 day moving average price of $98.62. The company has a market capitalization of $41.84 billion, a P/E ratio of 8.79, a P/E/G ratio of 2.00 and a beta of 0.60.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data 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 business had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.89 billion. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The business’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.92 earnings per share. Sell-side analysts anticipate that Arch Capital Group Ltd. will post 9.01 EPS for the current fiscal year.

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.