Benjamin F. Edwards & Company Inc. Has $847,000 Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Benjamin F. Edwards & Company Inc. reduced its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 26.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,400 shares of the insurance provider’s stock after selling 2,970 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Arch Capital Group were worth $847,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ACGL. Vanguard Group Inc. raised its holdings in Arch Capital Group by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 40,858,890 shares of the insurance provider’s stock valued at $3,776,996,000 after acquiring an additional 104,008 shares in the last quarter. Capital World Investors increased its holdings in Arch Capital Group by 0.6% in the 4th quarter. Capital World Investors now owns 10,611,092 shares of the insurance provider’s stock valued at $788,086,000 after buying an additional 58,862 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Arch Capital Group by 4.4% during the 2nd quarter. Principal Financial Group Inc. now owns 7,100,952 shares of the insurance provider’s stock worth $716,415,000 after acquiring an additional 300,716 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Arch Capital Group by 1.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,907,122 shares of the insurance provider’s stock valued at $546,054,000 after acquiring an additional 99,329 shares in the last quarter. Finally, Capital International Investors raised its position in Arch Capital Group by 61.1% in the first quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock worth $380,167,000 after purchasing an additional 1,560,173 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their price objective 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. Evercore ISI boosted their target price on shares of Arch Capital Group from $100.00 to $104.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 31st. TD Cowen increased their price target on shares of Arch Capital Group from $116.00 to $138.00 and gave the company a “buy” rating in a research note on Friday. Bank of America dropped their price objective on shares of 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. Finally, Wells Fargo & Company decreased their price objective on Arch Capital Group from $111.00 to $110.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $113.73.

Insider Buying and Selling at Arch Capital Group

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 approximately $22,723,476.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.20% of the company’s stock.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $113.66 on Tuesday. The stock has a market cap of $42.74 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 2.07 and a beta of 0.60. The stock has a 50-day moving average of $104.48 and a 200-day moving average of $99.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.60. Arch Capital Group Ltd. has a one year low of $72.85 and a one year high of $114.69.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the business posted $1.92 earnings per share. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, sell-side analysts expect that Arch Capital Group Ltd. will post 9.01 earnings per share for the current year.

About Arch Capital Group

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.