Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Makes New Investment in Arch Capital Group Ltd. $ACGL

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,730 shares of the insurance provider’s stock, valued at approximately $764,000.

Several other large investors also recently modified their holdings of ACGL. Caitong International Asset Management Co. Ltd raised its stake in Arch Capital Group by 3,450.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 414 shares in the last quarter. TD Waterhouse Canada Inc. grew its stake in Arch Capital Group by 31.4% during the second quarter. TD Waterhouse Canada Inc. now owns 469 shares of the insurance provider’s stock worth $43,000 after buying an additional 112 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Arch Capital Group by 157.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider’s stock valued at $65,000 after buying an additional 412 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Arch Capital Group in the 2nd quarter valued at approximately $73,000. Finally, CYBER HORNET ETFs LLC acquired a new position in shares of Arch Capital Group in the 2nd quarter valued at approximately $87,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Royal Bank Of Canada set a $108.00 price target on shares of Arch Capital Group and gave the stock an “outperform” rating in a research report on Monday, November 24th. Barclays set a $104.00 target price on Arch Capital Group and gave the company an “equal weight” rating in a report on Thursday. Citigroup reiterated a “market outperform” rating on shares of Arch Capital Group in a research note on Tuesday, October 28th. Wells Fargo & Company dropped their price objective on Arch Capital Group from $111.00 to $106.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $98.00 price objective on shares of Arch Capital Group in a research note on Tuesday, October 28th. Eight investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $106.60.

Arch Capital Group Stock Down 2.0%

Shares of ACGL opened at $93.24 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.55 and a current ratio of 0.55. Arch Capital Group Ltd. has a 52 week low of $82.44 and a 52 week high of $97.60. The stock has a market capitalization of $33.81 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 2.14 and a beta of 0.45. The stock has a fifty day moving average of $93.39 and a 200-day moving average of $90.87.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $1.01. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $4.39 billion. Arch Capital Group had a return on equity of 16.38% and a net margin of 20.96%.During the same quarter in the previous year, the company posted $1.99 EPS. As a group, sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Insider Activity

In related news, insider John M. Pasquesi sold 8,800 shares of Arch Capital Group stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $94.17, for a total transaction of $828,696.00. Following the sale, the insider directly owned 289,556 shares in the company, valued at $27,267,488.52. This trade represents a 2.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Francois Morin sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $94.62, for a total transaction of $756,960.00. Following the sale, the chief financial officer directly owned 266,681 shares in the company, valued at $25,233,356.22. The trade was a 2.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 220,666 shares of company stock worth $20,728,673. Company insiders own 4.10% of the company’s stock.

About Arch Capital Group

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.