Sequoia Financial Advisors LLC Purchases 10,562 Shares of Arch Capital Group Ltd. $ACGL

Sequoia Financial Advisors LLC lifted its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 29.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,100 shares of the insurance provider’s stock after purchasing an additional 10,562 shares during the period. Sequoia Financial Advisors LLC’s holdings in Arch Capital Group were worth $4,474,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Legal & General Group Plc raised its holdings in shares of Arch Capital Group by 4.3% during the fourth quarter. Legal & General Group Plc now owns 2,944,169 shares of the insurance provider’s stock valued at $282,405,000 after acquiring an additional 121,090 shares in the last quarter. National Pension Service boosted its holdings in Arch Capital Group by 8.5% in the fourth quarter. National Pension Service now owns 683,272 shares of the insurance provider’s stock valued at $65,539,000 after acquiring an additional 53,661 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Arch Capital Group by 295.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 50,073 shares of the insurance provider’s stock valued at $4,860,000 after purchasing an additional 37,416 shares during the period. Banque Cantonale Vaudoise increased its position in Arch Capital Group by 58.3% during the 4th quarter. Banque Cantonale Vaudoise now owns 45,383 shares of the insurance provider’s stock valued at $4,353,000 after purchasing an additional 16,713 shares during the period. Finally, Allstate Corp raised its holdings in Arch Capital Group by 113.8% in the 4th quarter. Allstate Corp now owns 27,407 shares of the insurance provider’s stock worth $2,629,000 after purchasing an additional 14,586 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $96.09 on Friday. The company’s fifty day moving average price is $99.84 and its 200-day moving average price is $96.71. The stock has a market cap of $32.79 billion, a PE ratio of 7.51, a price-to-earnings-growth ratio of 4.73 and a beta of 0.30. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.23. Arch Capital Group Ltd. has a 12 month low of $82.44 and a 12 month high of $107.08.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.09. Arch Capital Group had a net margin of 24.40% and a return on equity of 17.06%. The company had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same period last year, the business earned $2.58 EPS. On average, equities analysts expect that Arch Capital Group Ltd. will post 9.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arch Capital Group news, CFO Francois Morin sold 11,010 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $99.32, for a total value of $1,093,513.20. Following the sale, the chief financial officer owned 184,826 shares in the company, valued at approximately $18,356,918.32. This represents a 5.62% 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 link. Company insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ACGL shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $120.00 target price (up from $115.00) on shares of Arch Capital Group in a research report on Thursday, July 30th. Cantor Fitzgerald boosted their price target on shares of Arch Capital Group from $102.00 to $110.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Atlantic Securities set a $126.00 price target on shares of Arch Capital Group in a research note on Wednesday, July 15th. UBS Group restated a “buy” rating and issued a $120.00 price objective (up from $114.00) on shares of Arch Capital Group in a report on Wednesday, July 8th. Finally, Wells Fargo & Company upped their target price on Arch Capital Group from $114.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $111.11.

About Arch Capital Group

Arch Capital Group Ltd. is a Bermuda-based insurance and financial services company that operates through a global network of subsidiaries. Listed on the Nasdaq under the symbol ACGL, the company provides specialty insurance, reinsurance and mortgage insurance products to businesses, institutions and individuals.

Arch’s insurance operations offer coverage across property, casualty and specialty lines, including professional liability, marine, aviation, energy, construction, accident and health, and other complex or customized risks.