Arch Capital Group Ltd. $ACGL Shares Acquired by Bleakley Financial Group LLC

Bleakley Financial Group LLC lifted its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 7.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,293 shares of the insurance provider’s stock after purchasing an additional 901 shares during the period. Bleakley Financial Group LLC’s holdings in Arch Capital Group were worth $1,210,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bartlett & CO. Wealth Management LLC acquired a new position in Arch Capital Group in the 1st quarter valued at about $27,000. Meeder Asset Management Inc. increased its position in Arch Capital Group by 116.3% in the 1st quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 150 shares during the period. Wayfinding Financial LLC acquired a new position in Arch Capital Group in the 1st quarter valued at about $31,000. Zions Bancorporation National Association UT acquired a new position in Arch Capital Group in the 1st quarter valued at about $37,000. Finally, Hemington Wealth Management increased its position in Arch Capital Group by 27.7% in the 1st quarter. Hemington Wealth Management now owns 548 shares of the insurance provider’s stock valued at $52,000 after acquiring an additional 119 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on Arch Capital Group from $107.00 to $111.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Arch Capital Group in a research report on Friday. Wolfe Research initiated coverage on Arch Capital Group in a research report on Monday, September 15th. They issued a “peer perform” rating on the stock. Keefe, Bruyette & Woods lifted their price objective on Arch Capital Group from $102.00 to $103.00 and gave the company a “market perform” rating in a report on Thursday, August 14th. Finally, Citigroup initiated coverage on Arch Capital Group in a report on Wednesday, August 13th. They issued a “buy” rating and a $113.00 price objective on the stock. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $108.71.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL opened at $87.15 on Friday. The business’s 50 day simple moving average is $90.42 and its 200-day simple moving average is $90.80. The firm has a market capitalization of $32.53 billion, a price-to-earnings ratio of 8.99, a price-to-earnings-growth ratio of 5.05 and a beta of 0.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56. Arch Capital Group Ltd. has a 12 month low of $82.49 and a 12 month high of $107.19.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.30 by $0.28. The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.29 billion. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%.During the same quarter in the previous year, the company earned $2.57 EPS. As a group, equities analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Insider Activity at Arch Capital Group

In other news, insider Maamoun Rajeh sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total transaction of $941,500.00. Following the sale, the insider owned 433,589 shares of the company’s stock, valued at $40,822,404.35. The trade was a 2.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.20% of the stock is owned by company insiders.

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.