AdvisorNet Financial Inc grew its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL – Get Rating) by 54.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,285 shares of the insurance provider’s stock after acquiring an additional 3,260 shares during the quarter. AdvisorNet Financial Inc’s holdings in Arch Capital Group were worth $422,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Riverview Trust Co purchased a new position in Arch Capital Group in the first quarter worth $27,000. CWM LLC lifted its position in shares of Arch Capital Group by 52.8% during the 1st quarter. CWM LLC now owns 1,158 shares of the insurance provider’s stock valued at $56,000 after buying an additional 400 shares during the last quarter. Covestor Ltd lifted its position in shares of Arch Capital Group by 4,956.5% during the 1st quarter. Covestor Ltd now owns 1,163 shares of the insurance provider’s stock valued at $56,000 after buying an additional 1,140 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Arch Capital Group by 159.0% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,225 shares of the insurance provider’s stock valued at $59,000 after buying an additional 752 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its position in shares of Arch Capital Group by 1,172.2% during the 1st quarter. Zions Bancorporation N.A. now owns 1,374 shares of the insurance provider’s stock valued at $67,000 after buying an additional 1,266 shares during the last quarter. Institutional investors own 87.61% of the company’s stock.
Analyst Ratings Changes
ACGL has been the topic of a number of recent research reports. Barclays dropped their price target on Arch Capital Group from $54.00 to $52.00 and set an “overweight” rating on the stock in a research report on Thursday, July 14th. Morgan Stanley dropped their price objective on Arch Capital Group from $53.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, May 23rd. Finally, StockNews.com cut Arch Capital Group from a “buy” rating to a “hold” rating in a report on Monday, August 22nd. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Arch Capital Group currently has an average rating of “Moderate Buy” and an average target price of $53.38.
Arch Capital Group Price Performance
Arch Capital Group (NASDAQ:ACGL – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The insurance provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.09 by $0.25. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.51 billion. Arch Capital Group had a return on equity of 14.45% and a net margin of 19.06%. The company’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.00 EPS. As a group, equities analysts anticipate that Arch Capital Group Ltd. will post 4.64 EPS for the current fiscal year.
In other news, CFO Francois Morin sold 16,885 shares of the stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $46.92, for a total transaction of $792,244.20. Following the transaction, the chief financial officer now directly owns 193,259 shares in the company, valued at approximately $9,067,712.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Arch Capital Group news, insider Louis T. Petrillo sold 16,023 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $45.83, for a total value of $734,334.09. Following the completion of the sale, the insider now owns 105,274 shares in the company, valued at approximately $4,824,707.42. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Francois Morin sold 16,885 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $46.92, for a total value of $792,244.20. Following the completion of the transaction, the chief financial officer now owns 193,259 shares of the company’s stock, valued at approximately $9,067,712.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,546 shares of company stock worth $1,883,120. 4.20% of the stock is currently owned by 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; collateral protection, debt cancellation, and service contract reimbursement products; 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.
- Get a free copy of the StockNews.com research report on Arch Capital Group (ACGL)
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