Parallel Advisors LLC Boosts Holdings in Arch Capital Group Ltd. $ACGL

Parallel Advisors LLC lifted its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 34.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,160 shares of the insurance provider’s stock after purchasing an additional 808 shares during the quarter. Parallel Advisors LLC’s holdings in Arch Capital Group were worth $288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of ACGL. Capital A Wealth Management LLC bought a new stake in Arch Capital Group in the 4th quarter worth about $25,000. Meeder Asset Management Inc. increased its holdings 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 worth $27,000 after buying an additional 150 shares in the last quarter. Bartlett & CO. Wealth Management LLC bought a new stake in Arch Capital Group in the 1st quarter worth about $27,000. Wayfinding Financial LLC bought a new stake in Arch Capital Group in the 1st quarter worth about $31,000. Finally, Zions Bancorporation National Association UT bought a new stake in Arch Capital Group in the 1st quarter worth about $37,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ACGL. Jefferies Financial Group downgraded Arch Capital Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $106.00 to $100.00 in a report on Tuesday, June 10th. Cantor Fitzgerald upgraded Arch Capital Group to a “hold” rating in a report on Wednesday, August 13th. Keefe, Bruyette & Woods upped their price target on shares of Arch Capital Group from $102.00 to $103.00 and gave the company a “market perform” rating in a research report on Thursday, August 14th. Citigroup began coverage on shares of Arch Capital Group in a research report on Wednesday, August 13th. They set a “buy” rating and a $113.00 price target for the company. Finally, Wolfe Research began coverage on shares of Arch Capital Group in a research report on Monday, September 15th. They set a “peer perform” rating for the company. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Arch Capital Group currently has a consensus rating of “Moderate Buy” and an average target price of $109.36.

Insider Activity

In other news, insider Maamoun Rajeh sold 10,000 shares of the company’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 directly owned 433,589 shares of the company’s stock, valued at $40,822,404.35. This represents a 2.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.10% of the stock is owned by company insiders.

Arch Capital Group Trading Up 0.2%

ACGL stock opened at $88.40 on Monday. Arch Capital Group Ltd. has a 1-year low of $82.49 and a 1-year high of $116.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $32.99 billion, a price-to-earnings ratio of 9.12, a PEG ratio of 5.41 and a beta of 0.51. The business has a 50 day simple moving average of $89.78 and a two-hundred day simple moving average of $91.24.

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

Arch Capital Group Company Profile

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.