IFP Advisors Inc Sells 768 Shares of Arch Capital Group Ltd. $ACGL

IFP Advisors Inc cut its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 33.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,512 shares of the insurance provider’s stock after selling 768 shares during the period. IFP Advisors Inc’s holdings in Arch Capital Group were worth $140,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ACGL. Bartlett & CO. Wealth Management LLC bought a new stake in shares of Arch Capital Group during the 1st quarter worth about $27,000. Meeder Asset Management Inc. lifted 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 purchasing an additional 150 shares during the last quarter. Wayfinding Financial LLC bought a new stake in Arch Capital Group during the first quarter worth approximately $31,000. Zions Bancorporation National Association UT acquired a new position in Arch Capital Group during the first quarter valued at approximately $37,000. Finally, Hemington Wealth Management raised its position in shares of Arch Capital Group by 27.7% in the first quarter. Hemington Wealth Management now owns 548 shares of the insurance provider’s stock valued at $52,000 after purchasing an additional 119 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Arch Capital Group Price Performance

Shares of ACGL stock opened at $86.51 on Friday. Arch Capital Group Ltd. has a 12 month low of $82.49 and a 12 month high of $109.61. The company has a market capitalization of $32.29 billion, a P/E ratio of 8.93, a P/E/G ratio of 5.01 and a beta of 0.47. The stock has a 50 day moving average of $90.67 and a two-hundred day moving average of $90.84. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $4.29 billion. During the same period in the prior year, the company posted $2.57 earnings per share. As a group, equities analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on ACGL. Citigroup assumed coverage on shares of Arch Capital Group in a report on Wednesday, August 13th. They set a “buy” rating and a $113.00 price objective for the company. UBS Group restated a “buy” rating and set a $118.00 price target (down from $124.00) on shares of Arch Capital Group in a report on Monday, August 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arch Capital Group in a research note on Wednesday, October 8th. The Goldman Sachs Group set a $88.00 target price on Arch Capital Group and gave the company a “sell” rating in a research note on Tuesday. Finally, Wells Fargo & Company raised their target price on Arch Capital Group from $107.00 to $111.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, eight 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 price target of $108.71.

Insider Buying and Selling at Arch Capital Group

In related news, insider Maamoun Rajeh sold 10,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $94.15, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 4.20% of the company’s stock.

Arch Capital Group 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.