Arch Capital Group Ltd. (NASDAQ:ACGL) Stake Trimmed by RBA Wealth Management LLC

RBA Wealth Management LLC lowered its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,152 shares of the insurance provider’s stock after selling 512 shares during the quarter. Arch Capital Group makes up 2.8% of RBA Wealth Management LLC’s investment portfolio, making the stock its 6th largest holding. RBA Wealth Management LLC’s holdings in Arch Capital Group were worth $7,289,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of ACGL. State Board of Administration of Florida Retirement System lifted its holdings in Arch Capital Group by 5.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 431,105 shares of the insurance provider’s stock worth $39,851,000 after purchasing an additional 21,332 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Arch Capital Group by 2.6% during the second quarter. Sequoia Financial Advisors LLC now owns 20,871 shares of the insurance provider’s stock valued at $2,106,000 after purchasing an additional 519 shares during the period. Cetera Advisors LLC increased its position in shares of Arch Capital Group by 70.9% during the first quarter. Cetera Advisors LLC now owns 13,700 shares of the insurance provider’s stock valued at $1,266,000 after purchasing an additional 5,684 shares during the period. Consolidated Portfolio Review Corp bought a new stake in shares of Arch Capital Group during the first quarter valued at approximately $1,937,000. Finally, Kinsale Capital Group Inc. boosted its stake in Arch Capital Group by 26.0% in the 1st quarter. Kinsale Capital Group Inc. now owns 43,860 shares of the insurance provider’s stock valued at $4,054,000 after buying an additional 9,064 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Price Performance

Shares of NASDAQ ACGL traded down $0.58 during mid-day trading on Tuesday, hitting $107.92. 530,164 shares of the stock traded hands, compared to its average volume of 1,631,528. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.60. Arch Capital Group Ltd. has a twelve month low of $72.85 and a twelve month high of $116.47. The company has a market cap of $40.52 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 2.01 and a beta of 0.59. The firm has a 50 day simple moving average of $110.26 and a two-hundred day simple moving average of $102.08.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.21 by $0.36. The firm had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.89 billion. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.92 EPS. As a group, equities research analysts forecast that Arch Capital Group Ltd. will post 9.06 EPS for the current fiscal year.

Analysts Set New Price Targets

ACGL has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on Arch Capital Group from $108.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. StockNews.com raised Arch Capital Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their price objective on Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. JMP Securities boosted their price objective on Arch Capital Group from $115.00 to $125.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 15th. Finally, Bank of America upped their price target on Arch Capital Group from $119.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Arch Capital Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.53.

Insider Activity at Arch Capital Group

In related news, CFO Francois Morin sold 11,460 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the sale, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at $22,723,476.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.20% of the stock is currently owned by corporate insiders.

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.