Riverview Trust Co Sells 268 Shares of Arch Capital Group Ltd. $ACGL

Riverview Trust Co lessened its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 14.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,597 shares of the insurance provider’s stock after selling 268 shares during the quarter. Riverview Trust Co’s holdings in Arch Capital Group were worth $145,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ACGL. NBC Securities Inc. boosted its holdings in shares of Arch Capital Group by 124,050.0% in the first quarter. NBC Securities Inc. now owns 4,966 shares of the insurance provider’s stock valued at $477,000 after buying an additional 4,962 shares during the period. Harbor Investment Advisory LLC boosted its holdings in shares of Arch Capital Group by 242.5% in the first quarter. Harbor Investment Advisory LLC now owns 3,199 shares of the insurance provider’s stock valued at $308,000 after buying an additional 2,265 shares during the period. Merit Financial Group LLC boosted its holdings in shares of Arch Capital Group by 11.2% in the first quarter. Merit Financial Group LLC now owns 6,575 shares of the insurance provider’s stock valued at $632,000 after buying an additional 664 shares during the period. Arthur M. Cohen & Associates LLC boosted its holdings in shares of Arch Capital Group by 5.1% in the first quarter. Arthur M. Cohen & Associates LLC now owns 33,778 shares of the insurance provider’s stock valued at $3,249,000 after buying an additional 1,650 shares during the period. Finally, Procyon Advisors LLC boosted its holdings in shares of Arch Capital Group by 11.0% in the first quarter. Procyon Advisors LLC now owns 11,840 shares of the insurance provider’s stock valued at $1,139,000 after buying an additional 1,173 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ACGL. Wells Fargo & Company reduced their price target on shares of Arch Capital Group from $110.00 to $107.00 and set an “overweight” rating for the company in a report on Thursday, July 31st. Keefe, Bruyette & Woods increased their target price on shares of Arch Capital Group from $102.00 to $103.00 and gave the stock a “market perform” rating in a report on Thursday, August 14th. Wolfe Research initiated coverage on shares of Arch Capital Group in a report on Monday, September 15th. They set a “peer perform” rating for the company. Jefferies Financial Group cut shares of Arch Capital Group from a “buy” rating to a “hold” rating and reduced their target price for the stock from $106.00 to $100.00 in a report on Tuesday, June 10th. Finally, Citigroup initiated coverage on shares of Arch Capital Group in a report on Wednesday, August 13th. They set a “buy” rating and a $113.00 target price for the company. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Arch Capital Group has a consensus rating of “Moderate Buy” and a consensus price target of $109.36.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $90.31 on Thursday. The stock has a market cap of $33.71 billion, a P/E ratio of 9.32, a P/E/G ratio of 5.55 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. The company has a fifty day moving average price of $89.95 and a two-hundred day moving average price of $91.19. Arch Capital Group Ltd. has a one year low of $82.49 and a one year high of $116.47.

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, beating analysts’ consensus estimates of $2.30 by $0.28. The firm had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.29 billion. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. During the same quarter last year, the company posted $2.57 earnings per share. As a group, equities analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Insider Buying and Selling

In other Arch Capital Group news, insider Maamoun Rajeh sold 10,000 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $94.15, for a total value of $941,500.00. Following the completion of the sale, the insider owned 433,589 shares in the company, valued at $40,822,404.35. This trade represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.20% of the stock is currently owned by corporate insiders.

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.