Mainstay Capital Management LLC ADV Makes New Investment in Arch Capital Group Ltd. $ACGL

Mainstay Capital Management LLC ADV bought a new position in Arch Capital Group Ltd. (NASDAQ:ACGL) in the second quarter, HoldingsChannel reports. The institutional investor bought 3,986 shares of the insurance provider’s stock, valued at approximately $363,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in shares of Arch Capital Group by 324.1% in the first quarter. Farther Finance Advisors LLC now owns 4,033 shares of the insurance provider’s stock worth $388,000 after acquiring an additional 3,082 shares during the period. GAMMA Investing LLC grew its holdings in shares of Arch Capital Group by 13.5% in the first quarter. GAMMA Investing LLC now owns 8,382 shares of the insurance provider’s stock worth $806,000 after acquiring an additional 998 shares during the period. SG Americas Securities LLC grew its holdings in shares of Arch Capital Group by 977.2% in the first quarter. SG Americas Securities LLC now owns 94,526 shares of the insurance provider’s stock worth $9,092,000 after acquiring an additional 85,751 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Arch Capital Group by 5.8% in the first quarter. Assenagon Asset Management S.A. now owns 36,507 shares of the insurance provider’s stock worth $3,511,000 after acquiring an additional 2,003 shares during the period. Finally, USA Financial Formulas grew its holdings in shares of Arch Capital Group by 53.3% in the first quarter. USA Financial Formulas now owns 2,003 shares of the insurance provider’s stock worth $193,000 after acquiring an additional 696 shares during the period. Institutional investors own 89.07% of the company’s stock.

Insider Activity at Arch Capital Group

In other news, insider Maamoun Rajeh sold 10,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $94.15, for a total value of $941,500.00. Following the transaction, the insider directly owned 433,589 shares in the company, valued at $40,822,404.35. The trade was a 2.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ACGL has been the subject of several research analyst reports. Cantor Fitzgerald raised Arch Capital Group to a “hold” rating in a report on Wednesday, August 13th. UBS Group reaffirmed a “buy” rating and issued a $118.00 price objective (down previously from $124.00) on shares of Arch Capital Group in a report on Monday, August 4th. Cowen reiterated a “buy” rating on shares of Arch Capital Group in a research report on Monday, August 4th. Wolfe Research initiated coverage on Arch Capital Group in a research report on Monday, September 15th. They set a “peer perform” rating on the stock. Finally, Barclays set a $99.00 target price on Arch Capital Group and gave the company an “equal weight” rating in a research report on Wednesday. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $110.31.

Arch Capital Group Price Performance

Shares of Arch Capital Group stock opened at $92.23 on Friday. The stock’s 50-day simple moving average is $90.54 and its 200-day simple moving average is $91.12. Arch Capital Group Ltd. has a 52 week low of $82.49 and a 52 week high of $116.40. The company has a market capitalization of $34.42 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 5.60 and a beta of 0.47. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the previous year, the business earned $2.57 earnings per share. As a group, analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

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; 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.