Oppenheimer Asset Management Inc. Has $12.38 Million Stake in Arch Capital Group Ltd. $ACGL

Oppenheimer Asset Management Inc. grew its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 2.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,956 shares of the insurance provider’s stock after purchasing an additional 2,674 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Arch Capital Group were worth $12,379,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ACGL. Harbour Investments Inc. boosted its position in shares of Arch Capital Group by 8.4% during the 1st quarter. Harbour Investments Inc. now owns 1,431 shares of the insurance provider’s stock valued at $138,000 after acquiring an additional 111 shares in the last quarter. Resonant Capital Advisors LLC boosted its position in shares of Arch Capital Group by 1.7% during the 1st quarter. Resonant Capital Advisors LLC now owns 6,672 shares of the insurance provider’s stock valued at $642,000 after acquiring an additional 113 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of Arch Capital Group by 0.9% during the 1st quarter. Venturi Wealth Management LLC now owns 13,228 shares of the insurance provider’s stock valued at $1,272,000 after acquiring an additional 115 shares in the last quarter. Hemington Wealth Management boosted its position in shares of Arch Capital Group by 27.7% during the 1st quarter. Hemington Wealth Management now owns 548 shares of the insurance provider’s stock valued at $52,000 after acquiring an additional 119 shares in the last quarter. Finally, Horizon Advisory Services Inc. boosted its position in shares of Arch Capital Group by 4.2% during the 1st quarter. Horizon Advisory Services Inc. now owns 2,996 shares of the insurance provider’s stock valued at $288,000 after acquiring an additional 120 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other 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 transaction of $941,500.00. Following the completion of the sale, the insider owned 433,589 shares of the company’s stock, valued at $40,822,404.35. This represents 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. 4.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ACGL. Cantor Fitzgerald upgraded shares of Arch Capital Group to a “hold” rating in a research report on Wednesday, August 13th. Wells Fargo & Company lifted their price target on shares of Arch Capital Group from $107.00 to $111.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Cowen reissued a “buy” rating on shares of Arch Capital Group in a report on Monday, August 4th. Wolfe Research began coverage on shares of Arch Capital Group in a report on Monday, September 15th. They set a “peer perform” rating for the company. Finally, Keefe, Bruyette & Woods lifted 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 report on Thursday, August 14th. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $108.71.

Arch Capital Group Trading Down 0.4%

ACGL opened at $87.15 on Monday. 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 cap of $32.53 billion, a price-to-earnings ratio of 8.99, a price-to-earnings-growth ratio of 5.05 and a beta of 0.47. The firm has a 50 day simple moving average of $90.42 and a 200 day simple moving average of $90.80. Arch Capital Group Ltd. has a fifty-two week low of $82.49 and a fifty-two week high of $107.19.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.28. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. The firm had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same quarter in the previous year, the company earned $2.57 earnings per share. On average, sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current 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.