Chevy Chase Trust Holdings LLC Acquires 488 Shares of Arch Capital Group Ltd. $ACGL

Chevy Chase Trust Holdings LLC raised its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.2% in the second quarter, Holdings Channel reports. The fund owned 199,335 shares of the insurance provider’s stock after buying an additional 488 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Arch Capital Group were worth $18,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ACGL. GAMMA Investing LLC boosted its holdings in Arch Capital Group by 13.5% during the first quarter. GAMMA Investing LLC now owns 8,382 shares of the insurance provider’s stock valued at $806,000 after acquiring an additional 998 shares during the period. State of Alaska Department of Revenue boosted its holdings in Arch Capital Group by 2.9% during the first quarter. State of Alaska Department of Revenue now owns 43,941 shares of the insurance provider’s stock valued at $4,226,000 after acquiring an additional 1,220 shares during the period. Blue Trust Inc. boosted its holdings in Arch Capital Group by 10.8% during the first quarter. Blue Trust Inc. now owns 1,697 shares of the insurance provider’s stock valued at $163,000 after acquiring an additional 166 shares during the period. Praxis Investment Management Inc. boosted its holdings in Arch Capital Group by 7.7% during the first quarter. Praxis Investment Management Inc. now owns 21,080 shares of the insurance provider’s stock valued at $2,027,000 after acquiring an additional 1,500 shares during the period. Finally, Nilsine Partners LLC boosted its holdings in Arch Capital Group by 13.7% during the first quarter. Nilsine Partners LLC now owns 30,569 shares of the insurance provider’s stock valued at $2,940,000 after acquiring an additional 3,695 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ACGL shares. Wells Fargo & Company upped 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. 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. Keefe, Bruyette & Woods increased their target price on shares of Arch Capital Group from $102.00 to $103.00 and gave the company a “market perform” rating in a research note on Thursday, August 14th. Barclays set a $99.00 target price on shares of Arch Capital Group and gave the company an “equal weight” rating in a research note on Wednesday, October 8th. Finally, Cowen reiterated a “buy” rating on shares of Arch Capital Group in a research note on Monday, August 4th. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Arch Capital Group presently has a consensus rating of “Hold” and a consensus target price of $108.71.

Arch Capital Group Stock Up 0.3%

NASDAQ ACGL opened at $86.51 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a 50-day simple moving average of $90.67 and a 200 day simple moving average of $90.84. Arch Capital Group Ltd. has a twelve month low of $82.49 and a twelve month high of $109.61. The stock has a market cap of $32.29 billion, a PE ratio of 8.93, a PEG ratio of 5.01 and a beta of 0.47.

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, topping 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 earned $2.57 earnings per share. On average, research analysts forecast 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 firm’s stock in a transaction dated 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available at 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.