Stonegate Investment Group LLC Reduces Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Stonegate Investment Group LLC lessened its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 8.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,037 shares of the insurance provider’s stock after selling 195 shares during the quarter. Stonegate Investment Group LLC’s holdings in Arch Capital Group were worth $228,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ACGL. UMB Bank n.a. acquired a new stake in Arch Capital Group during the second quarter worth $30,000. Baldwin Brothers LLC MA grew its holdings in shares of Arch Capital Group by 50.7% during the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 104 shares during the period. Rothschild Investment LLC acquired a new stake in shares of Arch Capital Group during the 2nd quarter worth about $35,000. LRI Investments LLC purchased a new stake in Arch Capital Group in the 1st quarter valued at about $38,000. Finally, Versant Capital Management Inc lifted its position in Arch Capital Group by 40.3% in the second quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider’s stock valued at $46,000 after buying an additional 131 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Arch Capital Group Stock Up 0.3 %

Shares of NASDAQ:ACGL opened at $108.53 on Friday. Arch Capital Group Ltd. has a fifty-two week low of $72.85 and a fifty-two week high of $116.47. The firm’s 50 day moving average price is $110.05 and its 200 day moving average price is $101.89. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16. The stock has a market cap of $40.75 billion, a price-to-earnings ratio of 8.57, a price-to-earnings-growth ratio of 2.06 and a beta of 0.59.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. The business had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The company’s revenue was up 10.3% on a year-over-year basis. During the same period last year, the business earned $1.92 EPS. As a group, equities research analysts predict that Arch Capital Group Ltd. will post 9.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ACGL has been the subject of a number of recent analyst reports. Bank of America lifted their price target on shares of Arch Capital Group from $119.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods boosted their target price on Arch Capital Group from $120.00 to $121.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Roth Mkm raised their price target on Arch Capital Group from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. JMP Securities lifted their price objective on Arch Capital Group from $115.00 to $125.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 15th. Finally, Barclays began coverage on Arch Capital Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 target price on the stock. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.53.

Insiders Place Their Bets

In other news, CFO Francois Morin sold 11,460 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the sale, the chief financial officer now owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.20% of the stock is owned by company 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.