Baker Tilly Wealth Management LLC Raises Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Baker Tilly Wealth Management LLC grew its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 7.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,603 shares of the insurance provider’s stock after acquiring an additional 188 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Arch Capital Group were worth $263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ellsworth Advisors LLC boosted its holdings in shares of Arch Capital Group by 1.0% in the second quarter. Ellsworth Advisors LLC now owns 56,406 shares of the insurance provider’s stock worth $5,691,000 after buying an additional 581 shares during the last quarter. Fiduciary Financial Group LLC purchased a new stake in shares of Arch Capital Group in the 2nd quarter worth $357,000. Swedbank AB raised its holdings in Arch Capital Group by 26.2% in the 2nd quarter. Swedbank AB now owns 342,164 shares of the insurance provider’s stock worth $34,521,000 after purchasing an additional 71,072 shares during the period. Baader Bank Aktiengesellschaft lifted its position in Arch Capital Group by 33.5% during the second quarter. Baader Bank Aktiengesellschaft now owns 64,304 shares of the insurance provider’s stock valued at $6,486,000 after purchasing an additional 16,124 shares in the last quarter. Finally, Hendley & Co. Inc. grew its holdings in Arch Capital Group by 1.1% during the second quarter. Hendley & Co. Inc. now owns 43,010 shares of the insurance provider’s stock valued at $4,339,000 after purchasing an additional 450 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Price Performance

Shares of ACGL traded up $0.90 during mid-day trading on Friday, hitting $102.55. 801,677 shares of the stock were exchanged, compared to its average volume of 1,653,341. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market cap of $38.56 billion, a PE ratio of 8.09, a price-to-earnings-growth ratio of 1.80 and a beta of 0.58. Arch Capital Group Ltd. has a 52-week low of $72.85 and a 52-week high of $103.79. The firm has a 50-day moving average of $98.60 and a two-hundred day moving average of $94.44.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The company had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the firm earned $1.92 earnings per share. Arch Capital Group’s revenue was up 10.3% on a year-over-year basis. On average, equities analysts predict that Arch Capital Group Ltd. will post 8.93 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ACGL shares. Keefe, Bruyette & Woods lifted their price objective 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. JMP Securities upped their price target on shares of Arch Capital Group from $110.00 to $115.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 31st. Evercore ISI raised their price objective on shares of Arch Capital Group from $100.00 to $104.00 and gave the company an “in-line” rating in a research report on Wednesday, July 31st. Wells Fargo & Company dropped their target price on shares of Arch Capital Group from $111.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, August 12th. Finally, Roth Mkm reissued a “buy” rating and set a $110.00 price target on shares of Arch Capital Group in a report on Tuesday, April 30th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $105.56.

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.