Arch Capital Group Ltd. (NASDAQ:ACGL) Shares Sold by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP lowered its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 2.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 38,289 shares of the insurance provider’s stock after selling 909 shares during the period. Arch Capital Group makes up approximately 1.4% of Wakefield Asset Management LLLP’s investment portfolio, making the stock its 13th largest position. Wakefield Asset Management LLLP’s holdings in Arch Capital Group were worth $3,863,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. UMB Bank n.a. acquired a new stake in shares of Arch Capital Group during the second quarter worth about $30,000. Baldwin Brothers LLC MA lifted its holdings in 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 buying an additional 104 shares in the last quarter. Rothschild Investment LLC purchased a new position in Arch Capital Group in the 2nd quarter valued at approximately $35,000. LRI Investments LLC acquired a new position in shares of Arch Capital Group in the first quarter worth $40,000. Finally, Richardson Financial Services Inc. purchased a new stake in shares of Arch Capital Group during the fourth quarter worth $33,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Price Performance

ACGL stock opened at $110.45 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $41.47 billion, a P/E ratio of 8.72, a PEG ratio of 2.05 and a beta of 0.60. The business has a 50 day simple moving average of $101.36 and a 200-day simple moving average of $97.13. Arch Capital Group Ltd. has a twelve month low of $72.85 and a twelve month high of $114.65.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.36. The firm had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. Arch Capital Group’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.92 EPS. As a group, equities analysts anticipate that Arch Capital Group Ltd. will post 9.01 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ACGL shares. Royal Bank of Canada lifted their target price on Arch Capital Group from $108.00 to $112.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Bank of America lowered their price objective on Arch Capital Group from $119.00 to $118.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Evercore ISI raised their target price on shares of Arch Capital Group from $100.00 to $104.00 and gave the company an “in-line” rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods boosted their price target on shares of Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Arch Capital Group from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Arch Capital Group presently has a consensus rating of “Moderate Buy” and an average target price of $107.44.

Insider Transactions at Arch Capital Group

In related news, CFO Francois Morin sold 11,460 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $102.46, for a total value of $1,174,191.60. Following the transaction, the chief financial officer now owns 221,779 shares in the company, valued at approximately $22,723,476.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.20% of the company’s stock.

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.