Brighton Jones LLC Purchases New Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Brighton Jones LLC purchased a new stake in Arch Capital Group Ltd. (NASDAQ:ACGLFree Report) during the first quarter, Holdings Channel reports. The institutional investor purchased 2,145 shares of the insurance provider’s stock, valued at approximately $206,000.

A number of other hedge funds have also modified their holdings of the company. Exchange Traded Concepts LLC raised its position in shares of Arch Capital Group by 332.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 37,435 shares of the insurance provider’s stock valued at $3,600,000 after acquiring an additional 28,786 shares during the period. Opal Wealth Advisors LLC acquired a new stake in Arch Capital Group during the 1st quarter worth approximately $98,000. Everhart Financial Group Inc. raised its holdings in Arch Capital Group by 15.6% during the 1st quarter. Everhart Financial Group Inc. now owns 6,366 shares of the insurance provider’s stock worth $612,000 after buying an additional 861 shares during the period. Bensler LLC raised its holdings in Arch Capital Group by 10.3% during the 1st quarter. Bensler LLC now owns 22,712 shares of the insurance provider’s stock worth $2,184,000 after buying an additional 2,123 shares during the period. Finally, McElhenny Sheffield Capital Management LLC raised its holdings in Arch Capital Group by 19.7% during the 1st quarter. McElhenny Sheffield Capital Management LLC now owns 4,888 shares of the insurance provider’s stock worth $470,000 after buying an additional 806 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Arch Capital Group Price Performance

NASDAQ:ACGL opened at $90.30 on Thursday. Arch Capital Group Ltd. has a 1-year low of $82.49 and a 1-year high of $116.47. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $92.65 and a 200 day simple moving average of $92.54. The stock has a market capitalization of $33.84 billion, a PE ratio of 9.25, a P/E/G ratio of 6.23 and a beta of 0.53.

Arch Capital Group (NASDAQ:ACGLGet Free Report) last released its earnings results on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.59 by ($0.05). Arch Capital Group had a net margin of 20.72% and a return on equity of 15.79%. The firm had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.75 billion. During the same period in the prior year, the business posted $2.45 earnings per share. Arch Capital Group’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, research analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Insider Activity at Arch Capital Group

In related news, CEO Nicolas Papadopoulo sold 7,636 shares of the firm’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $92.48, for a total value of $706,177.28. Following the completion of the transaction, the chief executive officer now directly owns 795,718 shares of the company’s stock, valued at approximately $73,588,000.64. This trade represents a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Francois Morin sold 12,630 shares of Arch Capital Group stock in a transaction on Friday, May 16th. The stock was sold at an average price of $94.58, for a total transaction of $1,194,545.40. Following the transaction, the chief financial officer now directly owns 274,681 shares of the company’s stock, valued at approximately $25,979,328.98. This trade represents a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,976 shares of company stock valued at $10,531,038. 4.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on ACGL shares. UBS Group raised their target price on shares of Arch Capital Group to $124.00 and gave the stock a “buy” rating in a report on Thursday, June 12th. Jefferies Financial Group downgraded shares of Arch Capital Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $106.00 to $100.00 in a report on Tuesday, June 10th. Keefe, Bruyette & Woods raised their target price on shares of Arch Capital Group from $104.00 to $113.00 and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Wells Fargo & Company raised their target price on shares of Arch Capital Group from $106.00 to $108.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. raised their target price on shares of Arch Capital Group from $106.00 to $107.00 and gave the stock a “neutral” rating in a report on Tuesday, April 8th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $114.63.

Check Out Our Latest Research Report on ACGL

About Arch Capital Group

(Free Report)

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.

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Institutional Ownership by Quarter for Arch Capital Group (NASDAQ:ACGL)

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