Confluence Investment Management LLC Lowers Stake in Arch Capital Group Ltd. $ACGL

Confluence Investment Management LLC lessened its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.9% in the 3rd quarter, Holdings Channel reports. The firm owned 389,020 shares of the insurance provider’s stock after selling 7,378 shares during the period. Confluence Investment Management LLC’s holdings in Arch Capital Group were worth $35,296,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ACGL. Mainstay Capital Management LLC ADV acquired a new stake in Arch Capital Group in the second quarter valued at $363,000. Bryn Mawr Trust Advisors LLC purchased a new position in shares of Arch Capital Group in the 2nd quarter valued at about $371,000. OMERS ADMINISTRATION Corp raised its position in shares of Arch Capital Group by 42.2% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 45,026 shares of the insurance provider’s stock worth $4,331,000 after acquiring an additional 13,357 shares in the last quarter. Connecticut Wealth Management LLC purchased a new stake in Arch Capital Group during the first quarter worth approximately $6,173,000. Finally, Dark Forest Capital Management LP lifted its stake in Arch Capital Group by 549.4% during the first quarter. Dark Forest Capital Management LP now owns 37,474 shares of the insurance provider’s stock worth $3,604,000 after purchasing an additional 31,703 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Barclays set a $99.00 price objective on shares of Arch Capital Group and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on shares of Arch Capital Group from $110.00 to $111.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. Cantor Fitzgerald reissued a “neutral” rating and issued a $98.00 price target on shares of Arch Capital Group in a research report on Tuesday, October 28th. Wells Fargo & Company cut their target price on Arch Capital Group from $111.00 to $106.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Finally, Citigroup reissued a “market outperform” rating on shares of Arch Capital Group in a report on Tuesday, October 28th. 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.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $106.00.

Insider Activity at Arch Capital Group

In related news, CFO Francois Morin sold 8,000 shares of Arch Capital Group stock in a transaction on Friday, November 28th. The shares were sold at an average price of $94.62, for a total value of $756,960.00. Following the transaction, the chief financial officer directly owned 266,681 shares in the company, valued at $25,233,356.22. This trade represents a 2.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John M. Pasquesi sold 203,866 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $93.90, for a total transaction of $19,143,017.40. Following the completion of the transaction, the insider directly owned 351,356 shares in the company, valued at $32,992,328.40. This represents a 36.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 220,666 shares of company stock worth $20,728,673 over the last quarter. Company insiders own 4.10% of the company’s stock.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL opened at $97.12 on Tuesday. Arch Capital Group Ltd. has a one year low of $82.44 and a one year high of $97.40. The stock has a market capitalization of $35.22 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 2.24 and a beta of 0.47. The company has a 50-day simple moving average of $90.87 and a 200-day simple moving average of $90.37. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.55 and a current ratio of 0.55.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Monday, October 27th. The insurance provider reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $1.01. The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $4.39 billion. Arch Capital Group had a return on equity of 16.38% and a net margin of 20.96%.During the same quarter in the previous year, the firm posted $1.99 EPS. On average, analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

About Arch Capital Group

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.