Chase Investment Counsel Corp Has $4.77 Million Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Chase Investment Counsel Corp lessened its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 8.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 47,314 shares of the insurance provider’s stock after selling 4,636 shares during the quarter. Arch Capital Group accounts for approximately 1.6% of Chase Investment Counsel Corp’s investment portfolio, making the stock its 20th largest holding. Chase Investment Counsel Corp’s holdings in Arch Capital Group were worth $4,773,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. UMB Bank n.a. acquired a new stake in shares of Arch Capital Group during the 2nd quarter worth approximately $30,000. Baldwin Brothers LLC MA lifted its position 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 buying an additional 104 shares during the period. Richardson Financial Services Inc. bought a new position in shares of Arch Capital Group during the 4th quarter worth approximately $33,000. Rothschild Investment LLC bought a new position in shares of Arch Capital Group during the 2nd quarter worth approximately $35,000. Finally, LRI Investments LLC bought a new position in shares of Arch Capital Group during the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Trading Up 0.7 %

ACGL stock opened at $113.41 on Monday. The company has a market cap of $42.58 billion, a P/E ratio of 8.95, a PEG ratio of 2.05 and a beta of 0.60. Arch Capital Group Ltd. has a twelve month low of $72.85 and a twelve month high of $114.69. 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 business has a fifty day moving average of $105.74 and a 200-day moving average of $99.88.

Arch Capital Group (NASDAQ:ACGL) last released its 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 company had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.89 billion. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.92 earnings per share. As a group, equities research analysts expect that Arch Capital Group Ltd. will post 9.01 EPS for the current year.

Insider Transactions at Arch Capital Group

In other news, CFO Francois Morin sold 11,460 shares of the business’s stock in a transaction on 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 completion of the sale, the chief financial officer now owns 221,779 shares in the company, valued at $22,723,476.34. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 4.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on ACGL. Evercore ISI raised their target price on Arch Capital Group from $100.00 to $104.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 31st. Roth Mkm raised their target price 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. Deutsche Bank Aktiengesellschaft raised their target price on Arch Capital Group from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. StockNews.com downgraded Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company cut their price objective on Arch Capital Group from $111.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $113.73.

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.