Financial Advocates Investment Management Cuts Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Financial Advocates Investment Management lowered its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 2.6% in the third quarter, Holdings Channel reports. The institutional investor owned 3,998 shares of the insurance provider’s stock after selling 106 shares during the period. Financial Advocates Investment Management’s holdings in Arch Capital Group were worth $447,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ACGL. UMB Bank n.a. purchased a new stake in shares of Arch Capital Group during the 2nd quarter worth $30,000. Baldwin Brothers LLC MA lifted its position in shares of Arch Capital Group by 50.7% during the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock valued at $31,000 after buying an additional 104 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of Arch Capital Group in the 2nd quarter worth approximately $35,000. LRI Investments LLC purchased a new position in shares of Arch Capital Group in the 1st quarter worth approximately $38,000. Finally, Versant Capital Management Inc lifted its position in Arch Capital Group by 40.3% during the second quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider’s stock valued at $46,000 after acquiring an additional 131 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Arch Capital Group Stock Performance

Shares of NASDAQ ACGL opened at $96.02 on Friday. The stock has a market cap of $36.11 billion, a price-to-earnings ratio of 6.44, a PEG ratio of 1.83 and a beta of 0.61. Arch Capital Group Ltd. has a 12 month low of $72.85 and a 12 month high of $116.47. The company has a 50 day simple moving average of $110.43 and a two-hundred day simple moving average of $102.70. The company has a current ratio of 0.58, a quick ratio of 0.60 and a debt-to-equity ratio of 0.17.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.05. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the previous year, the firm posted $2.31 earnings per share. As a group, analysts predict that Arch Capital Group Ltd. will post 9.05 earnings per share for the current year.

Insider Activity

In related news, CFO Francois Morin sold 11,460 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at $22,723,476.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ACGL shares. Roth Mkm lifted their price target on shares of Arch Capital Group from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Barclays started coverage on Arch Capital Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 target price on the stock. Wells Fargo & Company increased their price target on Arch Capital Group from $110.00 to $126.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Royal Bank of Canada dropped their price target on Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Bank of America increased their price objective on shares of Arch Capital Group from $119.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Arch Capital Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.40.

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.