Wright Investors Service Inc. Sells 3,846 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Wright Investors Service Inc. lowered its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 15.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,529 shares of the insurance provider’s stock after selling 3,846 shares during the quarter. Wright Investors Service Inc.’s holdings in Arch Capital Group were worth $2,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Arch Capital Group by 0.3% in the first quarter. Vanguard Group Inc. now owns 40,858,890 shares of the insurance provider’s stock worth $3,776,996,000 after acquiring an additional 104,008 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Arch Capital Group by 4.4% in the second quarter. Principal Financial Group Inc. now owns 7,100,952 shares of the insurance provider’s stock worth $716,415,000 after purchasing an additional 300,716 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Arch Capital Group by 1.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,907,122 shares of the insurance provider’s stock worth $546,054,000 after purchasing an additional 99,329 shares during the last quarter. Capital International Investors raised its position in Arch Capital Group by 61.1% during the first quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock valued at $380,167,000 after acquiring an additional 1,560,173 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Arch Capital Group by 6.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,925,288 shares of the insurance provider’s stock valued at $396,026,000 after buying an additional 244,285 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Trading Up 1.8 %

NASDAQ:ACGL traded up $2.01 on Friday, reaching $114.86. The company’s stock had a trading volume of 1,293,413 shares, compared to its average volume of 1,601,311. 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 firm has a market cap of $43.13 billion, a price-to-earnings ratio of 9.07, a price-to-earnings-growth ratio of 2.05 and a beta of 0.59. Arch Capital Group Ltd. has a 12-month low of $72.85 and a 12-month high of $115.03. The stock has a 50 day moving average price of $107.47 and a 200 day moving average price of $100.52.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.36. The firm had revenue of $3.78 billion for 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 company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.92 EPS. On average, equities analysts anticipate that Arch Capital Group Ltd. will post 9.01 EPS for the current fiscal year.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the company’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 owns 221,779 shares in the company, valued at $22,723,476.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on ACGL shares. Roth Mkm boosted their price objective on Arch Capital Group from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Evercore ISI boosted their price objective on Arch Capital Group from $100.00 to $104.00 and gave the company an “in-line” rating in a research report on Wednesday, July 31st. Royal Bank of Canada boosted their price objective on Arch Capital Group from $108.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Citigroup boosted their price objective on Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Arch Capital Group from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $113.73.

About Arch Capital Group

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.