Ameritas Advisory Services LLC Lowers Stake in Arch Capital Group Ltd. $ACGL

Key Points

• Ameritas Advisory Services LLC reduced its Arch Capital Group stake by 98.5% in the second quarter, selling 23,398 shares and retaining 355 shares worth approximately $34,000.
• Arch Capital reported quarterly EPS of $2.56, exceeding estimates of $2.47, while revenue of $4.67 billion also surpassed expectations. Institutional investors own 89.07% of the company.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $110.82 versus the stock’s reported price of $96.70.

Ameritas Advisory Services LLC cut its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 98.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 355 shares of the insurance provider's stock after selling 23,398 shares during the quarter. Ameritas Advisory Services LLC's holdings in Arch Capital Group were worth $34,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wedmont Private Capital boosted its stake in shares of Arch Capital Group by 87.5% during the 2nd quarter. Wedmont Private Capital now owns 8,611 shares of the insurance provider's stock valued at $870,000 after buying an additional 4,019 shares during the last quarter. HB Wealth Management LLC grew its position in shares of Arch Capital Group by 13.3% during the second quarter. HB Wealth Management LLC now owns 17,171 shares of the insurance provider's stock worth $1,667,000 after buying an additional 2,020 shares in the last quarter. Saudi Central Bank increased its stake in shares of Arch Capital Group by 81.7% in the second quarter. Saudi Central Bank now owns 24,316 shares of the insurance provider's stock worth $2,360,000 after buying an additional 10,931 shares during the last quarter. AlphaGrep UK Ltd acquired a new stake in Arch Capital Group in the second quarter valued at $430,000. Finally, Syon Capital LLC raised its holdings in Arch Capital Group by 17.3% in the second quarter. Syon Capital LLC now owns 3,218 shares of the insurance provider's stock valued at $312,000 after acquiring an additional 475 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL opened at $96.70 on Friday. The firm's 50 day moving average is $99.45 and its two-hundred day moving average is $96.63. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $33.00 billion, a P/E ratio of 7.56, a PEG ratio of 4.78 and a beta of 0.30. Arch Capital Group Ltd. has a 52 week low of $82.44 and a 52 week high of $107.08.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.47 by $0.09. The company had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.36 billion. Arch Capital Group had a return on equity of 17.06% and a net margin of 24.40%.During the same quarter in the previous year, the firm posted $2.58 EPS. Analysts anticipate that Arch Capital Group Ltd. will post 9.44 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Francois Morin sold 11,010 shares of the firm's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $99.32, for a total transaction of $1,093,513.20. Following the completion of the transaction, the chief financial officer owned 184,826 shares in the company, valued at approximately $18,356,918.32. This trade represents a 5.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 3.30% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Morgan Stanley lifted their target price on Arch Capital Group from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Monday, July 6th. Royal Bank Of Canada reissued an "outperform" rating and set a $120.00 price target (up from $115.00) on shares of Arch Capital Group in a research report on Thursday, July 30th. UBS Group restated a "buy" rating and set a $120.00 price objective (up from $114.00) on shares of Arch Capital Group in a research note on Wednesday, July 8th. JPMorgan Chase & Co. lifted their price objective on shares of Arch Capital Group from $116.00 to $118.00 and gave the stock a "neutral" rating in a report on Tuesday, August 11th. Finally, Cantor Fitzgerald boosted their target price on shares of Arch Capital Group from $102.00 to $110.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $110.82.

Arch Capital Group Profile

Arch Capital Group Ltd. is a Bermuda-based insurance and financial services company that operates through a global network of subsidiaries. Listed on the Nasdaq under the symbol ACGL, the company provides specialty insurance, reinsurance and mortgage insurance products to businesses, institutions and individuals.

Arch's insurance operations offer coverage across property, casualty and specialty lines, including professional liability, marine, aviation, energy, construction, accident and health, and other complex or customized risks.

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