Arch Capital Group Ltd. $ACGL Shares Acquired by QRG Capital Management Inc.

Key Points

• QRG Capital Management Inc. increased its stake in Arch Capital Group Ltd. by 3.7%, now holding 87,525 shares worth approximately $7.97 million.
• Insider Maamoun Rajeh sold 10,000 shares at an average price of $94.15, reducing his ownership by 2.25%.
• Arch Capital Group's stock is currently rated with eight analysts endorsing a "Buy" and nine giving a "Hold," with a consensus target price of $109.36.

QRG Capital Management Inc. lifted its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 3.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 87,525 shares of the insurance provider's stock after buying an additional 3,156 shares during the period. QRG Capital Management Inc.'s holdings in Arch Capital Group were worth $7,969,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ACGL. Harbour Investments Inc. boosted its holdings in shares of Arch Capital Group by 8.4% during the first quarter. Harbour Investments Inc. now owns 1,431 shares of the insurance provider's stock worth $138,000 after purchasing an additional 111 shares during the last quarter. Resonant Capital Advisors LLC lifted its position in Arch Capital Group by 1.7% during the first quarter. Resonant Capital Advisors LLC now owns 6,672 shares of the insurance provider's stock worth $642,000 after buying an additional 113 shares during the period. Venturi Wealth Management LLC boosted its stake in Arch Capital Group by 0.9% in the 1st quarter. Venturi Wealth Management LLC now owns 13,228 shares of the insurance provider's stock worth $1,272,000 after buying an additional 115 shares during the last quarter. Hemington Wealth Management grew its holdings in Arch Capital Group by 27.7% in the 1st quarter. Hemington Wealth Management now owns 548 shares of the insurance provider's stock valued at $52,000 after buying an additional 119 shares during the period. Finally, Horizon Advisory Services Inc. increased its stake in shares of Arch Capital Group by 4.2% during the 1st quarter. Horizon Advisory Services Inc. now owns 2,996 shares of the insurance provider's stock valued at $288,000 after acquiring an additional 120 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Arch Capital Group

In other news, insider Maamoun Rajeh sold 10,000 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total transaction of $941,500.00. Following the completion of the transaction, the insider directly owned 433,589 shares of the company's stock, valued at approximately $40,822,404.35. This represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.10% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on ACGL. UBS Group reissued a "buy" rating and issued a $118.00 target price (down from $124.00) on shares of Arch Capital Group in a research report on Monday, August 4th. Keefe, Bruyette & Woods lifted their price target on shares of Arch Capital Group from $102.00 to $103.00 and gave the company a "market perform" rating in a report on Thursday, August 14th. Cantor Fitzgerald upgraded Arch Capital Group to a "hold" rating in a report on Wednesday, August 13th. Jefferies Financial Group cut Arch Capital Group from a "buy" rating to a "hold" rating and reduced their target price for the company from $106.00 to $100.00 in a report on Tuesday, June 10th. Finally, Cowen reissued a "buy" rating on shares of Arch Capital Group in a research report on Monday, August 4th. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Arch Capital Group has a consensus rating of "Hold" and an average target price of $109.36.

Arch Capital Group Stock Up 1.9%

Shares of NASDAQ:ACGL opened at $90.79 on Monday. The firm has a market cap of $33.88 billion, a PE ratio of 9.37, a price-to-earnings-growth ratio of 5.56 and a beta of 0.47. The company has a fifty day simple moving average of $90.01 and a 200 day simple moving average of $91.10. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16. Arch Capital Group Ltd. has a 12-month low of $82.49 and a 12-month high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.28. The company had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.29 billion. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. During the same period last year, the business earned $2.57 EPS. On average, equities research analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

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.

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