Arch Capital Group Ltd. $ACGL Shares Sold by Confluence Investment Management LLC

Key Points

• Confluence Investment Management reduced its Arch Capital Group stake by 8.3% in the second quarter, selling 30,253 shares and retaining 333,833 shares valued at approximately $32.4 million. Institutional investors collectively own 89.07% of ACGL.
• Arch Capital reported quarterly earnings of $2.56 per share, exceeding the $2.47 consensus estimate, while revenue reached $8.72 billion. Analysts project full-year earnings of $9.36 per share.
• Analyst sentiment is mixed but generally positive, with an average rating of “Hold” and a consensus price target of $110.96. ACGL recently opened at $101.12, near the midpoint of its 52-week range.

Confluence Investment Management LLC decreased its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 8.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 333,833 shares of the insurance provider's stock after selling 30,253 shares during the quarter. Confluence Investment Management LLC owned 0.10% of Arch Capital Group worth $32,402,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Geneos Wealth Management Inc. boosted its position in Arch Capital Group by 157.9% during the first quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider's stock worth $65,000 after purchasing an additional 412 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Arch Capital Group during the 2nd quarter worth $253,000. CW Advisors LLC raised its stake in shares of Arch Capital Group by 6.5% during the 2nd quarter. CW Advisors LLC now owns 3,098 shares of the insurance provider's stock worth $282,000 after buying an additional 189 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Arch Capital Group in the 2nd quarter worth about $667,000. Finally, Cerity Partners LLC boosted its position in shares of Arch Capital Group by 11.6% in the 2nd quarter. Cerity Partners LLC now owns 47,486 shares of the insurance provider's stock worth $4,324,000 after buying an additional 4,933 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Insider Activity

In other news, Director Brian S. Posner sold 3,000 shares of Arch Capital Group stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total value of $58,980.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ACGL shares. Morgan Stanley raised their target price on shares of Arch Capital Group from $105.00 to $110.00 and gave the company an "overweight" rating in a report on Monday, July 6th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $120.00 price target (up from $115.00) on shares of Arch Capital Group in a report on Thursday. Citigroup reiterated a "market outperform" rating on shares of Arch Capital Group in a research report on Wednesday, July 29th. Atlantic Securities set a $126.00 price objective on shares of Arch Capital Group in a research note on Wednesday, July 15th. Finally, Mizuho lifted their price objective on Arch Capital Group from $101.00 to $104.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $110.96.

Arch Capital Group Stock Performance

Shares of ACGL opened at $101.12 on Tuesday. Arch Capital Group Ltd. has a 1 year low of $82.44 and a 1 year high of $107.08. The company's 50 day simple moving average is $96.60 and its 200 day simple moving average is $96.20. The company has a market capitalization of $35.33 billion, a price-to-earnings ratio of 7.91, a PEG ratio of 10.63 and a beta of 0.31. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.55 and a current ratio of 0.57.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its earnings results on Tuesday, July 28th. The insurance provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.47 by $0.09. The firm had revenue of $8.72 billion during the quarter, compared to analysts' expectations of $4.36 billion. Arch Capital Group had a net margin of 24.40% and a return on equity of 17.06%. During the same period in the previous year, the company earned $2.58 EPS. On average, sell-side analysts predict that Arch Capital Group Ltd. will post 9.36 EPS for the current year.

Arch Capital Group Company Profile

Arch Capital Group Ltd. NASDAQ: ACGL is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch's product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.

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