Confluence Investment Management LLC Reduces Stake in Arch Capital Group Ltd. $ACGL

Key Points

• Confluence Investment Management LLC reduced its stake in Arch Capital Group Ltd. by 1.1%, owning 396,398 shares valued at approximately $36.1 million after selling 4,299 shares in the second quarter.
• Analysts have mixed ratings for Arch Capital Group, with Citigroup maintaining a buy rating and setting a target price of $113.00, while others have lowered their price targets.
• Arch Capital Group reported $2.58 earnings per share for the last quarter, exceeding estimates, with a market capitalization of $34.43 billion.

Confluence Investment Management LLC cut its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 1.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 396,398 shares of the insurance provider's stock after selling 4,299 shares during the quarter. Confluence Investment Management LLC owned 0.11% of Arch Capital Group worth $36,092,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital A Wealth Management LLC purchased a new position in shares of Arch Capital Group during the fourth quarter worth $25,000. Bartlett & CO. Wealth Management LLC acquired a new stake in Arch Capital Group during the 1st quarter worth about $27,000. Meeder Asset Management Inc. grew its position in Arch Capital Group by 116.3% during the 1st quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock worth $27,000 after purchasing an additional 150 shares during the period. Wayfinding Financial LLC purchased a new position in shares of Arch Capital Group during the 1st quarter valued at about $31,000. Finally, Zions Bancorporation National Association UT acquired a new position in shares of Arch Capital Group in the 1st quarter valued at about $37,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on ACGL. Citigroup assumed coverage on Arch Capital Group in a report on Wednesday, August 13th. They set a "buy" rating and a $113.00 target price on the stock. Jefferies Financial Group lowered Arch Capital Group from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $106.00 to $100.00 in a research report on Tuesday, June 10th. Cowen reaffirmed a "buy" rating on shares of Arch Capital Group in a report on Monday, August 4th. Wells Fargo & Company decreased their target price on shares of Arch Capital Group from $110.00 to $107.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Finally, UBS Group restated a "buy" rating and set a $118.00 price target (down previously from $124.00) on shares of Arch Capital Group in a research report on Monday, August 4th. Nine research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $111.27.

Insider Transactions at Arch Capital Group

In related news, insider Maamoun Rajeh sold 10,000 shares of Arch Capital Group stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $94.15, for a total value of $941,500.00. Following the sale, the insider directly owned 433,589 shares in the company, valued at approximately $40,822,404.35. The trade was a 2.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 4.20% of the company's stock.

Arch Capital Group Price Performance

Arch Capital Group stock opened at $92.26 on Friday. The stock has a market capitalization of $34.43 billion, a P/E ratio of 9.52, a P/E/G ratio of 5.65 and a beta of 0.51. The company's fifty day moving average price is $89.83 and its 200 day moving average price is $91.37. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. Arch Capital Group Ltd. has a 1 year low of $82.49 and a 1 year high of $116.47.

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

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.

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