Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 9,245 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• Empirical Financial Services LLC reduced its holdings in Arch Capital Group by 11.9%, selling 9,245 shares during the second quarter, leaving them with 68,419 shares worth approximately $6,230,000.
• Insider Maamoun Rajeh sold 10,000 shares at an average price of $94.15, decreasing his ownership by 2.25%, though he still retains 433,589 shares valued at around $40.8 million.
• Arch Capital Group's stock recently opened at $89.08 and reported a quarterly EPS of $2.58, exceeding analysts' estimates by $0.28, with a consensus target price of $109.36.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management reduced its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 11.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,419 shares of the insurance provider's stock after selling 9,245 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Arch Capital Group were worth $6,230,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Arch Capital Group by 14.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,804 shares of the insurance provider's stock worth $4,924,000 after buying an additional 6,406 shares during the last quarter. DAVENPORT & Co LLC purchased a new position in shares of Arch Capital Group in the 1st quarter valued at approximately $251,000. D.A. Davidson & CO. lifted its stake in shares of Arch Capital Group by 10.9% in the 1st quarter. D.A. Davidson & CO. now owns 45,552 shares of the insurance provider's stock valued at $4,381,000 after purchasing an additional 4,460 shares during the period. Crossmark Global Holdings Inc. lifted its stake in shares of Arch Capital Group by 24.7% in the 1st quarter. Crossmark Global Holdings Inc. now owns 37,625 shares of the insurance provider's stock valued at $3,619,000 after purchasing an additional 7,448 shares during the period. Finally, World Investment Advisors lifted its stake in shares of Arch Capital Group by 114.1% in the 1st quarter. World Investment Advisors now owns 6,321 shares of the insurance provider's stock valued at $608,000 after purchasing an additional 3,369 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, insider Maamoun Rajeh sold 10,000 shares of the business's stock in a transaction dated 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 sale, the insider owned 433,589 shares of the company's stock, valued at approximately $40,822,404.35. The trade was a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.20% of the stock is owned by insiders.

Arch Capital Group Stock Performance

Shares of ACGL opened at $89.08 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56. Arch Capital Group Ltd. has a one year low of $82.49 and a one year high of $116.47. The firm has a market capitalization of $33.25 billion, a P/E ratio of 9.19, a PEG ratio of 5.53 and a beta of 0.47. The business has a fifty day moving average of $89.97 and a 200 day moving average of $91.15.

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

Analysts Set New Price Targets

ACGL has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their target price on 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. Jefferies Financial Group cut Arch Capital Group from a "buy" rating to a "hold" rating and lowered their target price for the company from $106.00 to $100.00 in a research note on Tuesday, June 10th. Citigroup initiated coverage on Arch Capital Group in a research note on Wednesday, August 13th. They issued a "buy" rating and a $113.00 target price for the company. Cantor Fitzgerald upgraded Arch Capital Group to a "hold" rating in a research note on Wednesday, August 13th. Finally, Keefe, Bruyette & Woods lifted their price objective on Arch Capital Group from $102.00 to $103.00 and gave the company a "market perform" rating in a research note on Thursday, August 14th. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $109.36.

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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