Janney Montgomery Scott LLC Acquires 17,672 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• Janney Montgomery Scott LLC boosted its stake in Arch Capital Group by 7.9% in the first quarter, buying 17,672 additional shares and bringing its total holdings to 242,405 shares worth about $23.3 million.
• Institutional ownership remains high, with hedge funds and other institutions continuing to add to positions, while insiders were active as well: Director Daniel Joseph Houston bought 5,300 shares and Director Brian S. Posner sold 3,000 shares.
• Analysts are mixed on ACGL, with an overall Hold rating and an average price target of $106.81. The stock recently opened at $98.06, near the middle of its 52-week range of $82.44 to $103.39.

Janney Montgomery Scott LLC increased its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 7.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 242,405 shares of the insurance provider's stock after purchasing an additional 17,672 shares during the quarter. Janney Montgomery Scott LLC owned 0.07% of Arch Capital Group worth $23,268,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Geneos Wealth Management Inc. raised its holdings in shares of 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 acquiring an additional 412 shares during the period. Sivia Capital Partners LLC acquired a new position in Arch Capital Group in the 2nd quarter worth $253,000. CW Advisors LLC increased its holdings in 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 purchasing an additional 189 shares in the last quarter. Jump Financial LLC bought a new position in Arch Capital Group during the 2nd quarter worth about $667,000. Finally, Cerity Partners LLC raised its stake 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 valued at $4,324,000 after purchasing an additional 4,933 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Arch Capital Group

In related news, Director Daniel Joseph Houston acquired 5,300 shares of the firm's stock in a transaction on Thursday, April 30th. The shares were purchased at an average cost of $94.08 per share, for a total transaction of $498,624.00. Following the completion of the acquisition, the director directly owned 9,915 shares in the company, valued at approximately $932,803.20. This trade represents a 114.84% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Brian S. Posner sold 3,000 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total transaction of $58,980.00. Additional details regarding this sale are available in the official SEC disclosure. 3.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ACGL shares. Mizuho cut their price target on Arch Capital Group from $102.00 to $101.00 and set a "neutral" rating on the stock in a report on Tuesday, May 5th. Citigroup increased their price objective on Arch Capital Group from $120.00 to $122.50 and gave the stock a "buy" rating in a report on Thursday, April 30th. Keefe, Bruyette & Woods dropped their target price on Arch Capital Group from $105.00 to $102.00 and set a "market perform" rating on the stock in a research report on Tuesday, May 5th. Wells Fargo & Company boosted their target price on Arch Capital Group from $109.00 to $110.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. reduced their price target on Arch Capital Group from $117.00 to $110.00 and set a "neutral" rating for the company in a research report on Monday, April 20th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Arch Capital Group presently has an average rating of "Hold" and an average price target of $106.81.

Arch Capital Group Stock Performance

Shares of NASDAQ ACGL opened at $98.06 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.15. Arch Capital Group Ltd. has a 12 month low of $82.44 and a 12 month high of $103.39. The stock has a 50 day moving average of $93.67 and a 200-day moving average of $95.10. The company has a market capitalization of $34.26 billion, a P/E ratio of 7.53, a P/E/G ratio of 4.88 and a beta of 0.32.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share for the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%.The business had revenue of $4.52 billion for the quarter. As a group, equities research analysts predict that Arch Capital Group Ltd. will post 9.3 EPS for the current year.

About Arch Capital Group

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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