Janney Montgomery Scott LLC Reduces Holdings in Arch Capital Group Ltd. $ACGL

Key Points

• Janney Montgomery Scott LLC reduced its holdings in Arch Capital Group Ltd. by 3.3% during the second quarter, now owning 115,542 shares valued at approximately $10.52 million.
• Insider Maamoun Rajeh sold 10,000 shares of Arch Capital for about $941,500, reducing their stake by 2.25%, leaving them with 433,589 shares valued at approximately $40.82 million.
• Arch Capital Group's stock recently opened at $90.79, and it has seen a 1.9% increase in value, reflecting a strong market capitalization of $33.88 billion.

Janney Montgomery Scott LLC lessened its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,542 shares of the insurance provider's stock after selling 3,991 shares during the period. Janney Montgomery Scott LLC's holdings in Arch Capital Group were worth $10,520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. raised its stake in shares of Arch Capital Group by 116.3% during the 1st quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock valued at $27,000 after purchasing an additional 150 shares during the period. Bartlett & CO. Wealth Management LLC purchased a new stake in Arch Capital Group during the 1st quarter valued at about $27,000. Wayfinding Financial LLC purchased a new stake in Arch Capital Group in the 1st quarter worth approximately $31,000. Zions Bancorporation National Association UT purchased a new stake in Arch Capital Group in the 1st quarter worth approximately $37,000. Finally, Grove Bank & Trust bought a new position in shares of Arch Capital Group in the 1st quarter worth approximately $40,000. 89.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Arch Capital Group

In other Arch Capital Group 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 transaction of $941,500.00. Following the completion of the transaction, the insider owned 433,589 shares in the company, valued at approximately $40,822,404.35. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 4.20% of the company's stock.

Arch Capital Group Stock Up 1.9%

Arch Capital Group stock opened at $90.79 on Friday. The business has a fifty day moving average price of $90.01 and a 200-day moving average price of $91.11. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $33.88 billion, a price-to-earnings ratio of 9.37, a PEG ratio of 5.56 and a beta of 0.47. 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 announced its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates of $2.30 by $0.28. The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.29 billion. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%.During the same period in the prior year, the company earned $2.57 earnings per share. Equities research analysts forecast that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on ACGL shares. Weiss Ratings reissued a "hold (c+)" rating on shares of Arch Capital Group in a report on Saturday, September 27th. Cantor Fitzgerald raised Arch Capital Group to a "hold" rating in a report on Wednesday, August 13th. Citigroup started coverage on Arch Capital Group in a research report on Wednesday, August 13th. They issued a "buy" rating and a $113.00 price objective on the stock. Keefe, Bruyette & Woods lifted their target price on Arch Capital Group from $102.00 to $103.00 and gave the stock a "market perform" rating in a report on Thursday, August 14th. Finally, Cowen reissued a "buy" rating on shares of Arch Capital Group in a research note on Monday, August 4th. Eight research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Arch Capital Group has a consensus rating of "Hold" and an average price target of $109.36.

Arch Capital Group Company 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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