Mainstay Capital Management LLC ADV Makes New Investment in Arch Capital Group Ltd. $ACGL

Key Points

• Mainstay Capital Management LLC ADV acquired a new position in Arch Capital Group Ltd. during the 2nd quarter, purchasing 3,986 shares valued at approximately $363,000.
• Several institutional investors, including Harbour Investments and Hemington Wealth Management, have increased their positions in Arch Capital Group, demonstrating a strong interest in the company's stock.
• Arch Capital Group reported earnings of $2.58 per share for the last quarter, exceeding analysts' expectations and reflecting a continuing strong performance in the insurance sector.

Mainstay Capital Management LLC ADV acquired a new position in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,986 shares of the insurance provider's stock, valued at approximately $363,000.

Several other hedge funds and other institutional investors have also bought and sold shares of ACGL. Harbour Investments Inc. increased its position in shares of Arch Capital Group by 8.4% during the 1st quarter. Harbour Investments Inc. now owns 1,431 shares of the insurance provider's stock valued at $138,000 after purchasing an additional 111 shares during the last quarter. Resonant Capital Advisors LLC increased its position in shares of Arch Capital Group by 1.7% during the 1st quarter. Resonant Capital Advisors LLC now owns 6,672 shares of the insurance provider's stock valued at $642,000 after purchasing an additional 113 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of Arch Capital Group by 0.9% during the 1st quarter. Venturi Wealth Management LLC now owns 13,228 shares of the insurance provider's stock valued at $1,272,000 after purchasing an additional 115 shares during the last quarter. Hemington Wealth Management increased its position in shares of Arch Capital Group by 27.7% during the 1st quarter. Hemington Wealth Management now owns 548 shares of the insurance provider's stock valued at $52,000 after purchasing an additional 119 shares during the last quarter. Finally, Horizon Advisory Services Inc. increased its position in shares of Arch Capital Group by 4.2% during the 1st quarter. Horizon Advisory Services Inc. now owns 2,996 shares of the insurance provider's stock valued at $288,000 after purchasing an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on ACGL. Cowen reiterated a "buy" rating on shares of Arch Capital Group in a research report on Monday, August 4th. UBS Group restated a "buy" rating and set a $118.00 target price (down from $124.00) on shares of Arch Capital Group in a report on Monday, August 4th. Cantor Fitzgerald upgraded Arch Capital Group to a "hold" rating in a report on Wednesday, August 13th. Weiss Ratings restated a "hold (c+)" rating on shares of Arch Capital Group in a report on Wednesday. Finally, Citigroup began coverage on Arch Capital Group in a report on Wednesday, August 13th. They set a "buy" rating and a $113.00 target price for the company. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $110.31.

Insider Activity 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 on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total value 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. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.20% of the company's stock.

Arch Capital Group Trading Down 0.9%

NASDAQ ACGL opened at $92.23 on Friday. Arch Capital Group Ltd. has a fifty-two week low of $82.49 and a fifty-two week high of $116.40. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a 50 day simple moving average of $90.54 and a two-hundred day simple moving average of $91.12. The stock has a market cap of $34.42 billion, a P/E ratio of 9.52, a price-to-earnings-growth ratio of 5.60 and a beta of 0.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.28. The business had revenue of $4.35 billion during the quarter, compared to analysts' expectations 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 quarter last year, the business posted $2.57 EPS. On average, analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current 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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