MGO One Seven LLC Buys 17,443 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• MGO One Seven LLC increased its stake in Arch Capital Group by 563.6% in the second quarter, acquiring an additional 17,443 shares and bringing its total holdings to 20,538 shares worth approximately $1.87 million.
• Arch Capital Group reported $2.58 earnings per share (EPS) in its latest quarterly earnings, surpassing analyst expectations of $2.30, with a revenue of $4.35 billion.
• Various analysts have rated Arch Capital Group, with eight giving a Buy rating, while the average target price for the stock stands at $108.71.

MGO One Seven LLC boosted its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 563.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,538 shares of the insurance provider's stock after acquiring an additional 17,443 shares during the period. MGO One Seven LLC's holdings in Arch Capital Group were worth $1,870,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC bought a new stake in Arch Capital Group in the first quarter valued at $27,000. Meeder Asset Management Inc. boosted its holdings in Arch Capital Group by 116.3% in the first quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock valued at $27,000 after acquiring an additional 150 shares in the last quarter. Wayfinding Financial LLC bought a new stake in Arch Capital Group in the first quarter valued at $31,000. Zions Bancorporation National Association UT bought a new stake in Arch Capital Group in the first quarter valued at $37,000. Finally, Grove Bank & Trust bought a new stake in Arch Capital Group in the first quarter valued at $40,000. Institutional investors own 89.07% of the company's stock.

Insiders Place Their Bets

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 value of $941,500.00. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.10% of the company's stock.

Arch Capital Group Price Performance

ACGL opened at $92.23 on Wednesday. The stock has a 50-day moving average price of $90.77 and a 200-day moving average price of $91.02. 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 firm has a market cap of $34.42 billion, a PE ratio of 9.52, a P/E/G ratio of 5.40 and a beta of 0.47. Arch Capital Group Ltd. has a 1 year low of $82.49 and a 1 year high of $111.34.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.28. The firm had revenue of $4.35 billion during 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 quarter in the previous year, the firm earned $2.57 EPS. Sell-side analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ACGL shares. Citigroup initiated coverage on shares of Arch Capital Group in a report on Wednesday, August 13th. They issued a "buy" rating and a $113.00 price target on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Arch Capital Group from $102.00 to $103.00 and gave the company a "market perform" rating in a report on Thursday, August 14th. Cowen restated a "buy" rating on shares of Arch Capital Group in a report on Monday, August 4th. Wells Fargo & Company boosted their target price on shares of Arch Capital Group from $107.00 to $111.00 and gave the company an "overweight" rating in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group set a $88.00 target price on shares of Arch Capital Group and gave the company a "sell" rating in a report on Tuesday. Eight equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $108.71.

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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