Rossby Financial LCC Invests $281,000 in Arch Capital Group Ltd. (NASDAQ:ACGL)

Rossby Financial LCC purchased a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,103 shares of the insurance provider's stock, valued at approximately $281,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ACGL. Capital A Wealth Management LLC acquired a new position in Arch Capital Group during the fourth quarter worth about $25,000. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Arch Capital Group during the first quarter worth about $27,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Arch Capital Group during the fourth quarter worth about $37,000. Grove Bank & Trust acquired a new position in shares of Arch Capital Group in the first quarter valued at approximately $40,000. Finally, Pinnacle Bancorp Inc. purchased a new position in shares of Arch Capital Group during the first quarter valued at approximately $59,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Stock Up 0.8%

Arch Capital Group stock traded up $0.69 during midday trading on Friday, hitting $89.07. The stock had a trading volume of 1,964,531 shares, compared to its average volume of 1,713,494. The business has a fifty day moving average price of $92.21 and a 200 day moving average price of $92.09. Arch Capital Group Ltd. has a 12 month low of $82.49 and a 12 month high of $116.47. The stock has a market cap of $33.38 billion, a P/E ratio of 9.13, a P/E/G ratio of 6.17 and a beta of 0.51. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share for the quarter, missing analysts' consensus estimates of $1.59 by ($0.05). The firm had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.75 billion. Arch Capital Group had a net margin of 20.72% and a return on equity of 15.79%. During the same quarter last year, the firm posted $2.45 earnings per share. Arch Capital Group's revenue was up 10.5% compared to the same quarter last year. Research analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Insider Activity

In other news, insider Louis T. Petrillo sold 16,650 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $94.53, for a total value of $1,573,924.50. Following the completion of the transaction, the insider owned 140,023 shares of the company's stock, valued at approximately $13,236,374.19. This represents a 10.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Francois Morin sold 12,630 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $94.58, for a total value of $1,194,545.40. Following the completion of the sale, the chief financial officer directly owned 274,681 shares in the company, valued at $25,979,328.98. This represents a 4.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,976 shares of company stock valued at $10,531,038. 4.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on ACGL. Jefferies Financial Group cut shares of Arch Capital Group from a "buy" rating to a "hold" rating and lowered their target price for the stock from $106.00 to $100.00 in a research note on Tuesday, June 10th. Barclays lowered their price objective on Arch Capital Group from $100.00 to $93.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Wells Fargo & Company increased their target price on Arch Capital Group from $106.00 to $108.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. JMP Securities reissued a "market outperform" rating and issued a $125.00 price objective on shares of Arch Capital Group in a research report on Wednesday, April 30th. Finally, Morgan Stanley set a $110.00 target price on Arch Capital Group and gave the company an "overweight" rating in a research note on Monday, May 19th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Arch Capital Group currently has a consensus rating of "Moderate Buy" and an average price target of $114.27.

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.