Strid Group LLC Grows Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

Strid Group LLC lifted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 54.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,105 shares of the insurance provider's stock after purchasing an additional 4,595 shares during the period. Arch Capital Group comprises 0.2% of Strid Group LLC's investment portfolio, making the stock its 24th biggest position. Strid Group LLC's holdings in Arch Capital Group were worth $1,260,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ACGL. Capital A Wealth Management LLC purchased a new stake in shares of 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 Arch Capital Group during the 4th quarter valued at about $37,000. Grove Bank & Trust purchased a new stake in Arch Capital Group during the 1st quarter valued at about $40,000. Finally, Quarry LP purchased a new stake in Arch Capital Group during the 4th quarter valued at about $58,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Barclays dropped their price objective on shares of Arch Capital Group from $100.00 to $93.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. JMP Securities reiterated a "market outperform" rating and set a $125.00 target price on shares of Arch Capital Group in a report on Wednesday, April 30th. Jefferies Financial Group lowered shares of Arch Capital Group from a "buy" rating to a "hold" rating and reduced their price objective for the company from $106.00 to $100.00 in a report on Tuesday, June 10th. Wells Fargo & Company increased their target price on shares of Arch Capital Group from $106.00 to $108.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. increased their target price on shares of Arch Capital Group from $106.00 to $107.00 and gave the company a "neutral" rating in a research report on Tuesday, April 8th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $114.63.

Insiders Place Their Bets

In other Arch Capital Group news, CFO Francois Morin sold 12,630 shares of Arch Capital Group stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $94.58, for a total transaction of $1,194,545.40. Following the completion of the transaction, the chief financial officer now owns 274,681 shares in the company, valued at approximately $25,979,328.98. The trade was a 4.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nicolas Papadopoulo sold 7,636 shares of Arch Capital Group stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $92.48, for a total transaction of $706,177.28. Following the transaction, the chief executive officer now owns 795,718 shares of the company's stock, valued at approximately $73,588,000.64. The trade was a 0.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 111,976 shares of company stock worth $10,531,038. Insiders own 4.20% of the company's stock.

Arch Capital Group Stock Up 0.0%

Shares of NASDAQ ACGL opened at $90.32 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16. Arch Capital Group Ltd. has a 52 week low of $82.49 and a 52 week high of $116.47. The firm has a 50-day moving average price of $92.39 and a 200 day moving average price of $92.18. The stock has a market capitalization of $33.85 billion, a price-to-earnings ratio of 9.25, a price-to-earnings-growth ratio of 6.24 and a beta of 0.53.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The insurance provider reported $1.54 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.05). Arch Capital Group had a net margin of 20.72% and a return on equity of 15.79%. The company had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.75 billion. During the same quarter last year, the business earned $2.45 EPS. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. Equities research analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

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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