Confluence Investment Management LLC Cuts Stake in Arch Capital Group Ltd. $ACGL

Confluence Investment Management LLC trimmed its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 8.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 333,833 shares of the insurance provider’s stock after selling 30,253 shares during the quarter. Confluence Investment Management LLC’s holdings in Arch Capital Group were worth $32,402,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geneos Wealth Management Inc. raised its stake in Arch Capital Group by 157.9% during the first quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider’s stock worth $65,000 after purchasing an additional 412 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Arch Capital Group during the 2nd quarter valued at $253,000. CW Advisors LLC grew its stake in shares of Arch Capital Group by 6.5% during the 2nd quarter. CW Advisors LLC now owns 3,098 shares of the insurance provider’s stock valued at $282,000 after buying an additional 189 shares during the period. Jump Financial LLC acquired a new stake in shares of Arch Capital Group during the 2nd quarter worth $667,000. Finally, Cerity Partners LLC increased its holdings in shares of Arch Capital Group by 11.6% during the 2nd quarter. Cerity Partners LLC now owns 47,486 shares of the insurance provider’s stock worth $4,324,000 after buying an additional 4,933 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ACGL. Morgan Stanley lifted their target price on Arch Capital Group from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, July 6th. JPMorgan Chase & Co. upped their price target on Arch Capital Group from $110.00 to $116.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. UBS Group restated a “buy” rating and issued a $120.00 price objective (up from $114.00) on shares of Arch Capital Group in a report on Wednesday, July 8th. Wells Fargo & Company lifted their price objective on Arch Capital Group from $114.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Finally, Atlantic Securities set a $126.00 target price on Arch Capital Group in a report on Wednesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $110.96.

Arch Capital Group Trading Up 0.6%

Shares of ACGL opened at $101.12 on Tuesday. Arch Capital Group Ltd. has a 12 month low of $82.44 and a 12 month high of $107.08. The stock’s 50-day moving average is $96.60 and its two-hundred day moving average is $96.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.57 and a quick ratio of 0.55. The stock has a market cap of $35.33 billion, a PE ratio of 7.91, a P/E/G ratio of 10.63 and a beta of 0.31.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.09. The business had revenue of $8.72 billion during the quarter, compared to analyst estimates of $4.36 billion. Arch Capital Group had a return on equity of 17.06% and a net margin of 24.40%.During the same quarter last year, the firm earned $2.58 earnings per share. Equities analysts forecast that Arch Capital Group Ltd. will post 9.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arch Capital Group news, Director Brian S. Posner sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total value of $58,980.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.30% of the stock is currently owned by corporate insiders.

Arch Capital Group Company Profile

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.