Arch Capital Group Ltd. (NASDAQ:ACGL) Holdings Raised by Millington Financial Advisors LLC

Millington Financial Advisors LLC lifted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,464 shares of the insurance provider’s stock after purchasing an additional 267 shares during the quarter. Millington Financial Advisors LLC’s holdings in Arch Capital Group were worth $1,459,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Arch Capital Group by 0.3% during the first quarter. Vanguard Group Inc. now owns 40,858,890 shares of the insurance provider’s stock worth $3,776,996,000 after acquiring an additional 104,008 shares during the period. Capital World Investors grew its holdings in Arch Capital Group by 0.6% during the fourth quarter. Capital World Investors now owns 10,611,092 shares of the insurance provider’s stock worth $788,086,000 after acquiring an additional 58,862 shares during the period. Principal Financial Group Inc. grew its holdings in Arch Capital Group by 4.4% during the second quarter. Principal Financial Group Inc. now owns 7,100,952 shares of the insurance provider’s stock worth $716,415,000 after acquiring an additional 300,716 shares during the period. Davis Asset Management L.P. grew its holdings in Arch Capital Group by 441.7% during the fourth quarter. Davis Asset Management L.P. now owns 6,500,000 shares of the insurance provider’s stock worth $482,755,000 after acquiring an additional 5,300,000 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Arch Capital Group by 1.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,907,122 shares of the insurance provider’s stock worth $546,054,000 after acquiring an additional 99,329 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the transaction, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at $22,723,476.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.20% of the stock is owned by company insiders.

Arch Capital Group Stock Up 0.2 %

Shares of ACGL traded up $0.28 during midday trading on Friday, reaching $113.09. 2,739,205 shares of the stock were exchanged, compared to its average volume of 1,632,213. The company has a market cap of $42.46 billion, a price-to-earnings ratio of 8.93, a P/E/G ratio of 1.86 and a beta of 0.58. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16. Arch Capital Group Ltd. has a 12-month low of $72.85 and a 12-month high of $113.66. The firm has a 50 day simple moving average of $100.24 and a 200-day simple moving average of $96.21.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.36. The firm had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.92 earnings per share. Research analysts forecast that Arch Capital Group Ltd. will post 9 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ACGL. Evercore ISI lifted their target price on Arch Capital Group from $100.00 to $104.00 and gave the stock an “in-line” rating in a report on Wednesday, July 31st. Roth Mkm lifted their price target on Arch Capital Group from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Bank of America dropped their price target on Arch Capital Group from $119.00 to $118.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. JMP Securities lifted their price target on Arch Capital Group from $110.00 to $115.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lifted their price target on Arch Capital Group from $106.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $106.50.

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.