Empirical Asset Management LLC Buys 829 Shares of Arch Capital Group Ltd. $ACGL

Empirical Asset Management LLC raised its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 16.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,907 shares of the insurance provider’s stock after purchasing an additional 829 shares during the period. Empirical Asset Management LLC’s holdings in Arch Capital Group were worth $538,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. S Bank Fund Management Ltd bought a new position in shares of Arch Capital Group during the 2nd quarter worth about $701,000. Generali Asset Management SPA SGR lifted its holdings in shares of Arch Capital Group by 76.8% during the 2nd quarter. Generali Asset Management SPA SGR now owns 28,864 shares of the insurance provider’s stock worth $2,628,000 after acquiring an additional 12,538 shares during the period. Bayforest Capital Ltd lifted its holdings in shares of Arch Capital Group by 25.8% during the 2nd quarter. Bayforest Capital Ltd now owns 4,887 shares of the insurance provider’s stock worth $445,000 after acquiring an additional 1,003 shares during the period. Equitable Trust Co. lifted its holdings in shares of Arch Capital Group by 2.9% during the 2nd quarter. Equitable Trust Co. now owns 36,652 shares of the insurance provider’s stock worth $3,337,000 after acquiring an additional 1,016 shares during the period. Finally, Axxcess Wealth Management LLC lifted its holdings in shares of Arch Capital Group by 2.5% during the 2nd quarter. Axxcess Wealth Management LLC now owns 71,180 shares of the insurance provider’s stock worth $6,481,000 after acquiring an additional 1,712 shares during the period. 89.07% of the stock is owned by institutional investors.

Insider Buying and Selling at Arch Capital Group

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 shares were sold at an average price of $94.15, for a total value of $941,500.00. Following the completion of the transaction, the insider directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ACGL. Wells Fargo & Company raised their price objective on shares of Arch Capital Group from $107.00 to $111.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Wolfe Research began coverage on shares of Arch Capital Group in a report on Monday, September 15th. They set a “peer perform” rating for the company. Barclays set a $99.00 price objective on shares of Arch Capital Group and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. The Goldman Sachs Group set a $88.00 target price on shares of Arch Capital Group and gave the stock a “sell” rating in a research report on Tuesday. Finally, Citigroup started coverage on shares of Arch Capital Group in a research report on Wednesday, August 13th. They set a “buy” rating and a $113.00 target price for the company. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $108.71.

Arch Capital Group Trading Up 0.3%

Shares of Arch Capital Group stock opened at $86.51 on Friday. The stock has a market capitalization of $32.29 billion, a P/E ratio of 8.93, a price-to-earnings-growth ratio of 4.99 and a beta of 0.47. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16. The company has a 50-day simple moving average of $90.67 and a 200 day simple moving average of $90.88. Arch Capital Group Ltd. has a 12-month low of $82.49 and a 12-month high of $109.61.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.28. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. The firm had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same quarter last year, the company posted $2.57 EPS. Research analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share 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.