Janney Montgomery Scott LLC Has $23.27 Million Position in Arch Capital Group Ltd. $ACGL

Janney Montgomery Scott LLC boosted its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 7.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 242,405 shares of the insurance provider’s stock after purchasing an additional 17,672 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Arch Capital Group were worth $23,268,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Elyxium Wealth LLC acquired a new stake in shares of Arch Capital Group during the fourth quarter worth $27,000. WealthCollab LLC grew its stake in shares of Arch Capital Group by 410.3% in the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 238 shares in the last quarter. JPL Wealth Management LLC acquired a new position in shares of Arch Capital Group in the third quarter valued at about $28,000. Aventura Private Wealth LLC bought a new position in Arch Capital Group during the fourth quarter worth about $30,000. Finally, Grove Bank & Trust bought a new position in Arch Capital Group during the fourth quarter worth about $30,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Arch Capital Group Trading Up 0.5%

ACGL opened at $98.06 on Tuesday. The company has a market cap of $34.26 billion, a P/E ratio of 7.53, a PEG ratio of 4.88 and a beta of 0.32. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $93.67 and its 200-day moving average is $95.10. Arch Capital Group Ltd. has a 1-year low of $82.44 and a 1-year high of $103.39.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share (EPS) for the quarter. The business had revenue of $4.52 billion during the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. Equities research analysts predict that Arch Capital Group Ltd. will post 9.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Arch Capital Group from $109.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Keefe, Bruyette & Woods lowered their target price on shares of Arch Capital Group from $105.00 to $102.00 and set a “market perform” rating on the stock in a report on Tuesday, May 5th. Citigroup increased their price target on Arch Capital Group from $120.00 to $122.50 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Morgan Stanley set a $105.00 price objective on Arch Capital Group in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. reduced their target price on Arch Capital Group from $117.00 to $110.00 and set a “neutral” rating on the stock in a report on Monday, April 20th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $106.81.

Insiders Place Their Bets

In other news, Director Daniel Joseph Houston purchased 5,300 shares of the company’s stock in a transaction dated Thursday, April 30th. The stock was bought at an average cost of $94.08 per share, for a total transaction of $498,624.00. Following the purchase, the director owned 9,915 shares of the company’s stock, valued at approximately $932,803.20. The trade was a 114.84% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian S. Posner sold 3,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total value of $58,980.00. The SEC filing for this sale provides additional information. Insiders own 3.30% of the company’s stock.

Arch Capital Group 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.