Chevy Chase Trust Holdings LLC Reduces Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Chevy Chase Trust Holdings LLC trimmed its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 206,424 shares of the insurance provider’s stock after selling 1,265 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Arch Capital Group worth $20,826,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Baldwin Brothers LLC MA increased its holdings in Arch Capital Group by 50.7% in the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 104 shares during the last quarter. Larson Financial Group LLC bought a new stake in Arch Capital Group in the 4th quarter valued at $30,000. LRI Investments LLC bought a new stake in Arch Capital Group in the 1st quarter valued at $40,000. Richardson Financial Services Inc. bought a new stake in Arch Capital Group in the 4th quarter valued at $33,000. Finally, Versant Capital Management Inc increased its holdings in Arch Capital Group by 40.3% in the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider’s stock valued at $46,000 after acquiring an additional 131 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Arch Capital Group Stock Down 0.2 %

Shares of NASDAQ ACGL traded down $0.20 during trading hours on Tuesday, hitting $102.80. 700,623 shares of the stock were exchanged, compared to its average volume of 1,642,459. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16. The company has a market cap of $38.66 billion, a PE ratio of 8.11, a PEG ratio of 1.83 and a beta of 0.58. The firm has a fifty day moving average price of $98.71 and a 200-day moving average price of $94.91. Arch Capital Group Ltd. has a 12 month low of $72.85 and a 12 month high of $103.79.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.21 by $0.36. The firm had revenue of $3.78 billion during 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%. Arch Capital Group’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.92 EPS. On average, sell-side analysts expect that Arch Capital Group Ltd. will post 9 EPS for the current year.

Insider Buying and Selling

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the company’s stock in a transaction that occurred 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 owns 221,779 shares in the company, valued at approximately $22,723,476.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ACGL. StockNews.com cut shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Evercore ISI lifted their price target on shares of Arch Capital Group from $100.00 to $104.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price objective on shares of Arch Capital Group from $106.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Bank of America lowered their price objective on shares of Arch Capital Group from $119.00 to $118.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Finally, Wells Fargo & Company lowered their price objective on shares of Arch Capital Group from $111.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Arch Capital Group currently has an average rating of “Moderate Buy” and a consensus target price of $105.56.

About Arch Capital Group

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.