Chesapeake Capital Corp IL Reduces Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Chesapeake Capital Corp IL decreased its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 50.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,953 shares of the insurance provider’s stock after selling 4,005 shares during the period. Chesapeake Capital Corp IL’s holdings in Arch Capital Group were worth $399,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Andra AP fonden purchased a new stake in Arch Capital Group in the second quarter worth about $13,075,000. Choreo LLC bought a new position in shares of Arch Capital Group during the second quarter valued at approximately $2,802,000. Wedbush Securities Inc. increased its holdings in Arch Capital Group by 27.0% during the second quarter. Wedbush Securities Inc. now owns 9,803 shares of the insurance provider’s stock valued at $989,000 after buying an additional 2,086 shares during the period. Prudential PLC increased its holdings in Arch Capital Group by 8.9% during the second quarter. Prudential PLC now owns 143,839 shares of the insurance provider’s stock valued at $14,512,000 after buying an additional 11,794 shares during the period. Finally, Mount Lucas Management LP raised its stake in Arch Capital Group by 52.1% in the second quarter. Mount Lucas Management LP now owns 58,403 shares of the insurance provider’s stock worth $5,892,000 after buying an additional 19,995 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Francois Morin sold 11,460 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $102.46, for a total value 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.20% of the stock is owned by company insiders.

Arch Capital Group Stock Performance

Arch Capital Group stock opened at $111.73 on Tuesday. Arch Capital Group Ltd. has a 1-year low of $72.85 and a 1-year high of $114.65. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a market cap of $41.95 billion, a price-to-earnings ratio of 8.82, a price-to-earnings-growth ratio of 2.00 and a beta of 0.59. The firm has a 50 day simple moving average of $101.58 and a 200-day simple moving average of $97.49.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The company had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the previous year, the company earned $1.92 earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, analysts expect that Arch Capital Group Ltd. will post 9.01 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on ACGL shares. JPMorgan Chase & Co. boosted their price objective on shares of Arch Capital Group from $106.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Wells Fargo & Company lowered their price objective on Arch Capital Group from $111.00 to $110.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Evercore ISI increased 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 report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft increased their target price on shares of Arch Capital Group from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Finally, Royal Bank of Canada boosted their price objective on Arch Capital Group from $108.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $109.27.

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.