Procyon Advisors LLC Acquires 687 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Procyon Advisors LLC increased its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 8.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,264 shares of the insurance provider’s stock after acquiring an additional 687 shares during the quarter. Procyon Advisors LLC’s holdings in Arch Capital Group were worth $1,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. UMB Bank n.a. bought a new position in shares of Arch Capital Group in the 2nd quarter worth about $30,000. Baldwin Brothers LLC MA increased its stake in Arch Capital Group by 50.7% during the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 104 shares in the last quarter. Rothschild Investment LLC bought a new stake in Arch Capital Group during the 2nd quarter valued at about $35,000. LRI Investments LLC bought a new stake in Arch Capital Group during the 1st quarter valued at about $40,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in Arch Capital Group during the 3rd quarter valued at about $46,000. 89.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 221,779 shares of the company’s stock, valued at $22,723,476.34. This represents a 0.00 % decrease in their position. The transaction 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 insiders.

Analyst Upgrades and Downgrades

ACGL has been the subject of a number of analyst reports. Royal Bank of Canada raised their price objective on shares of Arch Capital Group from $108.00 to $112.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Roth Mkm lifted their price target on shares of 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 lifted their price target on shares of Arch Capital Group from $119.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company lifted their price target on shares of Arch Capital Group from $110.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, JMP Securities lifted their price target on shares of 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. Five 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $118.87.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL opened at $111.09 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.60. Arch Capital Group Ltd. has a 1-year low of $72.85 and a 1-year high of $116.47. The company has a market capitalization of $41.71 billion, a P/E ratio of 8.77, a P/E/G ratio of 2.03 and a beta of 0.59. The firm’s 50 day simple moving average is $109.21 and its two-hundred day simple moving average is $101.51.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results 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. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The business had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the firm earned $1.92 earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. Research analysts expect that Arch Capital Group Ltd. will post 9.11 EPS 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.