Wright Investors Service Inc. Sells 2,265 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Wright Investors Service Inc. trimmed its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 8.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,375 shares of the insurance provider's stock after selling 2,265 shares during the quarter. Wright Investors Service Inc.'s holdings in Arch Capital Group were worth $2,459,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of ACGL. Bensler LLC grew its stake in shares of Arch Capital Group by 2.4% during the second quarter. Bensler LLC now owns 18,795 shares of the insurance provider's stock valued at $1,896,000 after buying an additional 448 shares during the last quarter. State of Michigan Retirement System boosted its holdings in Arch Capital Group by 6.9% during the 2nd quarter. State of Michigan Retirement System now owns 108,700 shares of the insurance provider's stock valued at $10,967,000 after acquiring an additional 7,000 shares during the period. AlphaCentric Advisors LLC grew its position in Arch Capital Group by 23.9% in the 2nd quarter. AlphaCentric Advisors LLC now owns 3,710 shares of the insurance provider's stock valued at $374,000 after acquiring an additional 715 shares during the last quarter. Townsend Asset Management Corp NC ADV purchased a new stake in Arch Capital Group in the second quarter worth $208,000. Finally, Everhart Financial Group Inc. lifted its position in shares of Arch Capital Group by 36.7% during the second quarter. Everhart Financial Group Inc. now owns 5,492 shares of the insurance provider's stock worth $554,000 after purchasing an additional 1,475 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ACGL shares. Roth Mkm raised their target price on shares of Arch Capital Group from $110.00 to $125.00 and gave the stock a "buy" rating in a research report on Friday, August 23rd. StockNews.com downgraded Arch Capital Group from a "buy" rating to a "hold" rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods upped their target price on Arch Capital Group from $120.00 to $121.00 and gave the stock an "outperform" rating in a report on Wednesday, August 7th. JMP Securities raised their price target on Arch Capital Group from $110.00 to $115.00 and gave the company a "market outperform" rating in a research note on Wednesday, July 31st. Finally, Evercore ISI lifted their price objective on Arch Capital Group from $100.00 to $104.00 and gave the company an "in-line" rating in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.50.

Insider Buying and Selling

In other news, CFO Francois Morin sold 11,460 shares of the business's stock in a transaction 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 sale, the chief financial officer now directly owns 221,779 shares of the company's stock, valued at $22,723,476.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.20% of the stock is owned by company insiders.

Arch Capital Group Stock Up 0.3 %

NASDAQ:ACGL traded up $0.33 during midday trading on Wednesday, reaching $111.01. 990,497 shares of the stock traded hands, compared to its average volume of 1,627,299. The stock has a market capitalization of $41.68 billion, a PE ratio of 8.76, a price-to-earnings-growth ratio of 1.86 and a beta of 0.58. Arch Capital Group Ltd. has a 12-month low of $72.85 and a 12-month high of $111.56. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.60 and a current ratio of 0.60. The business has a 50-day moving average of $99.81 and a two-hundred day moving average of $95.88.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.36. The firm had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.89 billion. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.92 EPS. On average, equities analysts forecast that Arch Capital Group Ltd. will post 9 earnings per share for the current fiscal year.

Arch Capital Group 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.

Want to see what other hedge funds are holding ACGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.