Synergy Asset Management LLC Reduces Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Synergy Asset Management LLC trimmed its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 18.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,601 shares of the insurance provider's stock after selling 27,390 shares during the quarter. Arch Capital Group makes up about 1.9% of Synergy Asset Management LLC's portfolio, making the stock its 13th biggest holding. Synergy Asset Management LLC's holdings in Arch Capital Group were worth $12,067,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ACGL. UMB Bank n.a. acquired a new stake in shares of Arch Capital Group in the second quarter valued at 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 worth $31,000 after buying an additional 104 shares in the last quarter. Rothschild Investment LLC purchased a new stake in Arch Capital Group during the 2nd quarter worth approximately $35,000. LRI Investments LLC purchased a new position in shares of Arch Capital Group in the first quarter valued at approximately $40,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of Arch Capital Group in the fourth quarter worth approximately $33,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Arch Capital Group 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 value of $1,174,191.60. Following the completion of the transaction, the chief financial officer now owns 221,779 shares in the company, valued at $22,723,476.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Royal Bank of Canada increased their price objective on Arch Capital Group from $108.00 to $112.00 and gave the company an "outperform" rating in a research note on Thursday, August 1st. Wells Fargo & Company decreased their price target on shares of Arch Capital Group from $111.00 to $110.00 and set an "overweight" rating on the stock in a research note on Monday, August 12th. StockNews.com cut shares of Arch Capital Group from a "buy" rating to a "hold" rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft boosted their target price on Arch Capital Group from $110.00 to $120.00 and gave the stock a "buy" rating in a report on Monday, July 1st. Finally, Bank of America cut their price target on Arch Capital Group from $119.00 to $118.00 and set a "buy" rating for the company in a report on Thursday, July 11th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $107.44.

Arch Capital Group Trading Down 1.6 %

Shares of NASDAQ ACGL traded down $1.74 during trading on Friday, reaching $110.45. The stock had a trading volume of 1,211,501 shares, compared to its average volume of 1,627,596. 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 company has a market cap of $41.47 billion, a P/E ratio of 8.72, a PEG ratio of 2.05 and a beta of 0.60. Arch Capital Group Ltd. has a fifty-two week low of $72.85 and a fifty-two week high of $114.65. The business's 50-day moving average price is $101.36 and its 200-day moving average price is $97.13.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the prior year, the firm earned $1.92 earnings per share. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities research analysts predict that Arch Capital Group Ltd. will post 9.01 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.