Arch Capital Group Ltd. (NASDAQ:ACGL) Shares Bought by Denali Advisors LLC

Denali Advisors LLC grew its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 207.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,120 shares of the insurance provider's stock after acquiring an additional 4,805 shares during the period. Denali Advisors LLC's holdings in Arch Capital Group were worth $718,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. UMB Bank n.a. purchased a new stake in Arch Capital Group during the 2nd quarter worth approximately $30,000. Baldwin Brothers LLC MA increased its stake in shares of Arch Capital Group by 50.7% in the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider's stock worth $31,000 after buying an additional 104 shares during the last quarter. Richardson Financial Services Inc. acquired a new stake in Arch Capital Group in the fourth quarter valued at $33,000. Rothschild Investment LLC bought a new position in Arch Capital Group during the 2nd quarter valued at $35,000. Finally, LRI Investments LLC acquired a new position in Arch Capital Group during the 1st quarter worth $38,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Francois Morin sold 11,460 shares of the stock in a transaction that occurred 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 directly owns 221,779 shares in the company, valued at $22,723,476.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ACGL shares. Wells Fargo & Company reduced 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 report on Monday, August 12th. Deutsche Bank Aktiengesellschaft lifted their target price on Arch Capital Group from $110.00 to $120.00 and gave the stock a "buy" rating in a research report on Monday, July 1st. JMP Securities upped their price target on Arch Capital Group from $110.00 to $115.00 and gave the company a "market outperform" rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price objective on shares of Arch Capital Group from $106.00 to $108.00 and gave the stock a "neutral" rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada increased their target price on shares of Arch Capital Group from $108.00 to $112.00 and gave the stock an "outperform" rating in a report on Thursday, August 1st. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $110.93.

Arch Capital Group Stock Performance

Shares of NASDAQ ACGL traded down $0.92 during midday trading on Wednesday, hitting $113.04. 891,310 shares of the company's stock were exchanged, compared to its average volume of 1,607,752. Arch Capital Group Ltd. has a twelve month low of $72.85 and a twelve month high of $114.69. 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 firm has a market cap of $42.51 billion, a P/E ratio of 8.94, a PEG ratio of 2.00 and a beta of 0.60. The stock's 50 day moving average price is $103.22 and its 200-day moving average price is $98.52.

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