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

Synergy Asset Management LLC trimmed its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 18.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,601 shares of the insurance provider’s stock after selling 27,390 shares during the quarter. Arch Capital Group accounts for approximately 1.9% of Synergy Asset Management LLC’s portfolio, making the stock its 13th largest 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 institutional investors and hedge funds also recently made changes to their positions in ACGL. UMB Bank n.a. purchased a new stake in shares of Arch Capital Group during the second quarter valued at approximately $30,000. Baldwin Brothers LLC MA increased its position in shares of 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 during the last quarter. Richardson Financial Services Inc. bought a new stake in shares of Arch Capital Group during the 4th quarter worth $33,000. Rothschild Investment LLC bought a new stake in shares of Arch Capital Group during the 2nd quarter worth $35,000. Finally, LRI Investments LLC purchased a new position in shares of Arch Capital Group in the 1st quarter worth about $38,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity at Arch Capital Group

In related news, CFO Francois Morin sold 11,460 shares of the firm’s 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.20% of the stock is currently owned by insiders.

Arch Capital Group Price Performance

ACGL traded down $0.09 on Friday, reaching $112.10. The company had a trading volume of 36,055 shares, compared to its average volume of 1,620,763. The business has a 50 day simple moving average of $101.17 and a 200 day simple moving average of $96.97. The company has a market cap of $42.09 billion, a price-to-earnings ratio of 8.85, a P/E/G ratio of 2.05 and a beta of 0.60. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.60 and a current ratio of 0.60. Arch Capital Group Ltd. has a 52-week low of $72.85 and a 52-week high of $114.65.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. The business had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. Arch Capital Group’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm posted $1.92 earnings per share. As a group, sell-side analysts anticipate that Arch Capital Group Ltd. will post 9.01 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on ACGL. Roth Mkm increased their price target on shares of Arch Capital Group from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Keefe, Bruyette & Woods upped their price objective on shares of Arch Capital Group from $120.00 to $121.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. JMP Securities upped their price objective on shares of Arch Capital Group from $110.00 to $115.00 and gave the company a “market outperform” rating in a report on Wednesday, July 31st. StockNews.com downgraded shares of Arch Capital Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada upped their price objective on shares of Arch Capital Group from $108.00 to $112.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Arch Capital Group has a consensus rating of “Moderate Buy” and an average target price of $107.44.

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.