Arch Capital Group Ltd. (NASDAQ:ACGL) Stock Position Lowered by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC lowered its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 2.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,815 shares of the insurance provider’s stock after selling 972 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Arch Capital Group were worth $3,834,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. bought a new position in shares of Arch Capital Group during the 2nd quarter valued at about $30,000. Baldwin Brothers LLC MA boosted its holdings in Arch Capital Group by 50.7% during 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 in the last quarter. Rothschild Investment LLC acquired a new position in Arch Capital Group in the second quarter worth approximately $35,000. LRI Investments LLC bought a new position in shares of Arch Capital Group in the first quarter valued at $38,000. Finally, Versant Capital Management Inc lifted its position in shares of Arch Capital Group by 40.3% during the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider’s stock valued at $46,000 after acquiring an additional 131 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. StockNews.com cut Arch Capital Group from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods lifted their price target on Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Barclays began coverage on shares of Arch Capital Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 price objective for the company. Royal Bank of Canada lifted their target price on shares of Arch Capital Group from $108.00 to $112.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, Roth Mkm upped 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. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $119.53.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the business’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 completion of the sale, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at $22,723,476.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.00% of the company’s stock.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL opened at $105.66 on Tuesday. The firm has a market cap of $39.73 billion, a price-to-earnings ratio of 7.43, a P/E/G ratio of 1.95 and a beta of 0.59. Arch Capital Group Ltd. has a 1 year low of $72.85 and a 1 year high of $116.47. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $110.80 and a 200 day simple moving average of $102.57.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.36. The company had revenue of $3.78 billion during 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 business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the business earned $1.92 EPS. As a group, sell-side analysts predict that Arch Capital Group Ltd. will post 9.06 earnings per share for the current fiscal year.

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.