Arch Capital Group Ltd. (NASDAQ:ACGL) Position Raised by Everhart Financial Group Inc.

Everhart Financial Group Inc. increased its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 36.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,492 shares of the insurance provider’s stock after purchasing an additional 1,475 shares during the period. Everhart Financial Group Inc.’s holdings in Arch Capital Group were worth $554,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACGL. Larson Financial Group LLC acquired a new position in Arch Capital Group in the fourth quarter worth approximately $30,000. Baldwin Brothers LLC MA grew its position in 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 position in Arch Capital Group in the fourth quarter worth approximately $33,000. LRI Investments LLC acquired a new position in Arch Capital Group in the first quarter worth approximately $38,000. Finally, Versant Capital Management Inc grew its position in Arch Capital Group by 40.3% in the second quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider’s stock worth $46,000 after buying an additional 131 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Roth Mkm lifted their price target 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. Keefe, Bruyette & Woods lifted their price objective on shares of Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. JMP Securities lifted their price objective on shares of Arch Capital Group from $110.00 to $115.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 31st. Bank of America lowered their price objective on shares of Arch Capital Group from $119.00 to $118.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Finally, Wells Fargo & Company lowered their price objective 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. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Arch Capital Group currently has a consensus rating of “Moderate Buy” and an average price target of $106.50.

Arch Capital Group Stock Up 2.4 %

Shares of ACGL stock traded up $2.51 on Friday, hitting $109.02. The company’s stock had a trading volume of 1,514,536 shares, compared to its average volume of 1,634,753. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.60. Arch Capital Group Ltd. has a fifty-two week low of $72.85 and a fifty-two week high of $109.14. The firm’s fifty day moving average price is $99.20 and its 200-day moving average price is $95.23. The stock has a market capitalization of $40.94 billion, a price-to-earnings ratio of 8.60, a P/E/G ratio of 1.86 and a beta of 0.58.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the previous year, the business earned $1.92 EPS. Arch Capital Group’s quarterly revenue was up 10.3% compared to the same quarter last year. Research analysts anticipate that Arch Capital Group Ltd. will post 9 EPS for the current year.

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 transaction of $1,174,191.60. Following the completion of the transaction, the chief financial officer now owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.20% of the company’s stock.

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.