Scientech Research LLC Has $579,000 Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Scientech Research LLC lowered its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 31.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,735 shares of the insurance provider’s stock after selling 2,614 shares during the quarter. Scientech Research LLC’s holdings in Arch Capital Group were worth $579,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ACGL. UMB Bank n.a. acquired a new stake in shares of Arch Capital Group during the second quarter worth about $30,000. Baldwin Brothers LLC MA raised its position in shares of 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 purchasing an additional 104 shares during the period. Richardson Financial Services Inc. acquired a new stake in shares of Arch Capital Group during the fourth quarter worth about $33,000. Rothschild Investment LLC acquired a new stake in shares of Arch Capital Group during the second quarter worth about $35,000. Finally, LRI Investments LLC acquired a new stake in shares of Arch Capital Group during the first quarter worth about $38,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ACGL. Roth Mkm lifted their target price on 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 lifted their target price on Arch Capital Group from $120.00 to $121.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Royal Bank of Canada lifted their target price on Arch Capital Group from $108.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lifted their target price on Arch Capital Group from $106.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Bank of America dropped their target price on 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. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $113.73.

Insider Transactions at Arch Capital Group

In other news, CFO Francois Morin sold 11,460 shares of Arch Capital Group stock in a transaction that occurred on Friday, August 16th. The stock was 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 directly owns 221,779 shares in the company, valued at approximately $22,723,476.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.20% of the stock is currently owned by corporate insiders.

Arch Capital Group Stock Up 0.7 %

ACGL stock opened at $113.41 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average price of $105.74 and a two-hundred day moving average price of $99.82. The company has a market cap of $42.58 billion, a price-to-earnings ratio of 8.95, a P/E/G ratio of 2.05 and a beta of 0.60. Arch Capital Group Ltd. has a twelve month low of $72.85 and a twelve month high of $114.69.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.21 by $0.36. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The company had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the previous year, the company posted $1.92 EPS. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. Analysts anticipate that Arch Capital Group Ltd. will post 9.01 EPS for the current fiscal 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.