Sanctuary Advisors LLC Purchases New Shares in Arch Capital Group Ltd. (NASDAQ:ACGL)

Sanctuary Advisors LLC bought a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 53,647 shares of the insurance provider’s stock, valued at approximately $5,412,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cetera Investment Advisers boosted its stake in shares of Arch Capital Group by 18.4% in the second quarter. Cetera Investment Advisers now owns 49,193 shares of the insurance provider’s stock valued at $4,963,000 after buying an additional 7,652 shares in the last quarter. Truist Financial Corp raised its position in Arch Capital Group by 4.9% in the second quarter. Truist Financial Corp now owns 786,818 shares of the insurance provider’s stock worth $79,382,000 after acquiring an additional 36,566 shares in the last quarter. Brandes Investment Partners LP acquired a new stake in Arch Capital Group in the second quarter valued at $48,119,000. NewEdge Advisors LLC boosted its position in shares of Arch Capital Group by 18.8% during the 2nd quarter. NewEdge Advisors LLC now owns 14,914 shares of the insurance provider’s stock worth $1,505,000 after purchasing an additional 2,361 shares in the last quarter. Finally, Creative Planning boosted its position in shares of Arch Capital Group by 14.4% during the 2nd quarter. Creative Planning now owns 36,230 shares of the insurance provider’s stock worth $3,655,000 after purchasing an additional 4,571 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Arch Capital Group Stock Performance

Shares of ACGL opened at $114.86 on Friday. The firm has a market cap of $43.13 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 2.05 and a beta of 0.59. 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’s 50 day moving average is $107.11 and its two-hundred day moving average is $100.36. Arch Capital Group Ltd. has a 52-week low of $72.85 and a 52-week high of $115.03.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results 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. The firm had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.92 earnings per share. Analysts forecast that Arch Capital Group Ltd. will post 9.01 EPS for the current fiscal year.

Analysts Set New Price Targets

ACGL has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Arch Capital Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Arch Capital Group from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Roth Mkm raised their target price on shares of Arch Capital Group from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Barclays started coverage on shares of Arch Capital Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 price target on the stock. Finally, Evercore ISI upped their target price on shares of Arch Capital Group from $100.00 to $104.00 and gave the company an “in-line” rating in a report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $113.73.

Insider Transactions at Arch Capital Group

In related news, CFO Francois Morin sold 11,460 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate 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.