Exchange Traded Concepts LLC Buys Shares of 8,150 Arch Capital Group Ltd. (NASDAQ:ACGL)

Exchange Traded Concepts LLC purchased a new position in Arch Capital Group Ltd. (NASDAQ:ACGL) during the third quarter, Holdings Channel reports. The institutional investor purchased 8,150 shares of the insurance provider’s stock, valued at approximately $912,000.

A number of other institutional investors also recently modified their holdings of the company. UMB Bank n.a. bought a new stake in Arch Capital Group during the second quarter valued at $30,000. Baldwin Brothers LLC MA boosted 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 in the last quarter. Rothschild Investment LLC acquired a new stake in Arch Capital Group during the second quarter worth approximately $35,000. LRI Investments LLC bought a new stake in Arch Capital Group in the first quarter worth approximately $38,000. Finally, Versant Capital Management Inc lifted its stake 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 valued at $46,000 after buying an additional 131 shares during the period. 89.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ACGL. Deutsche Bank Aktiengesellschaft lifted 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. Bank of America upped their price objective on shares of Arch Capital Group from $119.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Jefferies Financial Group raised their target price on Arch Capital Group from $114.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods upped 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. Finally, Barclays began coverage on Arch Capital Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 price objective for the company. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Arch Capital Group currently has a consensus rating of “Moderate Buy” and an average price target of $119.53.

Insider Buying and Selling

In other 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 completion of the transaction, the chief financial officer now directly owns 221,779 shares in the company, valued at approximately $22,723,476.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.20% of the stock is currently owned by corporate insiders.

Arch Capital Group Stock Up 0.7 %

ACGL opened at $108.25 on Friday. Arch Capital Group Ltd. has a fifty-two week low of $72.85 and a fifty-two week high of $116.47. The firm has a market capitalization of $40.65 billion, a P/E ratio of 8.54, a PEG ratio of 2.03 and a beta of 0.59. The company’s 50-day moving average is $109.85 and its 200 day moving average is $101.71. 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 (NASDAQ:ACGL) last posted 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. 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 company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.92 EPS. Research analysts expect that Arch Capital Group Ltd. will post 9.11 earnings per share for the current fiscal year.

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.