Millington Financial Advisors LLC Acquires 267 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Millington Financial Advisors LLC raised its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,464 shares of the insurance provider’s stock after buying an additional 267 shares during the period. Millington Financial Advisors LLC’s holdings in Arch Capital Group were worth $1,459,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Davis Asset Management L.P. increased its stake in shares of Arch Capital Group by 441.7% during the fourth quarter. Davis Asset Management L.P. now owns 6,500,000 shares of the insurance provider’s stock worth $482,755,000 after purchasing an additional 5,300,000 shares during the period. Norges Bank bought a new position in shares of Arch Capital Group during the fourth quarter worth approximately $309,496,000. Capital International Investors increased its stake in shares of Arch Capital Group by 61.1% during the first quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock worth $380,167,000 after purchasing an additional 1,560,173 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Arch Capital Group by 61.6% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,191,282 shares of the insurance provider’s stock worth $237,017,000 after purchasing an additional 1,216,080 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Arch Capital Group by 11.4% during the first quarter. Principal Financial Group Inc. now owns 6,800,236 shares of the insurance provider’s stock worth $628,614,000 after purchasing an additional 693,608 shares during the period. Institutional investors own 89.07% of the company’s stock.

Insider Transactions at Arch Capital Group

In other news, CFO Francois Morin sold 11,460 shares of Arch Capital Group 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 transaction, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ACGL shares. Bank of America lowered their price objective on Arch Capital Group from $119.00 to $118.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. JMP Securities raised their price objective on Arch Capital Group from $110.00 to $115.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 31st. Royal Bank of Canada raised their price objective on Arch Capital Group from $108.00 to $112.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Keefe, Bruyette & Woods raised their price objective 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, StockNews.com lowered Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Arch Capital Group has a consensus rating of “Moderate Buy” and an average target price of $106.50.

Arch Capital Group Trading Up 0.2 %

NASDAQ:ACGL traded up $0.28 during trading hours on Friday, hitting $113.09. 2,739,205 shares of the company were exchanged, compared to its average volume of 1,632,213. The stock has a market capitalization of $42.46 billion, a price-to-earnings ratio of 8.93, a price-to-earnings-growth ratio of 1.86 and a beta of 0.58. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.16. Arch Capital Group Ltd. has a one year low of $72.85 and a one year high of $113.66. The company has a fifty day simple moving average of $100.24 and a 200 day simple moving average of $96.21.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (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 business had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the company earned $1.92 EPS. Arch Capital Group’s revenue for the quarter was up 10.3% compared to the same quarter last year. Sell-side analysts expect that Arch Capital Group Ltd. will post 9 EPS 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.