Contravisory Investment Management Inc. Boosts Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Contravisory Investment Management Inc. grew its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,504 shares of the insurance provider’s stock after purchasing an additional 204 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Arch Capital Group were worth $728,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. UMB Bank n.a. boosted its stake in shares of Arch Capital Group by 41.9% in the third quarter. UMB Bank n.a. now owns 427 shares of the insurance provider’s stock valued at $48,000 after purchasing an additional 126 shares during the period. Northstar Group Inc. boosted its stake in shares of Arch Capital Group by 0.7% in the third quarter. Northstar Group Inc. now owns 116,250 shares of the insurance provider’s stock valued at $13,006,000 after purchasing an additional 835 shares during the period. Wedmont Private Capital lifted its stake in Arch Capital Group by 9.7% in the third quarter. Wedmont Private Capital now owns 5,436 shares of the insurance provider’s stock worth $586,000 after acquiring an additional 479 shares during the last quarter. Insight Wealth Strategies LLC lifted its stake in Arch Capital Group by 1.7% in the third quarter. Insight Wealth Strategies LLC now owns 25,538 shares of the insurance provider’s stock worth $2,857,000 after acquiring an additional 430 shares during the last quarter. Finally, Fulton Bank N.A. purchased a new position in Arch Capital Group in the third quarter worth approximately $207,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

ACGL has been the subject of a number of recent research reports. Bank of America lifted their price target on shares of Arch Capital Group from $119.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday. 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 note on Friday, August 23rd. Citigroup lifted their price target on shares of Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Wells Fargo & Company lifted their price target on shares of Arch Capital Group from $110.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Royal Bank of Canada lifted their price target on shares of Arch Capital Group from $108.00 to $112.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $118.87.

Arch Capital Group Stock Performance

Shares of Arch Capital Group stock opened at $113.90 on Friday. The firm’s fifty day simple moving average is $108.60 and its 200-day simple moving average is $101.07. The stock has a market capitalization of $42.83 billion, a price-to-earnings ratio of 8.01, a PEG ratio of 2.03 and a beta of 0.59. Arch Capital Group Ltd. has a 12 month low of $72.85 and a 12 month high of $116.47. 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 announced 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. The company 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%. Arch Capital Group’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.92 EPS. As a group, equities analysts forecast that Arch Capital Group Ltd. will post 9.11 earnings per share for the current year.

Insider Transactions at Arch Capital Group

In other news, CFO Francois Morin sold 11,460 shares of the company’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 transaction, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at $22,723,476.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.20% of the company’s stock.

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.