Harbor Capital Advisors Inc. Sells 221 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Harbor Capital Advisors Inc. cut its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,762 shares of the insurance provider’s stock after selling 221 shares during the period. Harbor Capital Advisors Inc.’s holdings in Arch Capital Group were worth $884,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Arch Capital Group by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 40,858,890 shares of the insurance provider’s stock worth $3,776,996,000 after acquiring an additional 104,008 shares in the last quarter. Capital World Investors raised its holdings in Arch Capital Group by 0.6% in the 4th quarter. Capital World Investors now owns 10,611,092 shares of the insurance provider’s stock valued at $788,086,000 after acquiring an additional 58,862 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Arch Capital Group by 11.4% in the 1st quarter. Principal Financial Group Inc. now owns 6,800,236 shares of the insurance provider’s stock valued at $628,614,000 after acquiring an additional 693,608 shares during the last quarter. Davis Asset Management L.P. raised its holdings in Arch Capital Group by 441.7% in the 4th quarter. Davis Asset Management L.P. now owns 6,500,000 shares of the insurance provider’s stock valued at $482,755,000 after acquiring an additional 5,300,000 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Arch Capital Group by 1.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,907,122 shares of the insurance provider’s stock valued at $546,054,000 after buying an additional 99,329 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Stock Up 0.4 %

Shares of ACGL traded up $0.43 during midday trading on Wednesday, reaching $97.07. The stock had a trading volume of 681,088 shares, compared to its average volume of 1,680,821. Arch Capital Group Ltd. has a 1-year low of $72.85 and a 1-year high of $103.79. The company’s fifty day simple moving average is $98.87 and its two-hundred day simple moving average is $93.56. The company has a market cap of $36.45 billion, a price-to-earnings ratio of 7.68, a PEG ratio of 1.84 and a beta of 0.58. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.59.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The company had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the previous year, the business posted $1.92 earnings per share. Arch Capital Group’s quarterly revenue was up 10.3% on a year-over-year basis. Equities research analysts expect that Arch Capital Group Ltd. will post 8.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. StockNews.com cut shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Morgan Stanley increased their price target on shares of Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Bank of America dropped their price target on shares of Arch Capital Group from $119.00 to $118.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. JMP Securities increased their price target on shares of Arch Capital Group from $110.00 to $115.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Arch Capital Group from $106.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Five investment 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.56.

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.