SkyView Investment Advisors LLC Sells 22,028 Shares of Arch Capital Group Ltd. $ACGL

SkyView Investment Advisors LLC lowered its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 91.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,000 shares of the insurance provider’s stock after selling 22,028 shares during the quarter. SkyView Investment Advisors LLC’s holdings in Arch Capital Group were worth $194,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its position in shares of Arch Capital Group by 29.7% during the second quarter. Sequoia Financial Advisors LLC now owns 46,100 shares of the insurance provider’s stock worth $4,474,000 after purchasing an additional 10,562 shares during the last quarter. National Pension Service grew its holdings in shares of Arch Capital Group by 3.5% in the second quarter. National Pension Service now owns 719,128 shares of the insurance provider’s stock worth $69,799,000 after purchasing an additional 24,546 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of Arch Capital Group in the second quarter worth about $4,625,000. Triad Investment Management purchased a new position in Arch Capital Group in the 2nd quarter worth about $2,030,000. Finally, Cidel Asset Management Inc. purchased a new position in Arch Capital Group in the 2nd quarter worth about $207,000. Institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

ACGL has been the subject of several research reports. Cantor Fitzgerald boosted their price objective on shares of Arch Capital Group from $102.00 to $110.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. raised their target price on shares of Arch Capital Group from $116.00 to $118.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Morgan Stanley lifted their price target on shares of Arch Capital Group from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $120.00 price target (up from $115.00) on shares of Arch Capital Group in a report on Thursday, July 30th. Finally, Mizuho increased their price objective on Arch Capital Group from $101.00 to $104.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Arch Capital Group presently has a consensus rating of “Hold” and an average price target of $111.11.

Arch Capital Group Stock Up 1.9%

Shares of Arch Capital Group stock opened at $97.95 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a market cap of $33.42 billion, a price-to-earnings ratio of 7.66, a PEG ratio of 4.73 and a beta of 0.30. The firm’s 50-day moving average is $99.76 and its two-hundred day moving average is $96.69. Arch Capital Group Ltd. has a 1 year low of $82.44 and a 1 year high of $107.08.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.09. Arch Capital Group had a net margin of 24.40% and a return on equity of 17.06%. The firm had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter in the prior year, the company earned $2.58 EPS. As a group, research analysts expect that Arch Capital Group Ltd. will post 9.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arch Capital Group news, CFO Francois Morin sold 11,010 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $99.32, for a total transaction of $1,093,513.20. Following the completion of the sale, the chief financial officer owned 184,826 shares in the company, valued at $18,356,918.32. This represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.30% of the stock is owned by company insiders.

Arch Capital Group Profile

Arch Capital Group Ltd. is a Bermuda-based insurance and financial services company that operates through a global network of subsidiaries. Listed on the Nasdaq under the symbol ACGL, the company provides specialty insurance, reinsurance and mortgage insurance products to businesses, institutions and individuals.

Arch’s insurance operations offer coverage across property, casualty and specialty lines, including professional liability, marine, aviation, energy, construction, accident and health, and other complex or customized risks.