Raymond James Financial Services Advisors Inc. Boosts Holdings in Arch Capital Group Ltd. (ACGL)

Raymond James Financial Services Advisors Inc. boosted its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 56.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,006 shares of the insurance provider’s stock after buying an additional 11,502 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Arch Capital Group were worth $2,986,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Arch Capital Group by 7.7% during the 2nd quarter. Vanguard Group Inc. now owns 10,331,707 shares of the insurance provider’s stock worth $963,845,000 after buying an additional 742,855 shares in the last quarter. State Street Corp increased its stake in Arch Capital Group by 1.4% during the 1st quarter. State Street Corp now owns 2,915,052 shares of the insurance provider’s stock worth $276,253,000 after buying an additional 40,737 shares in the last quarter. FMR LLC increased its stake in Arch Capital Group by 21.0% during the 2nd quarter. FMR LLC now owns 2,294,852 shares of the insurance provider’s stock worth $214,087,000 after buying an additional 398,988 shares in the last quarter. Wells Fargo & Company MN increased its stake in Arch Capital Group by 13.3% during the 2nd quarter. Wells Fargo & Company MN now owns 2,237,908 shares of the insurance provider’s stock worth $208,774,000 after buying an additional 262,893 shares in the last quarter. Finally, Citadel Advisors LLC increased its stake in Arch Capital Group by 1,388.0% during the 2nd quarter. Citadel Advisors LLC now owns 2,088,015 shares of the insurance provider’s stock worth $194,792,000 after buying an additional 1,947,691 shares in the last quarter. Institutional investors own 76.89% of the company’s stock.

In other news, CEO Constantine Iordanou sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $97.88, for a total transaction of $4,894,000.00. Following the completion of the transaction, the chief executive officer now directly owns 171,901 shares of the company’s stock, valued at approximately $16,825,669.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Nicolas Papadopoulo sold 80,694 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $93.80, for a total transaction of $7,569,097.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 195,579 shares of company stock valued at $18,756,983. Corporate insiders own 6.60% of the company’s stock.

Arch Capital Group Ltd. (NASDAQ:ACGL) opened at 98.92 on Tuesday. Arch Capital Group Ltd. has a one year low of $76.47 and a one year high of $100.91. The stock’s 50 day moving average price is $97.59 and its 200 day moving average price is $96.21. The firm has a market capitalization of $13.30 billion, a PE ratio of 17.99 and a beta of 0.66.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Wednesday, July 26th. The insurance provider reported $1.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.01. Arch Capital Group had a net margin of 15.65% and a return on equity of 8.76%. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the company posted $1.13 earnings per share. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. Analysts expect that Arch Capital Group Ltd. will post $4.26 EPS for the current year.

ACGL has been the subject of several research reports. UBS AG cut their price objective on Arch Capital Group from $114.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, September 19th. Zacks Investment Research lowered Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Keefe, Bruyette & Woods set a $100.00 price objective on Arch Capital Group and gave the stock a “hold” rating in a research note on Friday, August 11th. Buckingham Research initiated coverage on Arch Capital Group in a research note on Monday, September 11th. They set a “buy” rating and a $106.00 price objective for the company. Finally, Wells Fargo & Company reiterated a “hold” rating on shares of Arch Capital Group in a research note on Wednesday, July 26th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $99.25.

TRADEMARK VIOLATION WARNING: “Raymond James Financial Services Advisors Inc. Boosts Holdings in Arch Capital Group Ltd. (ACGL)” was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece of content on another publication, it was stolen and republished in violation of United States & international trademark & copyright legislation. The legal version of this piece of content can be read at https://ledgergazette.com/2017/10

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Arch Capital Group by 7.7% during the 2nd quarter. Vanguard Group Inc. now owns 10,331,707 shares of the insurance provider’s stock worth $963,845,000 after buying an additional 742,855 shares in the last quarter. State Street Corp increased its stake in Arch Capital Group by 1.4% during the 1st quarter. State Street Corp now owns 2,915,052 shares of the insurance provider’s stock worth $276,253,000 after buying an additional 40,737 shares in the last quarter. FMR LLC increased its stake in Arch Capital Group by 21.0% during the 2nd quarter. FMR LLC now owns 2,294,852 shares of the insurance provider’s stock worth $214,087,000 after buying an additional 398,988 shares in the last quarter. Wells Fargo & Company MN increased its stake in Arch Capital Group by 13.3% during the 2nd quarter. Wells Fargo & Company MN now owns 2,237,908 shares of the insurance provider’s stock worth $208,774,000 after buying an additional 262,893 shares in the last quarter. Finally, Citadel Advisors LLC increased its stake in Arch Capital Group by 1,388.0% during the 2nd quarter. Citadel Advisors LLC now owns 2,088,015 shares of the insurance provider’s stock worth $194,792,000 after buying an additional 1,947,691 shares in the last quarter. Institutional investors own 76.89% of the company’s stock.

In other news, CEO Constantine Iordanou sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $97.88, for a total transaction of $4,894,000.00. Following the completion of the transaction, the chief executive officer now directly owns 171,901 shares of the company’s stock, valued at approximately $16,825,669.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Nicolas Papadopoulo sold 80,694 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $93.80, for a total transaction of $7,569,097.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 195,579 shares of company stock valued at $18,756,983. Corporate insiders own 6.60% of the company’s stock.

Arch Capital Group Ltd. (NASDAQ:ACGL) opened at 98.92 on Tuesday. Arch Capital Group Ltd. has a one year low of $76.47 and a one year high of $100.91. The stock’s 50 day moving average price is $97.59 and its 200 day moving average price is $96.21. The firm has a market capitalization of $13.30 billion, a PE ratio of 17.99 and a beta of 0.66.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Wednesday, July 26th. The insurance provider reported $1.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.01. Arch Capital Group had a net margin of 15.65% and a return on equity of 8.76%. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the company posted $1.13 earnings per share. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. Analysts expect that Arch Capital Group Ltd. will post $4.26 EPS for the current year.

ACGL has been the subject of several research reports. UBS AG cut their price objective on Arch Capital Group from $114.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, September 19th. Zacks Investment Research lowered Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Keefe, Bruyette & Woods set a $100.00 price objective on Arch Capital Group and gave the stock a “hold” rating in a research note on Friday, August 11th. Buckingham Research initiated coverage on Arch Capital Group in a research note on Monday, September 11th. They set a “buy” rating and a $106.00 price objective for the company. Finally, Wells Fargo & Company reiterated a “hold” rating on shares of Arch Capital Group in a research note on Wednesday, July 26th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $99.25.

TRADEMARK VIOLATION WARNING: “Raymond James Financial Services Advisors Inc. Boosts Holdings in Arch Capital Group Ltd. (ACGL)” was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece of content on another publication, it was stolen and republished in violation of United States & international trademark & copyright legislation. The legal version of this piece of content can be read at https://ledgergazette.com/2017/10/17/raymond-james-financial-services-advisors-inc-boosts-holdings-in-arch-capital-group-ltd-acgl.html.

About Arch Capital Group

Arch Capital Group Ltd. provides insurance, reinsurance and mortgage insurance. The Company provides a range of property, casualty and mortgage insurance and reinsurance lines. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The insurance segment’s product lines include construction and national accounts; excess and surplus casualty; lenders products; professional lines; programs; property, energy, marine and aviation; travel, accident and health, and other.

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Institutional Ownership by Quarter for Arch Capital Group (NASDAQ:ACGL)

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