Envestnet Portfolio Solutions Inc. cut its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 43.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,904 shares of the insurance provider's stock after selling 13,860 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Arch Capital Group were worth $1,653,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Quantbot Technologies LP bought a new position in Arch Capital Group in the 3rd quarter valued at about $25,000. Cullen Frost Bankers Inc. acquired a new position in shares of Arch Capital Group in the fourth quarter valued at approximately $37,000. Golden State Wealth Management LLC bought a new position in shares of Arch Capital Group during the fourth quarter worth approximately $42,000. Y.D. More Investments Ltd lifted its holdings in Arch Capital Group by 125.6% during the 4th quarter. Y.D. More Investments Ltd now owns 467 shares of the insurance provider's stock worth $43,000 after purchasing an additional 260 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in Arch Capital Group by 97.0% in the 4th quarter. UMB Bank n.a. now owns 841 shares of the insurance provider's stock valued at $78,000 after buying an additional 414 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.
Arch Capital Group Trading Up 1.4 %
Arch Capital Group stock traded up $1.35 during trading hours on Wednesday, hitting $95.93. The stock had a trading volume of 1,321,663 shares, compared to its average volume of 1,651,740. The stock has a market cap of $36.01 billion, a price-to-earnings ratio of 8.57, a P/E/G ratio of 2.31 and a beta of 0.62. The company has a quick ratio of 0.58, a current ratio of 0.54 and a debt-to-equity ratio of 0.15. The business's 50 day simple moving average is $92.10 and its 200-day simple moving average is $98.41. Arch Capital Group Ltd. has a one year low of $87.42 and a one year high of $116.47.
Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its earnings results on Monday, February 10th. The insurance provider reported $2.26 EPS for the quarter, topping the consensus estimate of $1.90 by $0.36. Arch Capital Group had a net margin of 24.73% and a return on equity of 17.96%. During the same quarter in the prior year, the firm posted $2.45 EPS. On average, equities analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on ACGL. Barclays reduced their target price on shares of Arch Capital Group from $120.00 to $100.00 and set an "equal weight" rating for the company in a research report on Monday, January 6th. Wells Fargo & Company decreased their target price on shares of Arch Capital Group from $107.00 to $106.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 12th. Royal Bank of Canada reduced their price target on Arch Capital Group from $125.00 to $110.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 12th. JMP Securities reaffirmed a "market outperform" rating and issued a $125.00 price objective on shares of Arch Capital Group in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. dropped their price target on Arch Capital Group from $110.00 to $106.00 and set a "neutral" rating for the company in a research note on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Arch Capital Group has a consensus rating of "Moderate Buy" and a consensus target price of $117.19.
Check Out Our Latest Analysis on Arch Capital Group
Insider Activity at Arch Capital Group
In other Arch Capital Group news, insider Louis T. Petrillo sold 11,600 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $91.00, for a total value of $1,055,600.00. Following the sale, the insider now owns 140,023 shares in the company, valued at approximately $12,742,093. The trade was a 7.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 4.20% of the stock is currently owned by company insiders.
About Arch Capital Group
(
Free Report)
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.
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