Wealth Enhancement Advisory Services LLC Trims Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Wealth Enhancement Advisory Services LLC cut its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 71.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,375 shares of the insurance provider's stock after selling 18,607 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Arch Capital Group were worth $744,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ACGL. Larson Financial Group LLC purchased a new position in shares of Arch Capital Group in the fourth quarter valued at $30,000. Baldwin Brothers LLC MA grew its holdings in Arch Capital Group by 50.7% during the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider's stock valued at $31,000 after buying an additional 104 shares in the last quarter. Richardson Financial Services Inc. bought a new stake in shares of Arch Capital Group during the fourth quarter valued at about $33,000. LRI Investments LLC purchased a new stake in shares of Arch Capital Group in the first quarter worth about $38,000. Finally, Versant Capital Management Inc boosted its position in shares of Arch Capital Group by 40.3% in the second quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider's stock valued at $46,000 after acquiring an additional 131 shares during the period. Institutional investors own 89.07% of the company's stock.

Insider Activity

In other news, CFO Francois Morin sold 11,460 shares of the business's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the sale, the chief financial officer now owns 221,779 shares of the company's stock, valued at approximately $22,723,476.34. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 4.20% of the stock is currently owned by corporate insiders.

Arch Capital Group Price Performance

ACGL stock traded up $1.91 during mid-day trading on Thursday, hitting $106.51. 1,144,900 shares of the stock were exchanged, compared to its average volume of 1,635,505. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.60. The business has a fifty day moving average price of $98.82 and a 200 day moving average price of $94.98. Arch Capital Group Ltd. has a 12 month low of $72.85 and a 12 month high of $106.54. The stock has a market capitalization of $39.99 billion, a price-to-earnings ratio of 8.41, a PEG ratio of 1.86 and a beta of 0.58.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, beating analysts' consensus estimates of $2.21 by $0.36. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The company had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the previous year, the company posted $1.92 EPS. Arch Capital Group's revenue for the quarter was up 10.3% on a year-over-year basis. On average, sell-side analysts anticipate that Arch Capital Group Ltd. will post 9 EPS for the current year.

Wall Street Analyst Weigh In

ACGL has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on shares of Arch Capital Group from $106.00 to $108.00 and gave the stock a "neutral" rating in a report on Wednesday, July 31st. Evercore ISI increased their price objective on Arch Capital Group from $100.00 to $104.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 31st. Roth Mkm restated a "buy" rating and set a $110.00 target price on shares of Arch Capital Group in a research report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft boosted their target price on Arch Capital Group from $110.00 to $120.00 and gave the stock a "buy" rating in a research report on Monday, July 1st. Finally, Keefe, Bruyette & Woods boosted their target price on Arch Capital Group from $120.00 to $121.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.