Arch Capital Group Ltd. (NASDAQ:ACGL) Shares Sold by Smith Group Asset Management LLC

Smith Group Asset Management LLC cut its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 10.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 315,709 shares of the insurance provider's stock after selling 37,921 shares during the quarter. Arch Capital Group accounts for 2.9% of Smith Group Asset Management LLC's portfolio, making the stock its 8th largest position. Smith Group Asset Management LLC owned about 0.08% of Arch Capital Group worth $35,322,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of Arch Capital Group by 32.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,982 shares of the insurance provider's stock valued at $2,402,000 after acquiring an additional 6,306 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Arch Capital Group by 0.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,015,428 shares of the insurance provider's stock valued at $93,866,000 after purchasing an additional 4,446 shares during the period. Denali Advisors LLC purchased a new position in Arch Capital Group in the 1st quarter worth about $214,000. Trust Co. of Oklahoma acquired a new stake in Arch Capital Group during the 1st quarter worth about $318,000. Finally, Norden Group LLC acquired a new stake in Arch Capital Group during the 1st quarter worth about $431,000. Institutional investors own 89.07% of the company's stock.

Wall Street Analyst Weigh In

ACGL has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Arch Capital Group from $108.00 to $110.00 and gave the stock a "neutral" rating in a research note on Thursday, October 10th. TD Cowen lifted their price target on Arch Capital Group from $116.00 to $138.00 and gave the company a "buy" rating in a report on Friday, September 20th. Roth Mkm upped their price target on Arch Capital Group from $110.00 to $125.00 and gave the company a "buy" rating in a research report on Friday, August 23rd. Bank of America raised their price objective on Arch Capital Group from $119.00 to $135.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Finally, Jefferies Financial Group upped their target price on Arch Capital Group from $114.00 to $134.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $119.53.

Arch Capital Group Stock Performance

ACGL traded down $0.86 during midday trading on Tuesday, reaching $104.80. The company's stock had a trading volume of 1,316,797 shares, compared to its average volume of 1,629,256. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $110.84 and a 200 day simple moving average of $102.67. The stock has a market cap of $39.41 billion, a P/E ratio of 7.37, a PEG ratio of 1.95 and a beta of 0.59. Arch Capital Group Ltd. has a twelve month low of $72.85 and a twelve month high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.21 by $0.36. The business had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. Arch Capital Group's revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.92 earnings per share. Research analysts expect that Arch Capital Group Ltd. will post 9.06 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Francois Morin sold 11,460 shares of the firm's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the completion of the transaction, the chief financial officer now directly owns 221,779 shares of the company's stock, valued at approximately $22,723,476.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.00% of the stock is owned by company insiders.

Arch Capital Group Company Profile

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.