Envestnet Asset Management Inc. Cuts Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Envestnet Asset Management Inc. decreased its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 3.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,952,612 shares of the insurance provider's stock after selling 68,172 shares during the quarter. Envestnet Asset Management Inc. owned about 0.52% of Arch Capital Group worth $187,802,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ACGL. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Arch Capital Group by 14.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,804 shares of the insurance provider's stock worth $4,924,000 after buying an additional 6,406 shares in the last quarter. Diversified Trust Co acquired a new position in Arch Capital Group in the 1st quarter worth $435,000. Signet Financial Management LLC lifted its holdings in Arch Capital Group by 37.8% in the 1st quarter. Signet Financial Management LLC now owns 23,091 shares of the insurance provider's stock worth $2,221,000 after buying an additional 6,330 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in Arch Capital Group by 10.9% in the 1st quarter. D.A. Davidson & CO. now owns 45,552 shares of the insurance provider's stock worth $4,381,000 after buying an additional 4,460 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in Arch Capital Group by 324.1% in the 1st quarter. Farther Finance Advisors LLC now owns 4,033 shares of the insurance provider's stock worth $388,000 after buying an additional 3,082 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

ACGL has been the subject of several research analyst reports. UBS Group boosted their target price on shares of Arch Capital Group to $124.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Wells Fargo & Company boosted their target price on shares of Arch Capital Group from $106.00 to $108.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Morgan Stanley set a $110.00 target price on shares of Arch Capital Group and gave the stock an "overweight" rating in a research report on Monday, May 19th. Jefferies Financial Group downgraded shares of Arch Capital Group from a "buy" rating to a "hold" rating and dropped their target price for the stock from $106.00 to $100.00 in a research report on Tuesday, June 10th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Arch Capital Group from $106.00 to $107.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Arch Capital Group has an average rating of "Moderate Buy" and a consensus price target of $113.47.

Insider Buying and Selling at Arch Capital Group

In related news, CFO Francois Morin sold 12,630 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $94.58, for a total value of $1,194,545.40. Following the completion of the transaction, the chief financial officer owned 274,681 shares in the company, valued at $25,979,328.98. This trade represents a 4.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nicolas Papadopoulo sold 7,636 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $92.48, for a total transaction of $706,177.28. Following the completion of the transaction, the chief executive officer owned 795,718 shares of the company's stock, valued at approximately $73,588,000.64. This trade represents a 0.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,976 shares of company stock worth $10,531,038 in the last 90 days. Corporate insiders own 4.10% of the company's stock.

Arch Capital Group Price Performance

NASDAQ ACGL traded down $2.29 during trading on Wednesday, hitting $87.92. 3,287,736 shares of the company's stock were exchanged, compared to its average volume of 1,730,072. The company has a market cap of $32.95 billion, a PE ratio of 9.01, a P/E/G ratio of 6.18 and a beta of 0.51. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16. Arch Capital Group Ltd. has a fifty-two week low of $82.49 and a fifty-two week high of $116.47. The stock's 50 day moving average price is $92.13 and its two-hundred day moving average price is $92.11.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its earnings results on Tuesday, April 29th. The insurance provider reported $1.54 EPS for the quarter, missing analysts' consensus estimates of $1.59 by ($0.05). The company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.75 billion. Arch Capital Group had a return on equity of 15.79% and a net margin of 20.72%. The firm's revenue was up 10.5% compared to the same quarter last year. During the same period last year, the company posted $2.45 EPS. Research analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Arch Capital Group 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.