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

Envestnet Asset Management Inc. decreased its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,952,612 shares of the insurance provider's stock after selling 68,172 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.52% of Arch Capital Group worth $187,802,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Arch Capital Group by 14.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,804 shares of the insurance provider's stock worth $4,924,000 after purchasing an additional 6,406 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of Arch Capital Group by 10.9% during the first 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 during the period. DAVENPORT & Co LLC acquired a new stake in shares of Arch Capital Group during the first quarter worth about $251,000. Diversified Trust Co acquired a new stake in shares of Arch Capital Group during the first quarter worth about $435,000. Finally, Signet Financial Management LLC boosted its stake in shares of Arch Capital Group by 37.8% during the first 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 during the period. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insider Activity

In other news, CEO Nicolas Papadopoulo sold 7,636 shares of the business's stock in a transaction 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 sale, the chief executive officer directly owned 795,718 shares of the company's stock, valued at $73,588,000.64. The trade was a 0.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John M. Pasquesi sold 75,060 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $94.01, for a total transaction of $7,056,390.60. Following the sale, the insider directly owned 579,218 shares of the company's stock, valued at $54,452,284.18. This represents a 11.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,976 shares of company stock valued at $10,531,038 over the last quarter. Insiders own 4.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Arch Capital Group from $106.00 to $107.00 and gave the company a "neutral" rating in a research report on Tuesday, April 8th. UBS Group raised their price objective on shares of Arch Capital Group to $124.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. JMP Securities restated a "market outperform" rating and issued a $125.00 price objective on shares of Arch Capital Group in a research report on Wednesday, April 30th. Wells Fargo & Company raised their price objective on shares of Arch Capital Group from $108.00 to $110.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Jefferies Financial Group downgraded shares of Arch Capital Group from a "buy" rating to a "hold" rating and reduced their price objective for the company from $106.00 to $100.00 in a research report on Tuesday, June 10th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $113.60.

Arch Capital Group Trading Down 0.8%

ACGL stock traded down $0.72 during midday trading on Friday, hitting $87.84. The stock had a trading volume of 1,939,858 shares, compared to its average volume of 1,737,870. The firm has a market cap of $32.92 billion, a PE ratio of 9.00, a price-to-earnings-growth ratio of 6.08 and a beta of 0.51. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56. Arch Capital Group Ltd. has a 12-month low of $82.49 and a 12-month high of $116.47. The company's 50-day moving average price is $92.05 and its 200 day moving average price is $92.06.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its earnings results on Tuesday, April 29th. The insurance provider reported $1.54 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.05). The firm had revenue of $4.52 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the previous year, the firm posted $2.45 earnings per share. On average, equities research analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

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.