Assetmark Inc. Purchases 6,281 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Key Points

• Assetmark Inc. has increased its stake in Arch Capital Group by 0.6%, now owning over 1 million shares valued at approximately $98.6 million.
• Several analysts have provided mixed ratings on Arch Capital Group, with average price targets ranging from $100 to $125 and a consensus rating of "Moderate Buy."
• Recent insider trading included the sales of over 111,000 shares by insiders, highlighting a 4.20% insider ownership of the company's stock.

Assetmark Inc. grew its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,025,391 shares of the insurance provider's stock after purchasing an additional 6,281 shares during the quarter. Assetmark Inc. owned approximately 0.27% of Arch Capital Group worth $98,622,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ACGL. Capital A Wealth Management LLC acquired a new position in shares of Arch Capital Group in the 4th quarter valued at $25,000. Bartlett & CO. Wealth Management LLC acquired a new stake in Arch Capital Group during the 1st quarter worth approximately $27,000. Wayfinding Financial LLC acquired a new stake in Arch Capital Group during the 1st quarter worth approximately $31,000. Grove Bank & Trust acquired a new position in Arch Capital Group during the first quarter valued at approximately $40,000. Finally, Pinnacle Bancorp Inc. acquired a new position in Arch Capital Group during the first quarter valued at approximately $59,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Arch Capital Group to $124.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. JMP Securities reissued 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. Barclays lowered their target price on Arch Capital Group from $100.00 to $93.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. Morgan Stanley set a $110.00 target price on Arch Capital Group and gave the company an "overweight" rating in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. upped their price target on Arch Capital Group from $106.00 to $107.00 and gave the stock a "neutral" rating in a report on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $113.60.

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 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 transaction, the chief financial officer directly owned 274,681 shares in the company, valued at approximately $25,979,328.98. This trade represents a 4.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Nicolas Papadopoulo sold 7,636 shares of the firm'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 transaction, the chief executive officer owned 795,718 shares in the company, valued at $73,588,000.64. The trade was a 0.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,976 shares of company stock worth $10,531,038. Company insiders own 4.20% of the company's stock.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL traded up $0.89 during trading on Friday, reaching $88.89. The company had a trading volume of 2,552,610 shares, compared to its average volume of 2,684,975. The firm's fifty day moving average is $91.01 and its 200 day moving average is $91.79. The firm has a market capitalization of $33.31 billion, a PE ratio of 9.11, a price-to-earnings-growth ratio of 6.12 and a beta of 0.51. Arch Capital Group Ltd. has a twelve month low of $82.49 and a twelve month high of $116.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56.

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