Cetera Investment Advisers Raises Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

Key Points

• Cetera Investment Advisers increased its holdings in Arch Capital Group Ltd. by 30.8% in the first quarter, bringing their total shares to 56,418, valued at approximately $5.4 million.
• Insider Louis T. Petrillo sold 16,650 shares of the company, while John M. Pasquesi sold 75,060 shares, indicating a trend of insider selling at Arch Capital.
• Arch Capital Group reported EPS of $2.58 for the latest quarter, surpassing expectations, and currently has a consensus target price of $113.40 from analysts.

Cetera Investment Advisers lifted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 30.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,418 shares of the insurance provider's stock after acquiring an additional 13,272 shares during the quarter. Cetera Investment Advisers' holdings in Arch Capital Group were worth $5,426,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Capital A Wealth Management LLC purchased a new stake in shares of Arch Capital Group during the 4th quarter worth approximately $25,000. Bartlett & CO. Wealth Management LLC acquired a new stake in Arch Capital Group in the 1st quarter valued at about $27,000. Wayfinding Financial LLC purchased a new position in Arch Capital Group during the first quarter worth $31,000. Grove Bank & Trust purchased a new stake in shares of Arch Capital Group during the first quarter worth about $40,000. Finally, Quarry LP purchased a new position in shares of Arch Capital Group during the 4th quarter worth about $58,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 12,630 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $94.58, for a total transaction of $1,194,545.40. Following the completion of the sale, the chief financial officer owned 274,681 shares of the company's stock, valued at $25,979,328.98. This trade represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Louis T. Petrillo sold 16,650 shares of the firm's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $94.53, for a total value of $1,573,924.50. Following the transaction, the insider owned 140,023 shares of the company's stock, valued at approximately $13,236,374.19. This represents a 10.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,340 shares of company stock valued at $9,824,861. 4.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ACGL shares. UBS Group restated a "buy" rating and issued a $118.00 price target (down previously from $124.00) on shares of Arch Capital Group in a research note on Monday. Barclays dropped their price target on shares of Arch Capital Group from $100.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. JMP Securities reaffirmed a "market outperform" rating and set a $125.00 target price on shares of Arch Capital Group in a research note on Wednesday, April 30th. JPMorgan Chase & Co. increased their target price 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. Finally, Cowen reaffirmed a "buy" rating on shares of Arch Capital Group in a research note on Monday. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $113.07.

Arch Capital Group Trading Up 1.1%

Shares of NASDAQ:ACGL traded up $0.99 during trading hours on Wednesday, hitting $89.65. 981,630 shares of the company's stock traded hands, compared to its average volume of 1,920,943. The firm has a market capitalization of $33.60 billion, a P/E ratio of 9.25, a price-to-earnings-growth ratio of 6.63 and a beta of 0.49. 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 1 year low of $82.49 and a 1 year high of $116.47. The business has a fifty day moving average price of $90.14 and a 200-day moving average price of $91.50.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.28. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.29 billion. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%. During the same quarter last year, the company earned $2.57 earnings per share. Equities analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

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.