Cetera Investment Advisers Grows Stock Holdings 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 boosted its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 30.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,418 shares of the insurance provider's stock after purchasing an additional 13,272 shares during the period. Cetera Investment Advisers' holdings in Arch Capital Group were worth $5,426,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC bought a new position in Arch Capital Group in the fourth quarter worth approximately $25,000. Bartlett & CO. Wealth Management LLC purchased a new position in Arch Capital Group during the first quarter valued at approximately $27,000. Wayfinding Financial LLC purchased a new position in Arch Capital Group in the first quarter valued at $31,000. Grove Bank & Trust purchased a new stake in shares of Arch Capital Group in the first quarter valued at approximately $40,000. Finally, Pinnacle Bancorp Inc. purchased a new position in Arch Capital Group during the first quarter valued at $59,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Arch Capital Group news, insider Louis T. Petrillo sold 16,650 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $94.53, for a total transaction of $1,573,924.50. Following the sale, the insider directly owned 140,023 shares of the company's stock, valued at $13,236,374.19. This trade represents a 10.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John M. Pasquesi sold 75,060 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $94.01, for a total value of $7,056,390.60. Following the transaction, the insider owned 579,218 shares in the company, valued at $54,452,284.18. This trade represents a 11.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 104,340 shares of company stock worth $9,824,861 in the last quarter. Company insiders own 4.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Morgan Stanley set a $110.00 price target on shares of Arch Capital Group and gave the stock an "overweight" rating in a research report on Monday, May 19th. UBS Group cut their price objective on Arch Capital Group from $124.00 to $118.00 and set a "buy" rating for the company in a research report on Monday. Wells Fargo & Company decreased their target price on shares of Arch Capital Group from $110.00 to $107.00 and set an "overweight" rating on the stock in a research report on Thursday. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $101.00 price target (down from $113.00) on shares of Arch Capital Group in a research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of 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 issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $113.00.

Arch Capital Group Stock Performance

NASDAQ:ACGL traded up $0.51 during mid-day trading on Monday, reaching $88.51. 2,315,042 shares of the stock were exchanged, compared to its average volume of 1,929,130. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $33.17 billion, a P/E ratio of 9.13, a P/E/G ratio of 6.68 and a beta of 0.49. Arch Capital Group Ltd. has a 1 year low of $82.49 and a 1 year high of $116.47. The company has a 50 day simple moving average of $90.33 and a 200-day simple moving average of $91.57.

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