Free Trial

Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 119,447 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Arch Capital Group logo with Finance background

Key Points

  • Empirical Financial Services LLC has reduced its stake in Arch Capital Group Ltd. by 60.6%, selling 119,447 shares and retaining 77,664 shares valued at approximately $7,470,000 at the end of the first quarter.
  • Analysts show mixed ratings on Arch Capital Group with eight analystseight analysts$113.60.
  • Insider trading activity includes CEO Nicolas Papadopoulo selling 7,636 shares for around $706,177, while other insiders sold a total of 111,976 shares valued at over $10.5 million in the last 90 days.
  • MarketBeat previews the top five stocks to own by September 1st.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management trimmed its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 60.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,664 shares of the insurance provider's stock after selling 119,447 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Arch Capital Group were worth $7,470,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted 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 during the period. DAVENPORT & Co LLC bought a new stake in shares of Arch Capital Group during the 1st quarter valued at $251,000. D.A. Davidson & CO. lifted its holdings in Arch Capital Group by 10.9% during the 1st quarter. D.A. Davidson & CO. now owns 45,552 shares of the insurance provider's stock worth $4,381,000 after purchasing an additional 4,460 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in Arch Capital Group by 24.7% in the 1st quarter. Crossmark Global Holdings Inc. now owns 37,625 shares of the insurance provider's stock worth $3,619,000 after purchasing an additional 7,448 shares during the period. Finally, World Investment Advisors increased its position in shares of Arch Capital Group by 114.1% during the first quarter. World Investment Advisors now owns 6,321 shares of the insurance provider's stock valued at $608,000 after buying an additional 3,369 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Francois Morin sold 12,630 shares of Arch Capital Group stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $94.58, for a total transaction of $1,194,545.40. Following the completion of the transaction, the chief financial officer directly owned 274,681 shares of the company's stock, valued at $25,979,328.98. This trade represents a 4.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Louis T. Petrillo sold 16,650 shares of the company's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.53, for a total transaction of $1,573,924.50. Following the completion of the sale, the insider owned 140,023 shares in the company, valued at approximately $13,236,374.19. This trade represents a 10.63% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,340 shares of company stock worth $9,824,861. 4.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on ACGL. Jefferies Financial Group lowered Arch Capital Group from a "buy" rating to a "hold" rating and decreased their target price for the stock from $106.00 to $100.00 in a research note on Tuesday, June 10th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $101.00 price target (down previously from $113.00) on shares of Arch Capital Group in a report on Wednesday, July 9th. Morgan Stanley set a $110.00 price objective on shares of Arch Capital Group and gave the company an "overweight" rating in a research report on Monday, May 19th. UBS Group lifted their price target on Arch Capital Group to $124.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. Finally, Barclays dropped 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 report on Friday, April 11th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $113.40.

View Our Latest Report on ACGL

Arch Capital Group Trading Up 2.3%

Shares of NASDAQ:ACGL traded up $1.94 on Friday, hitting $88.00. The company had a trading volume of 2,846,752 shares, compared to its average volume of 2,782,390. The firm's 50-day simple moving average is $90.33 and its two-hundred day simple moving average is $91.62. The firm has a market capitalization of $32.98 billion, a price-to-earnings ratio of 9.08, a P/E/G ratio of 6.69 and a beta of 0.49. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16. Arch Capital Group Ltd. has a 1 year low of $82.49 and a 1 year high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 EPS 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 analyst estimates 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 last year, the business posted $2.57 earnings per share. Equities analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

About Arch Capital Group

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for Arch Capital Group (NASDAQ:ACGL)

Should You Invest $1,000 in Arch Capital Group Right Now?

Before you consider Arch Capital Group, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Arch Capital Group wasn't on the list.

While Arch Capital Group currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks to Buy And Hold Forever Cover

Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Value Plays Set to Explode
5 Stocks to BUY NOW in August 2025
The $2.5B Merger No One Is Talking About

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines