Envestnet Portfolio Solutions Inc. Trims Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Envestnet Portfolio Solutions Inc. cut its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 51.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,723 shares of the insurance provider's stock after selling 9,181 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Arch Capital Group were worth $839,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Signet Financial Management LLC grew its holdings in Arch Capital Group by 37.8% during the 1st quarter. Signet Financial Management LLC now owns 23,091 shares of the insurance provider's stock valued at $2,221,000 after buying an additional 6,330 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Arch Capital Group by 324.1% in the first quarter. Farther Finance Advisors LLC now owns 4,033 shares of the insurance provider's stock valued at $388,000 after acquiring an additional 3,082 shares in the last quarter. Asahi Life Asset Management CO. LTD. acquired a new stake in shares of Arch Capital Group during the fourth quarter valued at $366,000. William Blair Investment Management LLC increased its position in Arch Capital Group by 33.7% during the 4th quarter. William Blair Investment Management LLC now owns 624,055 shares of the insurance provider's stock worth $57,631,000 after purchasing an additional 157,197 shares in the last quarter. Finally, Independent Advisor Alliance increased its position in Arch Capital Group by 98.8% during the 4th quarter. Independent Advisor Alliance now owns 6,925 shares of the insurance provider's stock worth $640,000 after purchasing an additional 3,442 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Price Performance

Shares of Arch Capital Group stock opened at $89.23 on Thursday. The business's fifty day moving average price is $92.48 and its 200 day moving average price is $92.25. Arch Capital Group Ltd. has a twelve month low of $82.49 and a twelve month high of $116.47. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $33.44 billion, a P/E ratio of 9.14, a PEG ratio of 6.29 and a beta of 0.53.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.59 by ($0.05). Arch Capital Group had a net margin of 20.72% and a return on equity of 15.79%. The firm had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.75 billion. During the same period in the prior year, the firm earned $2.45 earnings per share. The business's revenue for the quarter was up 10.5% on a year-over-year basis. As a group, research analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Insider Activity at Arch Capital Group

In related news, CEO Nicolas Papadopoulo sold 7,636 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $92.48, for a total value of $706,177.28. Following the completion of the sale, the chief executive officer now directly owns 795,718 shares in the company, valued at approximately $73,588,000.64. This represents a 0.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Francois Morin sold 12,630 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 274,681 shares in the company, valued at $25,979,328.98. This trade represents a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,976 shares of company stock worth $10,531,038. Company insiders own 4.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays reduced their target price on shares of Arch Capital Group from $100.00 to $93.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. Wells Fargo & Company upped their price objective on shares of Arch Capital Group from $106.00 to $108.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Morgan Stanley set a $110.00 target price on shares of Arch Capital Group and gave the stock an "overweight" rating in a research report on Monday, May 19th. JPMorgan Chase & Co. boosted their price target on Arch Capital Group from $106.00 to $107.00 and gave the company a "neutral" rating in a report on Tuesday, April 8th. Finally, UBS Group increased 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. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $114.63.

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.

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