Evolve Private Wealth LLC Makes New Investment in Arch Capital Group Ltd. $ACGL

Key Points

• Evolve Private Wealth LLC opened a new position in Arch Capital Group during the fourth quarter, buying 33,834 shares valued at about $3.25 million.
• Other institutional investors also added to their stakes, and overall institutional ownership stands at 89.07%, showing continued heavy interest from large holders.
• Wall Street sentiment is mixed on ACGL: analysts currently have an average “Hold” rating with a consensus price target of $106.81, while the stock recently traded at $92.37.

Evolve Private Wealth LLC acquired a new stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 33,834 shares of the insurance provider's stock, valued at approximately $3,245,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Legal & General Group Plc grew its position in Arch Capital Group by 4.3% during the 4th quarter. Legal & General Group Plc now owns 2,944,169 shares of the insurance provider's stock worth $282,405,000 after acquiring an additional 121,090 shares during the last quarter. JPMorgan Chase & Co. raised its position in Arch Capital Group by 4.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,190,927 shares of the insurance provider's stock valued at $743,168,000 after purchasing an additional 360,626 shares during the last quarter. NEOS Investment Management LLC raised its position in Arch Capital Group by 49.1% in the 3rd quarter. NEOS Investment Management LLC now owns 49,652 shares of the insurance provider's stock valued at $4,505,000 after purchasing an additional 16,343 shares during the last quarter. National Pension Service boosted its stake in Arch Capital Group by 8.5% in the fourth quarter. National Pension Service now owns 683,272 shares of the insurance provider's stock worth $65,539,000 after purchasing an additional 53,661 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in Arch Capital Group by 10.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 187,002 shares of the insurance provider's stock worth $18,024,000 after purchasing an additional 17,923 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ACGL. Morgan Stanley set a $105.00 price target on shares of Arch Capital Group in a research report on Friday, May 1st. Citigroup upped their target price on shares of Arch Capital Group from $120.00 to $122.50 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Keefe, Bruyette & Woods decreased their price target on shares of Arch Capital Group from $105.00 to $102.00 and set a "market perform" rating on the stock in a research note on Tuesday, May 5th. Mizuho dropped their price objective on shares of Arch Capital Group from $102.00 to $101.00 and set a "neutral" rating for the company in a research report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. reduced their price objective on Arch Capital Group from $117.00 to $110.00 and set a "neutral" rating on the stock in a report on Monday, April 20th. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $106.81.

Insiders Place Their Bets

In other news, Director Brian S. Posner sold 3,000 shares of the firm's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total value of $58,980.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Daniel Joseph Houston acquired 5,300 shares of the company's stock in a transaction that occurred on Thursday, April 30th. The stock was bought at an average price of $94.08 per share, with a total value of $498,624.00. Following the acquisition, the director directly owned 9,915 shares of the company's stock, valued at $932,803.20. The trade was a 114.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 3.30% of the stock is currently owned by insiders.

Arch Capital Group Stock Performance

Arch Capital Group stock opened at $92.37 on Thursday. The company has a market cap of $32.27 billion, a PE ratio of 7.09, a PEG ratio of 4.63 and a beta of 0.32. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.15. Arch Capital Group Ltd. has a 1 year low of $82.44 and a 1 year high of $103.39. The company's 50-day moving average is $94.18 and its two-hundred day moving average is $94.99.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $2.50 EPS for the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. The company had revenue of $4.52 billion during the quarter. Equities analysts anticipate that Arch Capital Group Ltd. will post 9.3 earnings per share for the current year.

Arch Capital Group Profile

Arch Capital Group Ltd. NASDAQ: ACGL is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch's product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.

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