HB Wealth Management LLC Boosts Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

Key Points

• HB Wealth Management LLC has increased its holdings in Arch Capital Group Ltd. by 52.7%, now owning a total of 12,481 shares valued at approximately $1.2 million.
• Several institutional investors significantly modified their positions in Arch Capital Group, with First Trust Advisors LP increasing its holdings by 663.3% in the fourth quarter.
• Arch Capital Group reported $2.58 earnings per share for its most recent quarter, exceeding analysts' expectations by $0.28, and is projected to achieve 8.42 earnings per share for the current fiscal year.

HB Wealth Management LLC lifted its position in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 52.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,481 shares of the insurance provider's stock after purchasing an additional 4,309 shares during the quarter. HB Wealth Management LLC's holdings in Arch Capital Group were worth $1,200,000 at the end of the most recent quarter.

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

Insider Activity

In other news, 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 transaction of $1,573,924.50. Following the completion of the transaction, the insider directly owned 140,023 shares in the company, valued at $13,236,374.19. This trade represents a 10.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John M. Pasquesi sold 75,060 shares of the business's stock in a transaction on 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 completion of the transaction, the insider owned 579,218 shares of the company's stock, valued at $54,452,284.18. This represents a 11.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 104,340 shares of company stock worth $9,824,861 over the last three months. 4.20% of the stock is currently owned by corporate insiders.

Arch Capital Group Stock Up 2.3%

Shares of NASDAQ:ACGL traded up $1.94 during trading on Friday, hitting $88.00. The stock had a trading volume of 2,846,750 shares, compared to its average volume of 1,926,353. Arch Capital Group Ltd. has a 12 month low of $82.49 and a 12 month high of $116.47. 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 firm's fifty day moving average is $90.41 and its 200 day moving average is $91.64. The company has a market capitalization of $32.98 billion, a PE ratio of 9.08, a PEG ratio of 5.90 and a beta of 0.51.

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, beating the consensus estimate of $2.30 by $0.28. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%. The firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period last year, the company earned $2.57 earnings per share. Analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ACGL has been the subject of several research analyst reports. Wells Fargo & Company dropped their price objective on Arch Capital Group from $110.00 to $107.00 and set an "overweight" rating for the company in a report on Thursday. Morgan Stanley set a $110.00 price objective on Arch Capital Group and gave the stock an "overweight" rating in a report on Monday, May 19th. JMP Securities reiterated a "market outperform" rating and issued a $125.00 price objective on shares of Arch Capital Group in a report on Wednesday, April 30th. JPMorgan Chase & Co. increased their price objective on Arch Capital Group from $106.00 to $107.00 and gave the stock a "neutral" rating in a report on Tuesday, April 8th. Finally, UBS Group increased their price objective on Arch Capital Group to $124.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $113.40.

Arch Capital Group 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.