Institute for Wealth Management LLC. increased its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 94.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,679 shares of the insurance provider's stock after buying an additional 4,218 shares during the period. Institute for Wealth Management LLC.'s holdings in Arch Capital Group were worth $835,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in ACGL. Vanguard Group Inc. boosted its holdings in Arch Capital Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 41,999,603 shares of the insurance provider's stock worth $3,878,663,000 after buying an additional 182,150 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Arch Capital Group by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 11,010,756 shares of the insurance provider's stock valued at $1,014,648,000 after acquiring an additional 180,493 shares during the period. Nuveen Asset Management LLC boosted its stake in Arch Capital Group by 1.9% during the 4th quarter. Nuveen Asset Management LLC now owns 4,888,997 shares of the insurance provider's stock worth $451,499,000 after acquiring an additional 93,226 shares during the last quarter. Northern Trust Corp boosted its stake in Arch Capital Group by 11.3% during the 4th quarter. Northern Trust Corp now owns 4,860,804 shares of the insurance provider's stock worth $448,895,000 after acquiring an additional 495,262 shares during the last quarter. Finally, Norges Bank acquired a new position in Arch Capital Group during the fourth quarter valued at approximately $437,291,000. Institutional investors own 89.07% of the company's stock.
Analysts Set New Price Targets
Several analysts have commented on ACGL shares. Jefferies Financial Group downgraded shares of Arch Capital Group from a "buy" rating to a "hold" rating and dropped their target price for the stock from $106.00 to $100.00 in a report on Tuesday, June 10th. UBS Group increased their price objective on shares of Arch Capital Group to $124.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. JPMorgan Chase & Co. boosted their price objective on shares of Arch Capital Group from $106.00 to $107.00 and gave the company a "neutral" rating in a research report on Tuesday, April 8th. Wells Fargo & Company upped their target price on shares of Arch Capital Group from $106.00 to $108.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Finally, JMP Securities reiterated a "market outperform" rating and set a $125.00 target price on shares of Arch Capital Group in a report on Wednesday, April 30th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Arch Capital Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $114.63.
Get Our Latest Analysis on Arch Capital Group
Insiders Place Their Bets
In other Arch Capital Group news, CEO Nicolas Papadopoulo sold 7,636 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $92.48, for a total transaction of $706,177.28. Following the completion of the sale, the chief executive officer now owns 795,718 shares in the company, valued at approximately $73,588,000.64. The trade was a 0.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Francois Morin sold 12,630 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $94.58, for a total transaction of $1,194,545.40. Following the transaction, the chief financial officer now owns 274,681 shares in the company, valued at approximately $25,979,328.98. The trade was a 4.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,976 shares of company stock worth $10,531,038. 4.20% of the stock is currently owned by insiders.
Arch Capital Group Stock Up 0.2%
Shares of NASDAQ:ACGL opened at $90.30 on Friday. The firm has a market cap of $33.84 billion, a P/E ratio of 9.25, a P/E/G ratio of 6.24 and a beta of 0.53. Arch Capital Group Ltd. has a 12-month low of $82.49 and a 12-month high of $116.47. The business has a fifty day simple moving average of $92.65 and a 200 day simple moving average of $92.47. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16.
Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The insurance provider reported $1.54 EPS for the quarter, missing analysts' consensus estimates of $1.59 by ($0.05). Arch Capital Group had a return on equity of 15.79% and a net margin of 20.72%. The company 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. Arch Capital Group's revenue was up 10.5% compared to the same quarter last year. Analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current 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.
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