Kestra Private Wealth Services LLC Takes $275,000 Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Key Points

• Kestra Private Wealth Services LLC has acquired a new stake in Arch Capital Group, purchasing 2,861 shares valued at approximately $275,000.
• A total of 89.07% of Arch Capital Group's stock is currently owned by hedge funds and institutional investors, indicating strong institutional interest.
• Wall Street analysts have mixed ratings for Arch Capital Group, with a consensus rating of "Moderate Buy" and a target price averaging around $113.60.

Kestra Private Wealth Services LLC bought a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,861 shares of the insurance provider's stock, valued at approximately $275,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ACGL. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Arch Capital Group by 14.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,804 shares of the insurance provider's stock valued at $4,924,000 after purchasing an additional 6,406 shares during the last quarter. DAVENPORT & Co LLC acquired a new stake in Arch Capital Group during the 1st quarter valued at $251,000. D.A. Davidson & CO. boosted its position in shares of Arch Capital Group by 10.9% in the first quarter. D.A. Davidson & CO. now owns 45,552 shares of the insurance provider's stock valued at $4,381,000 after acquiring an additional 4,460 shares during the period. Crossmark Global Holdings Inc. boosted its position in shares of Arch Capital Group by 24.7% in the first quarter. Crossmark Global Holdings Inc. now owns 37,625 shares of the insurance provider's stock valued at $3,619,000 after acquiring an additional 7,448 shares during the period. Finally, World Investment Advisors boosted its position in shares of Arch Capital Group by 114.1% in the first quarter. World Investment Advisors now owns 6,321 shares of the insurance provider's stock valued at $608,000 after acquiring an additional 3,369 shares during the period. 89.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price 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 reiterated an "overweight" rating and set a $110.00 price objective (up from $108.00) on shares of Arch Capital Group in a research note on Thursday, July 10th. Morgan Stanley set a $110.00 price objective on Arch Capital Group and gave the company an "overweight" rating in a research note on Monday, May 19th. Jefferies Financial Group downgraded Arch Capital Group from a "buy" rating to a "hold" rating and lowered their target price for the stock from $106.00 to $100.00 in a research note on Tuesday, June 10th. Finally, Barclays lowered 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 note on Friday, April 11th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $113.60.

Insiders Place Their Bets

In other news, CFO Francois Morin sold 12,630 shares of Arch Capital Group 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 sale, the chief financial officer directly owned 274,681 shares in the company, valued at $25,979,328.98. The trade was a 4.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John M. Pasquesi sold 75,060 shares of Arch Capital Group 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 sale, the insider owned 579,218 shares in the company, valued at $54,452,284.18. The trade was a 11.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,976 shares of company stock valued at $10,531,038. 4.20% of the stock is currently owned by company insiders.

Arch Capital Group Stock Up 0.4%

Shares of ACGL traded up $0.37 during trading hours on Thursday, reaching $85.98. The stock had a trading volume of 890,597 shares, compared to its average volume of 1,905,841. Arch Capital Group Ltd. has a 12 month low of $82.49 and a 12 month high of $116.47. The firm has a 50-day simple moving average of $90.53 and a 200 day simple moving average of $91.68. 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 company has a market capitalization of $32.22 billion, a price-to-earnings ratio of 8.86, a P/E/G ratio of 5.99 and a beta of 0.51.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.29 billion. Arch Capital Group had a return on equity of 15.61% and a net margin of 19.49%. During the same period last year, the business earned $2.57 EPS. Equities research analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

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.