LPL Financial LLC Acquires 30,825 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Key Points

• LPL Financial LLC has increased its holdings in Arch Capital Group by 8.0%, now owning approximately 418,343 shares valued at about $40.2 million after purchasing an additional 30,825 shares.
• Arch Capital Group's stock has seen recent price target adjustments, with UBS raising its target to $124.00 while Wells Fargo cut theirs to $107.00, indicating mixed analyst sentiments on the stock's future performance.
• The company reported $2.58 earnings per share for its latest quarter, which exceeded analysts' estimates of $2.30, along with a revenue of $4.35 billion compared to the expected $4.29 billion.

LPL Financial LLC grew its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 418,343 shares of the insurance provider's stock after purchasing an additional 30,825 shares during the period. LPL Financial LLC owned approximately 0.11% of Arch Capital Group worth $40,236,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Inspire Advisors LLC increased its stake in shares of Arch Capital Group by 6.4% in the 1st quarter. Inspire Advisors LLC now owns 6,093 shares of the insurance provider's stock valued at $586,000 after purchasing an additional 368 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Arch Capital Group by 2.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 167,609 shares of the insurance provider's stock valued at $16,121,000 after purchasing an additional 3,428 shares during the last quarter. HB Wealth Management LLC boosted its holdings in shares of Arch Capital Group by 52.7% during the 1st quarter. HB Wealth Management LLC now owns 12,481 shares of the insurance provider's stock valued at $1,200,000 after acquiring an additional 4,309 shares in the last quarter. Applied Finance Capital Management LLC boosted its holdings in shares of Arch Capital Group by 28.6% during the 1st quarter. Applied Finance Capital Management LLC now owns 9,075 shares of the insurance provider's stock valued at $873,000 after acquiring an additional 2,020 shares in the last quarter. Finally, Mediolanum International Funds Ltd boosted its holdings in shares of Arch Capital Group by 113.4% during the 1st quarter. Mediolanum International Funds Ltd now owns 335,917 shares of the insurance provider's stock valued at $31,932,000 after acquiring an additional 178,494 shares in the last quarter. Institutional investors own 89.07% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ACGL. Wells Fargo & Company cut their price objective on Arch Capital Group from $110.00 to $107.00 and set an "overweight" rating on the stock in a report on Thursday. Morgan Stanley set a $110.00 price objective on Arch Capital Group and gave the company an "overweight" rating in a report on Monday, May 19th. UBS Group raised their price objective on Arch Capital Group to $124.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Barclays cut their price objective on 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. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and set a $101.00 price objective (down previously from $113.00) on shares of Arch Capital Group in a report on Wednesday, July 9th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $113.40.

Arch Capital Group Stock Up 2.3%

Shares of ACGL opened at $88.00 on Friday. The company has a market capitalization of $32.98 billion, a PE ratio of 9.08, a PEG ratio of 6.54 and a beta of 0.49. Arch Capital Group Ltd. has a 12 month low of $82.49 and a 12 month high of $116.47. The stock's 50-day moving average price is $90.33 and its two-hundred day moving average price is $91.62. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.30 by $0.28. The company had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.29 billion. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%. During the same period in the previous year, the business earned $2.57 EPS. On average, analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Insider Activity

In other news, insider Louis T. Petrillo sold 16,650 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.53, for a total value of $1,573,924.50. Following the transaction, the insider directly owned 140,023 shares of the company's stock, valued at $13,236,374.19. The trade was a 10.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Francois Morin sold 12,630 shares of the business'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 directly owned 274,681 shares in the company, valued at $25,979,328.98. This represents a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,340 shares of company stock valued at $9,824,861 in the last ninety days. 4.20% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding ACGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.