Sowell Financial Services LLC Sells 6,540 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Sowell Financial Services LLC cut its position in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 48.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,948 shares of the insurance provider's stock after selling 6,540 shares during the period. Sowell Financial Services LLC's holdings in Arch Capital Group were worth $668,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ACGL. Capital A Wealth Management LLC bought a new position in shares of Arch Capital Group in the fourth quarter valued at approximately $25,000. Cullen Frost Bankers Inc. acquired a new stake in Arch Capital Group during the 4th quarter valued at $37,000. Quarry LP acquired a new stake in Arch Capital Group during the 4th quarter valued at $58,000. McIlrath & Eck LLC raised its position in Arch Capital Group by 165.3% in the 4th quarter. McIlrath & Eck LLC now owns 666 shares of the insurance provider's stock valued at $62,000 after purchasing an additional 415 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in Arch Capital Group by 47.0% in the fourth quarter. Larson Financial Group LLC now owns 910 shares of the insurance provider's stock worth $84,000 after purchasing an additional 291 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ACGL. UBS Group raised their target price on Arch Capital Group to $124.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. JPMorgan Chase & Co. raised 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. Barclays dropped their target price on shares of 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. Wells Fargo & Company boosted their price objective on shares of Arch Capital Group from $106.00 to $108.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Finally, Keefe, Bruyette & Woods boosted their target price on Arch Capital Group from $104.00 to $113.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, Arch Capital Group currently has an average rating of "Moderate Buy" and an average price target of $114.63.

Arch Capital Group Trading Down 0.1%

NASDAQ:ACGL traded down $0.13 during mid-day trading on Friday, hitting $90.17. The company had a trading volume of 2,426,380 shares, compared to its average volume of 1,704,963. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. Arch Capital Group Ltd. has a fifty-two week low of $82.49 and a fifty-two week high of $116.47. The firm has a market cap of $33.79 billion, a P/E ratio of 9.24, a P/E/G ratio of 6.24 and a beta of 0.53. The business's fifty day moving average is $92.65 and its two-hundred day moving average is $92.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings results 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 net margin of 20.72% and a return on equity of 15.79%. The company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.75 billion. During the same period last year, the company earned $2.45 earnings per share. The business's revenue was up 10.5% compared to the same quarter last year. As a group, research analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Insider Buying and Selling at Arch Capital Group

In other Arch Capital Group news, insider John M. Pasquesi sold 75,060 shares of Arch Capital Group stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $94.01, for a total transaction of $7,056,390.60. Following the transaction, the insider now directly owns 579,218 shares in the company, valued at approximately $54,452,284.18. The trade was a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nicolas Papadopoulo sold 7,636 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $92.48, for a total value of $706,177.28. Following the completion of the transaction, the chief executive officer now directly owns 795,718 shares of the company's stock, valued at approximately $73,588,000.64. The trade was a 0.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 111,976 shares of company stock valued at $10,531,038. Corporate insiders own 4.20% of the company's stock.

Arch Capital Group Company 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.