Wealth Enhancement Advisory Services LLC Buys 23,028 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Arch Capital Group by 31.9%, acquiring an additional 23,028 shares, bringing its total holdings to 95,184 shares valued at $8,489,000.
• Several analysts have set new price targets for Arch Capital Group, with Citigroup issuing a "buy" rating and a target price of $113.00, while Wells Fargo lowered theirs from $110.00 to $107.00.
• Arch Capital Group reported earnings of $2.58 per share for the last quarter, exceeding estimates and achieving a net margin of 19.49% with revenues of $4.35 billion.

Wealth Enhancement Advisory Services LLC boosted its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 31.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 95,184 shares of the insurance provider's stock after buying an additional 23,028 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Arch Capital Group were worth $8,489,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ACGL. Capital A Wealth Management LLC purchased a new position in shares of Arch Capital Group in the 4th quarter valued at approximately $25,000. Bartlett & CO. Wealth Management LLC purchased a new position in Arch Capital Group during the first quarter valued at $27,000. Meeder Asset Management Inc. lifted its position in Arch Capital Group by 116.3% during the first quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock valued at $27,000 after buying an additional 150 shares during the period. Wayfinding Financial LLC bought a new stake in shares of Arch Capital Group during the 1st quarter valued at $31,000. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Arch Capital Group in the 1st quarter worth about $37,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on ACGL shares. Cantor Fitzgerald raised shares of Arch Capital Group to a "hold" rating in a research note on Wednesday, August 13th. Keefe, Bruyette & Woods boosted their price target on Arch Capital Group from $102.00 to $103.00 and gave the stock a "market perform" rating in a research report on Thursday, August 14th. Wolfe Research initiated coverage on Arch Capital Group in a research report on Monday, September 15th. They set a "peer perform" rating for the company. Citigroup initiated coverage on Arch Capital Group in a report on Wednesday, August 13th. They issued a "buy" rating and a $113.00 target price on the stock. Finally, Wells Fargo & Company cut their target price on Arch Capital Group from $110.00 to $107.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Arch Capital Group presently has a consensus rating of "Moderate Buy" and an average price target of $109.36.

Arch Capital Group Trading Up 0.5%

Arch Capital Group stock opened at $88.46 on Wednesday. Arch Capital Group Ltd. has a one year low of $82.49 and a one year high of $116.47. The business's fifty day moving average is $89.73 and its 200 day moving average is $91.20. The stock has a market capitalization of $33.02 billion, a PE ratio of 9.13, a price-to-earnings-growth ratio of 5.39 and a beta of 0.51. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56.

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

Insider Transactions at Arch Capital Group

In other Arch Capital Group news, insider Maamoun Rajeh sold 10,000 shares of Arch Capital Group stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $94.15, for a total value of $941,500.00. Following the completion of the sale, the insider owned 433,589 shares of the company's stock, valued at approximately $40,822,404.35. The trade was a 2.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.10% of the company's stock.

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.

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