Wealthfront Advisers LLC Sells 10,240 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• Wealthfront Advisers LLC cut its stake in Arch Capital Group by 15.6% in the first quarter, selling 10,240 shares and leaving it with 55,197 shares worth about $5.3 million.
• Institutional ownership remains very high, with 89.07% of Arch Capital Group stock held by institutional investors despite mixed buying and selling activity among hedge funds.
• Analysts are broadly cautious but constructive: the stock has an average rating of “Hold” and a consensus price target of $109.39, even as several firms recently raised their targets and one lowered its view.

Wealthfront Advisers LLC lowered its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 15.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,197 shares of the insurance provider's stock after selling 10,240 shares during the period. Wealthfront Advisers LLC's holdings in Arch Capital Group were worth $5,298,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in ACGL. Legal & General Group Plc grew its position in Arch Capital Group by 4.3% in the fourth quarter. Legal & General Group Plc now owns 2,944,169 shares of the insurance provider's stock valued at $282,405,000 after acquiring an additional 121,090 shares during the last quarter. National Pension Service increased its position in Arch Capital Group by 8.5% in the 4th quarter. National Pension Service now owns 683,272 shares of the insurance provider's stock valued at $65,539,000 after acquiring an additional 53,661 shares during the period. Asset Management One Co. Ltd. raised its position in Arch Capital Group by 10.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 187,002 shares of the insurance provider's stock worth $18,024,000 after purchasing an additional 17,923 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Arch Capital Group by 50.4% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,548,042 shares of the insurance provider's stock worth $148,488,000 after acquiring an additional 518,527 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Arch Capital Group by 3.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,033,834 shares of the insurance provider's stock worth $99,165,000 after purchasing an additional 33,869 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ACGL has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of Arch Capital Group from $110.00 to $114.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Citigroup raised their target price on Arch Capital Group from $120.00 to $122.50 and gave the company a "buy" rating in a report on Thursday, April 30th. Morgan Stanley boosted their price target on shares of Arch Capital Group from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday, July 6th. Cantor Fitzgerald reissued a "neutral" rating and issued a $102.00 price objective (up from $100.00) on shares of Arch Capital Group in a research report on Thursday, July 9th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Arch Capital Group from $102.00 to $99.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 8th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $109.39.

Arch Capital Group Stock Up 1.3%

Shares of NASDAQ ACGL opened at $101.35 on Friday. The business has a 50-day simple moving average of $95.09 and a two-hundred day simple moving average of $95.63. The company has a market cap of $35.41 billion, a P/E ratio of 7.78, a P/E/G ratio of 5.04 and a beta of 0.31. Arch Capital Group Ltd. has a 52 week low of $82.44 and a 52 week high of $105.09. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.15.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share for the quarter. The business had revenue of $4.52 billion for the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. Research analysts anticipate that Arch Capital Group Ltd. will post 9.35 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Daniel Joseph Houston acquired 5,300 shares of the firm's stock in a transaction that occurred on Thursday, April 30th. The shares were bought at an average cost of $94.08 per share, for a total transaction of $498,624.00. Following the completion of the transaction, the director owned 9,915 shares in the company, valued at approximately $932,803.20. This trade represents a 114.84% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian S. Posner sold 3,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total transaction of $58,980.00. Additional details regarding this sale are available in the official SEC disclosure. 3.30% of the stock is currently owned by insiders.

Arch Capital Group Profile

Arch Capital Group Ltd. NASDAQ: ACGL is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch's product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.

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