Envestnet Portfolio Solutions Inc. Has $646,000 Stock Position in Arch Capital Group Ltd. $ACGL

Envestnet Portfolio Solutions Inc. lessened its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 18.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 7,096 shares of the insurance provider’s stock after selling 1,627 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Arch Capital Group were worth $646,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Arch Capital Group during the first quarter worth approximately $27,000. Meeder Asset Management Inc. increased its stake in Arch Capital Group by 116.3% during the 1st quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 150 shares in the last quarter. Wayfinding Financial LLC acquired a new position in Arch Capital Group during the first quarter worth $31,000. Zions Bancorporation National Association UT bought a new position in shares of Arch Capital Group in the first quarter valued at $37,000. Finally, Hemington Wealth Management grew its holdings in shares of Arch Capital Group by 27.7% during the first quarter. Hemington Wealth Management now owns 548 shares of the insurance provider’s stock valued at $52,000 after buying an additional 119 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $86.97 on Tuesday. The firm’s 50 day moving average is $90.61 and its 200 day moving average is $90.79. The stock has a market capitalization of $32.46 billion, a P/E ratio of 8.98, a PEG ratio of 5.01 and a beta of 0.47. Arch Capital Group Ltd. has a 12 month low of $82.49 and a 12 month high of $109.61. 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) last posted its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.28. The business had revenue of $4.35 billion during the quarter, compared to analyst estimates 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 quarter in the previous year, the firm earned $2.57 EPS. On average, sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on ACGL. Cantor Fitzgerald upgraded shares of Arch Capital Group to a “hold” rating in a report on Wednesday, August 13th. Citigroup initiated coverage on Arch Capital Group in a report on Wednesday, August 13th. They set a “buy” rating and a $113.00 price objective for the company. Keefe, Bruyette & Woods raised their target price on Arch Capital Group from $102.00 to $103.00 and gave the company a “market perform” rating in a report on Thursday, August 14th. UBS Group reiterated a “buy” rating and set a $118.00 price target (down previously from $124.00) on shares of Arch Capital Group in a report on Monday, August 4th. Finally, Cowen reissued a “buy” rating on shares of Arch Capital Group in a research report on Monday, August 4th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $108.71.

Insiders Place Their Bets

In other news, insider Maamoun Rajeh sold 10,000 shares of the stock in a transaction 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 transaction, the insider owned 433,589 shares of the company’s stock, valued at $40,822,404.35. This represents a 2.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.10% of the stock is owned by corporate insiders.

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.