D.A. Davidson & CO. boosted its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL – Free Report) by 10.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,076 shares of the insurance provider’s stock after acquiring an additional 6,627 shares during the quarter. D.A. Davidson & CO.’s holdings in Arch Capital Group were worth $6,535,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Elyxium Wealth LLC acquired a new position in Arch Capital Group during the fourth quarter worth approximately $27,000. WealthCollab LLC lifted its position in shares of Arch Capital Group by 410.3% in the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock valued at $27,000 after buying an additional 238 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Arch Capital Group in the third quarter valued at approximately $28,000. Aventura Private Wealth LLC bought a new position in shares of Arch Capital Group during the 4th quarter worth approximately $30,000. Finally, Grove Bank & Trust bought a new position in shares of Arch Capital Group during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently issued reports on ACGL shares. Mizuho raised their target price on shares of Arch Capital Group from $101.00 to $104.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Keefe, Bruyette & Woods lowered their target price on 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. Barclays lifted their price target on Arch Capital Group from $104.00 to $106.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 8th. Citigroup upped their price objective on Arch Capital Group from $120.00 to $122.50 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. dropped their target price on Arch Capital Group from $117.00 to $110.00 and set a “neutral” rating for the company in a report on Monday, April 20th. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Arch Capital Group currently has an average rating of “Hold” and a consensus target price of $109.39.
Arch Capital Group Price Performance
Arch Capital Group stock opened at $101.35 on Friday. The stock’s 50 day moving average is $95.09 and its 200 day moving average is $95.63. Arch Capital Group Ltd. has a one year low of $82.44 and a one year high of $105.09. The firm has a market cap of $35.41 billion, a P/E ratio of 7.78, a P/E/G ratio of 4.98 and a beta of 0.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.55 and a quick ratio of 0.55.
Arch Capital Group (NASDAQ:ACGL – Get Free Report) last announced its earnings results on Tuesday, March 31st. The insurance provider reported $2.50 EPS for the quarter. The company had revenue of $4.52 billion for the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%. As a group, research analysts expect that Arch Capital Group Ltd. will post 9.35 EPS for the current year.
Insider Buying and Selling
In other news, Director Brian S. Posner sold 3,000 shares of Arch Capital Group stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total value of $58,980.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Joseph Houston purchased 5,300 shares of the stock in a transaction dated Thursday, April 30th. The stock was purchased at an average cost of $94.08 per share, for a total transaction of $498,624.00. Following the completion of the acquisition, the director owned 9,915 shares of the company’s stock, valued at approximately $932,803.20. This represents a 114.84% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 3.30% of the company’s stock.
About Arch Capital Group
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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