Curated Wealth Partners LLC cut its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL – Free Report) by 87.2% during the third quarter, HoldingsChannel.com reports. The firm owned 4,496 shares of the insurance provider’s stock after selling 30,603 shares during the period. Curated Wealth Partners LLC’s holdings in Arch Capital Group were worth $415,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the stock. Horizons Wealth Management acquired a new stake in shares of Arch Capital Group in the third quarter valued at about $25,000. Torren Management LLC grew its position in Arch Capital Group by 66.9% during the second quarter. Torren Management LLC now owns 292 shares of the insurance provider’s stock worth $28,000 after buying an additional 117 shares during the period. Continuum Advisory LLC purchased a new position in Arch Capital Group in the second quarter valued at about $46,000. MidFirst Bank purchased a new position in Arch Capital Group in the fourth quarter valued at about $46,000. Finally, Allied Private Wealth LLC purchased a new position in Arch Capital Group in the second quarter valued at about $69,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.
Arch Capital Group Trading Up 2.0%
Shares of ACGL opened at $101.27 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a 50 day simple moving average of $97.16 and a 200-day simple moving average of $96.71. Arch Capital Group Ltd. has a 1-year low of $82.44 and a 1-year high of $107.08. The stock has a market cap of $34.56 billion, a price-to-earnings ratio of 7.92, a price-to-earnings-growth ratio of 2.99 and a beta of 0.28.
Arch Capital Group (NASDAQ:ACGL – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.09. Arch Capital Group had a return on equity of 17.06% and a net margin of 24.40%. The firm had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the previous year, the firm posted $2.58 EPS. Equities analysts forecast that Arch Capital Group Ltd. will post 9.70 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on ACGL shares. Atlantic Securities set a $126.00 price target on Arch Capital Group in a research note on Wednesday, July 15th. Cantor Fitzgerald reduced their price objective on Arch Capital Group from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Wednesday, October 7th. Mizuho set a $100.00 target price on Arch Capital Group and gave the stock a “neutral” rating in a research report on Wednesday, September 16th. Wells Fargo & Company reiterated an “overweight” rating and set a $107.00 target price (down from $117.00) on shares of Arch Capital Group in a research report on Monday. Finally, JPMorgan Chase & Co. lowered their target price on Arch Capital Group from $118.00 to $113.00 and set a “neutral” rating on the stock in a report on Friday, October 9th. Six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Arch Capital Group currently has a consensus rating of “Hold” and an average target price of $108.39.
Get Our Latest Stock Analysis on ACGL
Insider Buying and Selling
In related news, CFO Francois Morin sold 11,010 shares of Arch Capital Group stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $99.32, for a total transaction of $1,093,513.20. Following the completion of the sale, the chief financial officer owned 184,826 shares in the company, valued at approximately $18,356,918.32. This trade represents a 5.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.30% of the company’s stock.
About Arch Capital Group
Arch Capital Group Ltd. is a Bermuda-based insurance, reinsurance and mortgage insurance company whose shares trade on the Nasdaq under the symbol ACGL. The company was established in 1995 and has developed into a global provider of specialty risk-management products and services.
Through its insurance operations, Arch offers property, casualty, specialty, and accident and health coverage to businesses and other policyholders. Its reinsurance operations provide coverage and risk-transfer solutions to insurance companies across a range of property and casualty lines.
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