Wealthfront Advisers LLC Buys 6,569 Shares of Arch Capital Group Ltd. $ACGL

Wealthfront Advisers LLC increased its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 12.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 59,360 shares of the insurance provider’s stock after acquiring an additional 6,569 shares during the period. Wealthfront Advisers LLC’s holdings in Arch Capital Group were worth $5,386,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kinsale Capital Group Inc. boosted its position in Arch Capital Group by 8.2% during the 3rd quarter. Kinsale Capital Group Inc. now owns 92,026 shares of the insurance provider’s stock worth $8,350,000 after buying an additional 6,966 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Arch Capital Group by 617.2% in the third quarter. Smartleaf Asset Management LLC now owns 2,496 shares of the insurance provider’s stock worth $224,000 after purchasing an additional 2,148 shares during the last quarter. RBA Wealth Management LLC increased its holdings in Arch Capital Group by 0.3% in the third quarter. RBA Wealth Management LLC now owns 65,056 shares of the insurance provider’s stock valued at $5,903,000 after purchasing an additional 187 shares during the period. Prime Capital Investment Advisors LLC acquired a new stake in Arch Capital Group in the third quarter valued at $205,000. Finally, Poehling Capital Management INC. raised its position in Arch Capital Group by 40.8% during the 3rd quarter. Poehling Capital Management INC. now owns 6,296 shares of the insurance provider’s stock worth $571,000 after purchasing an additional 1,823 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Price Performance

ACGL stock opened at $99.85 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.53 and a quick ratio of 0.55. The company’s 50-day moving average is $95.00 and its 200-day moving average is $91.80. The stock has a market capitalization of $36.21 billion, a PE ratio of 8.59, a price-to-earnings-growth ratio of 3.95 and a beta of 0.42. Arch Capital Group Ltd. has a 1 year low of $82.44 and a 1 year high of $103.39.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Monday, February 9th. The insurance provider reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.64. The business had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.94 billion. Arch Capital Group had a return on equity of 16.73% and a net margin of 22.07%.During the same period in the previous year, the company posted $2.26 EPS. Equities research analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Arch Capital Group from $111.00 to $117.00 and gave the company a “neutral” rating in a research report on Wednesday, January 7th. Weiss Ratings raised Arch Capital Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 4th. Evercore set a $100.00 price objective on shares of Arch Capital Group and gave the company an “in-line” rating in a research note on Wednesday, January 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $97.00 target price (up previously from $93.00) on shares of Arch Capital Group in a report on Wednesday, January 14th. Finally, Roth Mkm set a $110.00 price target on Arch Capital Group and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Nine analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $108.67.

Insider Activity at Arch Capital Group

In other news, insider John M. Pasquesi sold 8,800 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $94.17, for a total transaction of $828,696.00. Following the transaction, the insider directly owned 289,556 shares of the company’s stock, valued at $27,267,488.52. This represents a 2.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Francois Morin sold 8,000 shares of the stock in a transaction on Friday, November 28th. The stock was sold at an average price of $94.62, for a total value of $756,960.00. Following the completion of the transaction, the chief financial officer owned 266,681 shares in the company, valued at approximately $25,233,356.22. This represents a 2.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 220,666 shares of company stock valued at $20,728,673. Corporate insiders own 4.20% of the company’s stock.

Arch Capital Group Company 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.