Envestnet Asset Management Inc. Trims Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Envestnet Asset Management Inc. decreased its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 12.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,288,249 shares of the insurance provider’s stock after selling 332,558 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.61% of Arch Capital Group worth $169,948,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ACGL. Harbor Capital Advisors Inc. raised its position in Arch Capital Group by 2.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,448 shares of the insurance provider’s stock valued at $405,000 after purchasing an additional 144 shares during the period. SRS Capital Advisors Inc. raised its position in shares of Arch Capital Group by 15.2% in the 3rd quarter. SRS Capital Advisors Inc. now owns 1,107 shares of the insurance provider’s stock worth $88,000 after acquiring an additional 146 shares in the last quarter. Chase Investment Counsel Corp raised its position in shares of Arch Capital Group by 0.4% in the 4th quarter. Chase Investment Counsel Corp now owns 39,656 shares of the insurance provider’s stock worth $2,945,000 after acquiring an additional 148 shares in the last quarter. Legacy Wealth Asset Management LLC increased its position in Arch Capital Group by 2.2% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 6,985 shares of the insurance provider’s stock valued at $519,000 after buying an additional 149 shares in the last quarter. Finally, Balentine LLC increased its position in Arch Capital Group by 2.8% during the 4th quarter. Balentine LLC now owns 5,527 shares of the insurance provider’s stock valued at $410,000 after buying an additional 149 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling at Arch Capital Group

In related news, CEO David Gansberg sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $96.64, for a total value of $966,400.00. Following the sale, the chief executive officer now owns 228,035 shares of the company’s stock, valued at approximately $22,037,302.40. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.20% of the stock is owned by corporate insiders.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $100.57 on Friday. The stock has a market capitalization of $37.76 billion, a PE ratio of 7.94, a price-to-earnings-growth ratio of 1.87 and a beta of 0.60. Arch Capital Group Ltd. has a 52-week low of $69.49 and a 52-week high of $103.79. The stock’s 50-day moving average price is $96.30 and its 200 day moving average price is $87.42. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.17.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Monday, April 29th. The insurance provider reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.39. Arch Capital Group had a return on equity of 21.85% and a net margin of 33.65%. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the company earned $1.73 EPS. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, equities research analysts forecast that Arch Capital Group Ltd. will post 8.51 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wells Fargo & Company increased their price objective on Arch Capital Group from $109.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Morgan Stanley increased their price target on Arch Capital Group from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Deutsche Bank Aktiengesellschaft increased their price target on Arch Capital Group from $103.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. StockNews.com raised Arch Capital Group from a “hold” rating to a “buy” rating in a research note on Sunday, June 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $98.00 price target on shares of Arch Capital Group in a research report on Friday, February 16th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Arch Capital Group has an average rating of “Moderate Buy” and an average price target of $101.33.

Arch Capital Group Profile

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.