Arch Capital Group Ltd. (NASDAQ:ACGL) Position Increased by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc increased its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 4.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,884 shares of the insurance provider’s stock after acquiring an additional 115 shares during the period. Marks Group Wealth Management Inc’s holdings in Arch Capital Group were worth $323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in ACGL. Arthur M. Cohen & Associates LLC increased its holdings in shares of Arch Capital Group by 9.6% in the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 31,855 shares of the insurance provider’s stock worth $3,616,000 after acquiring an additional 2,781 shares during the period. Pittenger & Anderson Inc. grew its position in Arch Capital Group by 26.2% in the 3rd quarter. Pittenger & Anderson Inc. now owns 4,290 shares of the insurance provider’s stock worth $480,000 after purchasing an additional 890 shares during the last quarter. Amalgamated Bank increased its stake in shares of Arch Capital Group by 9.3% in the third quarter. Amalgamated Bank now owns 81,744 shares of the insurance provider’s stock valued at $9,146,000 after purchasing an additional 6,948 shares during the period. Moloney Securities Asset Management LLC raised its holdings in shares of Arch Capital Group by 17.6% during the third quarter. Moloney Securities Asset Management LLC now owns 28,108 shares of the insurance provider’s stock valued at $3,145,000 after buying an additional 4,205 shares during the last quarter. Finally, PDS Planning Inc acquired a new position in shares of Arch Capital Group during the third quarter worth approximately $216,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on ACGL. StockNews.com cut Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. BMO Capital Markets lifted their price objective on shares of Arch Capital Group from $98.00 to $104.00 and gave the company a “market perform” rating in a research note on Wednesday. Bank of America increased their target price on shares of Arch Capital Group from $119.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. raised their target price on shares of Arch Capital Group from $108.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, Citigroup upped their price target on shares of Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Arch Capital Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.88.

Arch Capital Group Stock Performance

Shares of NASDAQ ACGL opened at $101.70 on Thursday. The stock’s fifty day simple moving average is $109.86 and its 200 day simple moving average is $102.92. The stock has a market capitalization of $38.25 billion, a price-to-earnings ratio of 6.83, a PEG ratio of 1.36 and a beta of 0.61. The company has a quick ratio of 0.60, a current ratio of 0.58 and a debt-to-equity ratio of 0.17. Arch Capital Group Ltd. has a 52-week low of $72.85 and a 52-week high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.05. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. The firm had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter last year, the business posted $2.31 EPS. As a group, sell-side analysts forecast that Arch Capital Group Ltd. will post 9.09 earnings per share for the current fiscal year.

Insider Transactions at Arch Capital Group

In related news, CFO Francois Morin sold 11,460 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the sale, the chief financial officer now owns 221,779 shares in the company, valued at approximately $22,723,476.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.20% of the stock is currently owned by insiders.

Arch Capital Group Company 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.