Envestnet Asset Management Inc. Reduces Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

Envestnet Asset Management Inc. reduced its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 15.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,020,784 shares of the insurance provider’s stock after selling 368,725 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Arch Capital Group were worth $186,619,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Quantbot Technologies LP bought a new stake in Arch Capital Group in the third quarter valued at $25,000. Cullen Frost Bankers Inc. bought a new stake in shares of Arch Capital Group during the 4th quarter valued at about $37,000. Golden State Wealth Management LLC purchased a new position in shares of Arch Capital Group during the fourth quarter valued at about $42,000. Y.D. More Investments Ltd raised its stake in Arch Capital Group by 125.6% in the fourth quarter. Y.D. More Investments Ltd now owns 467 shares of the insurance provider’s stock worth $43,000 after buying an additional 260 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in Arch Capital Group by 97.0% in the fourth quarter. UMB Bank n.a. now owns 841 shares of the insurance provider’s stock worth $78,000 after buying an additional 414 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Arch Capital Group news, insider Louis T. Petrillo sold 11,600 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $91.00, for a total value of $1,055,600.00. Following the transaction, the insider now owns 140,023 shares of the company’s stock, valued at approximately $12,742,093. This represents a 7.65 % decrease in their ownership of the stock. The transaction 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 corporate insiders.

Arch Capital Group Price Performance

ACGL opened at $87.83 on Monday. The company’s 50-day simple moving average is $92.23 and its two-hundred day simple moving average is $97.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.58 and a current ratio of 0.54. The stock has a market capitalization of $33.00 billion, a P/E ratio of 7.84, a P/E/G ratio of 2.31 and a beta of 0.36. Arch Capital Group Ltd. has a 52-week low of $87.42 and a 52-week high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Monday, February 10th. The insurance provider reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.36. Arch Capital Group had a net margin of 24.73% and a return on equity of 17.96%. During the same quarter in the prior year, the business earned $2.45 EPS. As a group, analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Wall Street Analyst Weigh In

ACGL has been the topic of a number of research analyst reports. Royal Bank of Canada reduced their target price on Arch Capital Group from $125.00 to $110.00 and set an “outperform” rating on the stock in a report on Wednesday, February 12th. JPMorgan Chase & Co. decreased their price objective on Arch Capital Group from $110.00 to $106.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Morgan Stanley dropped their target price on shares of Arch Capital Group from $115.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Barclays decreased their price target on shares of Arch Capital Group from $120.00 to $100.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Finally, Wells Fargo & Company dropped their price objective on shares of Arch Capital Group from $107.00 to $106.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 12th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $117.19.

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.