Envestnet Asset Management Inc. Purchases 298,016 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Envestnet Asset Management Inc. increased its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 170.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 473,121 shares of the insurance provider’s stock after purchasing an additional 298,016 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.12% of Arch Capital Group worth $19,862,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ACGL. CSat Investment Advisory L.P. bought a new stake in shares of Arch Capital Group in the 2nd quarter valued at about $26,000. Signaturefd LLC raised its holdings in shares of Arch Capital Group by 72.8% in the 3rd quarter. Signaturefd LLC now owns 1,118 shares of the insurance provider’s stock valued at $47,000 after purchasing an additional 471 shares during the period. Advisory Services Network LLC bought a new stake in shares of Arch Capital Group in the 2nd quarter valued at about $71,000. Capital Bank & Trust Co raised its holdings in shares of Arch Capital Group by 74.4% in the 2nd quarter. Capital Bank & Trust Co now owns 1,915 shares of the insurance provider’s stock valued at $71,000 after purchasing an additional 817 shares during the period. Finally, Beacon Investment Advisory Services Inc. bought a new stake in shares of Arch Capital Group in the 2nd quarter valued at about $200,000. 79.79% of the stock is currently owned by institutional investors.

Arch Capital Group stock opened at $41.36 on Wednesday. The stock has a market cap of $17.25 billion, a P/E ratio of 17.10, a P/E/G ratio of 1.51 and a beta of 0.64. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.27. Arch Capital Group Ltd. has a twelve month low of $24.79 and a twelve month high of $42.86. The company’s 50-day moving average price is $41.34 and its two-hundred day moving average price is $37.40.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Monday, July 29th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.08. Arch Capital Group had a net margin of 20.48% and a return on equity of 10.58%. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the business posted $0.59 EPS. The business’s revenue was up 11.2% compared to the same quarter last year. Equities analysts anticipate that Arch Capital Group Ltd. will post 2.82 earnings per share for the current fiscal year.

Several research firms have weighed in on ACGL. BidaskClub cut shares of Arch Capital Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 10th. Deutsche Bank raised shares of Arch Capital Group from a “hold” rating to a “buy” rating and set a $35.35 price target on the stock in a report on Wednesday, June 26th. UBS Group increased their price target on shares of Arch Capital Group from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, August 29th. ValuEngine cut shares of Arch Capital Group from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Finally, Barclays set a $47.00 price target on shares of Arch Capital Group and gave the company a “buy” rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Arch Capital Group has an average rating of “Hold” and a consensus target price of $39.04.

In other Arch Capital Group news, SVP W Preston Hutchings sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $39.47, for a total transaction of $986,750.00. Following the transaction, the senior vice president now owns 55,694 shares in the company, valued at approximately $2,198,242.18. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Maamoun Rajeh sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $39.08, for a total transaction of $781,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,300 shares of company stock worth $5,619,725. Company insiders own 5.20% of the company’s stock.

Arch Capital Group Company Profile

Arch Capital Group Ltd., together with its subsidiaries, provides property, casualty, and mortgage insurance and reinsurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; collateral protection, debt cancellation, and service contract reimbursement products; 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.

Further Reading: Bid-Ask Spread

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Institutional Ownership by Quarter for Arch Capital Group (NASDAQ:ACGL)

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