NewEdge Wealth LLC Acquires New Shares in Arch Capital Group Ltd. (NASDAQ:ACGL)

NewEdge Wealth LLC acquired a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,958 shares of the insurance provider’s stock, valued at approximately $220,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Householder Group Estate & Retirement Specialist LLC purchased a new stake in Arch Capital Group in the fourth quarter valued at approximately $27,000. CENTRAL TRUST Co raised its position in Arch Capital Group by 57.3% in the third quarter. CENTRAL TRUST Co now owns 692 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 252 shares during the period. First Horizon Advisors Inc. raised its position in Arch Capital Group by 151.0% in the first quarter. First Horizon Advisors Inc. now owns 497 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 299 shares during the period. Steward Financial Group LLC raised its position in Arch Capital Group by 180.7% in the third quarter. Steward Financial Group LLC now owns 525 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 338 shares during the period. Finally, CVA Family Office LLC purchased a new stake in Arch Capital Group in the fourth quarter valued at approximately $47,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Arch Capital Group

In other Arch Capital Group news, insider Nicolas Papadopoulo sold 60,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $87.52, for a total value of $5,251,200.00. Following the completion of the transaction, the insider now owns 651,931 shares in the company, valued at $57,057,001.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Maamoun Rajeh sold 50,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total transaction of $4,374,000.00. Following the completion of the sale, the chief executive officer now owns 336,170 shares in the company, valued at $29,408,151.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicolas Papadopoulo sold 60,000 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $87.52, for a total transaction of $5,251,200.00. Following the sale, the insider now owns 651,931 shares of the company’s stock, valued at approximately $57,057,001.12. The disclosure for this sale can be found here. Insiders sold 135,689 shares of company stock worth $11,872,217 over the last 90 days. Corporate insiders own 4.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ACGL. Evercore ISI boosted their target price on Arch Capital Group from $92.00 to $100.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. UBS Group cut their target price on Arch Capital Group from $101.00 to $97.00 and set a “buy” rating on the stock in a research report on Wednesday, January 10th. Wells Fargo & Company upped their price objective on Arch Capital Group from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. TD Cowen initiated coverage on Arch Capital Group in a research report on Wednesday, January 10th. They set an “outperform” rating and a $96.00 price objective on the stock. Finally, Morgan Stanley upped their price objective on Arch Capital Group from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Arch Capital Group has an average rating of “Moderate Buy” and an average price target of $96.23.

Arch Capital Group Stock Performance

NASDAQ:ACGL opened at $91.39 on Friday. The firm has a market capitalization of $34.28 billion, a PE ratio of 7.86, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. The business’s fifty day moving average price is $89.36 and its 200 day moving average price is $83.89. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.57 and a quick ratio of 0.57. Arch Capital Group Ltd. has a 12 month low of $69.05 and a 12 month high of $95.01.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Thursday, February 15th. The insurance provider reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.55. Arch Capital Group had a net margin of 32.59% and a return on equity of 21.94%. The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter in the prior year, the firm posted $2.14 earnings per share. On average, sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.03 earnings per share for the current fiscal year.

About Arch Capital Group

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.