18,130 Shares in Arch Capital Group Ltd. (NASDAQ:ACGL) Purchased by Accurate Wealth Management LLC

Accurate Wealth Management LLC acquired a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) in the 3rd quarter, HoldingsChannel reports. The firm acquired 18,130 shares of the insurance provider’s stock, valued at approximately $1,959,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ACGL. State Board of Administration of Florida Retirement System increased its position in shares of Arch Capital Group by 5.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 431,105 shares of the insurance provider’s stock valued at $39,851,000 after acquiring an additional 21,332 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Arch Capital Group by 2.6% during the second quarter. Sequoia Financial Advisors LLC now owns 20,871 shares of the insurance provider’s stock valued at $2,106,000 after acquiring an additional 519 shares during the last quarter. Cetera Advisors LLC increased its position in shares of Arch Capital Group by 70.9% during the first quarter. Cetera Advisors LLC now owns 13,700 shares of the insurance provider’s stock valued at $1,266,000 after acquiring an additional 5,684 shares during the last quarter. Consolidated Portfolio Review Corp acquired a new stake in shares of Arch Capital Group during the first quarter valued at about $1,937,000. Finally, Kinsale Capital Group Inc. increased its position in shares of Arch Capital Group by 26.0% during the first quarter. Kinsale Capital Group Inc. now owns 43,860 shares of the insurance provider’s stock valued at $4,054,000 after acquiring an additional 9,064 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Arch Capital Group Stock Up 0.3 %

Shares of NASDAQ:ACGL opened at $108.53 on Friday. The company has a market capitalization of $40.75 billion, a PE ratio of 8.57, a P/E/G ratio of 2.06 and a beta of 0.59. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.16. Arch Capital Group Ltd. has a twelve month low of $72.85 and a twelve month high of $116.47. The firm has a 50 day simple moving average of $110.05 and a 200-day simple moving average of $101.82.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.21 by $0.36. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The firm had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the firm earned $1.92 EPS. Arch Capital Group’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities analysts predict that Arch Capital Group Ltd. will post 9.07 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Arch Capital Group from $108.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Wells Fargo & Company lifted their price objective on shares of Arch Capital Group from $110.00 to $126.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Royal Bank of Canada lifted their price objective on shares of Arch Capital Group from $108.00 to $112.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Evercore ISI lifted their price objective on shares of Arch Capital Group from $104.00 to $107.00 and gave the company an “in-line” rating in a report on Wednesday, October 9th. Finally, Bank of America lifted their price target on shares of Arch Capital Group from $119.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $119.53.

Insider Activity at Arch Capital Group

In related news, CFO Francois Morin sold 11,460 shares of the company’s stock in a transaction 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 $22,723,476.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.20% of the stock is owned by insiders.

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.