Private Advisor Group LLC Sells 615 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Private Advisor Group LLC reduced its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 6.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,459 shares of the insurance provider’s stock after selling 615 shares during the quarter. Private Advisor Group LLC’s holdings in Arch Capital Group were worth $782,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Davis Asset Management L.P. lifted its holdings in Arch Capital Group by 441.7% in the fourth quarter. Davis Asset Management L.P. now owns 6,500,000 shares of the insurance provider’s stock valued at $482,755,000 after buying an additional 5,300,000 shares during the period. Norges Bank bought a new stake in Arch Capital Group in the fourth quarter valued at about $309,496,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Arch Capital Group by 61.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,191,282 shares of the insurance provider’s stock valued at $237,017,000 after buying an additional 1,216,080 shares during the period. Principal Financial Group Inc. boosted its holdings in Arch Capital Group by 11.4% during the first quarter. Principal Financial Group Inc. now owns 6,800,236 shares of the insurance provider’s stock worth $628,614,000 after buying an additional 693,608 shares during the last quarter. Finally, Gladstone Capital Management LLP grew its position in shares of Arch Capital Group by 52.8% during the 4th quarter. Gladstone Capital Management LLP now owns 1,385,307 shares of the insurance provider’s stock worth $102,887,000 after buying an additional 478,570 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on ACGL shares. JPMorgan Chase & Co. lifted their price objective on shares of Arch Capital Group from $96.00 to $106.00 and gave the stock a “neutral” rating in a research note on Thursday. StockNews.com upgraded shares of Arch Capital Group from a “hold” rating to a “buy” rating in a research report on Thursday, July 4th. Evercore ISI raised their price objective on Arch Capital Group from $98.00 to $100.00 and gave the stock an “in-line” rating in a research note on Tuesday, April 30th. Wells Fargo & Company boosted their target price on Arch Capital Group from $109.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Finally, Bank of America dropped their price target on Arch Capital Group from $119.00 to $118.00 and set a “buy” rating on the stock in a research report on Thursday. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Arch Capital Group presently has a consensus rating of “Moderate Buy” and an average price target of $102.87.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, CEO David Gansberg sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $96.64, for a total transaction of $966,400.00. Following the transaction, the chief executive officer now owns 228,035 shares of the company’s stock, valued at approximately $22,037,302.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.20% of the company’s stock.

Arch Capital Group Price Performance

NASDAQ ACGL opened at $96.50 on Friday. Arch Capital Group Ltd. has a 12-month low of $72.85 and a 12-month high of $103.79. The firm’s 50 day moving average is $100.00 and its 200-day moving average is $90.94. The company has a market capitalization of $36.23 billion, a PE ratio of 7.62, a price-to-earnings-growth ratio of 1.67 and a beta of 0.58. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.17.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Monday, April 29th. The insurance provider reported $2.45 EPS for the quarter, topping the consensus estimate of $2.06 by $0.39. The firm had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Arch Capital Group had a net margin of 33.65% and a return on equity of 21.85%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.73 EPS. Equities research analysts anticipate that Arch Capital Group Ltd. will post 8.55 earnings per share for the current fiscal year.

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.