Avidian Wealth Enterprises LLC Raises Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

Avidian Wealth Enterprises LLC increased its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 6.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,951 shares of the insurance provider’s stock after acquiring an additional 183 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Arch Capital Group were worth $330,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ACGL. UMB Bank n.a. purchased a new stake in shares of Arch Capital Group in the 2nd quarter worth approximately $30,000. Baldwin Brothers LLC MA increased its holdings in shares of Arch Capital Group by 50.7% during the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 104 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of Arch Capital Group in the 2nd quarter worth about $35,000. LRI Investments LLC bought a new position in Arch Capital Group in the 1st quarter worth about $38,000. Finally, Versant Capital Management Inc grew its position in Arch Capital Group by 40.3% during the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Trading Down 1.9 %

Shares of Arch Capital Group stock opened at $99.80 on Friday. Arch Capital Group Ltd. has a 1-year low of $72.85 and a 1-year high of $116.47. The company’s fifty day simple moving average is $109.41 and its 200-day simple moving average is $102.89. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.58 and a quick ratio of 0.60. The stock has a market capitalization of $37.53 billion, a PE ratio of 6.70, a P/E/G ratio of 1.36 and a beta of 0.61.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.05. The company had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.05 billion. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. During the same period in the previous year, the business earned $2.31 earnings per share. As a group, equities analysts anticipate that Arch Capital Group Ltd. will post 9.09 earnings per share for the current year.

Arch Capital Group Announces Dividend

The company also recently announced a special dividend, which will be paid on Wednesday, December 4th. Investors of record on Monday, November 18th will be issued a $5.00 dividend.

Insiders Place Their Bets

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 221,779 shares in the company, valued at $22,723,476.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ACGL. Citigroup lifted their target price on shares of Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. StockNews.com cut Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Jefferies Financial Group increased their target price on Arch Capital Group from $114.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Roth Mkm boosted their price target on Arch Capital Group from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, JPMorgan Chase & Co. upped their price target on Arch Capital Group from $108.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $118.88.

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.