458 Shares in Arch Capital Group Ltd. (NASDAQ:ACGL) Bought by Golden State Wealth Management LLC

Golden State Wealth Management LLC bought a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) during the 4th quarter, HoldingsChannel reports. The firm bought 458 shares of the insurance provider’s stock, valued at approximately $42,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp grew its stake in Arch Capital Group by 1.1% during the 3rd quarter. State Street Corp now owns 16,587,446 shares of the insurance provider’s stock worth $1,855,803,000 after buying an additional 172,628 shares during the last quarter. Geode Capital Management LLC grew its stake in Arch Capital Group by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 10,830,263 shares of the insurance provider’s stock worth $1,208,307,000 after buying an additional 253,648 shares during the last quarter. Principal Financial Group Inc. grew its stake in Arch Capital Group by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 7,438,738 shares of the insurance provider’s stock worth $832,246,000 after buying an additional 337,786 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Arch Capital Group by 1.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,124,251 shares of the insurance provider’s stock worth $573,301,000 after buying an additional 49,426 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Arch Capital Group by 245.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,739 shares of the insurance provider’s stock worth $341,652,000 after buying an additional 2,168,897 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on ACGL shares. Royal Bank of Canada dropped their target price on Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. BMO Capital Markets boosted their price target on Arch Capital Group from $98.00 to $104.00 and gave the company a “market perform” rating in a research note on Wednesday, November 6th. StockNews.com downgraded Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. JMP Securities reiterated a “market outperform” rating and set a $125.00 price target on shares of Arch Capital Group in a research note on Tuesday. Finally, Bank of America dropped their price target on Arch Capital Group from $143.00 to $136.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $118.00.

Arch Capital Group Stock Performance

NASDAQ ACGL opened at $89.60 on Wednesday. The stock has a market capitalization of $33.71 billion, a price-to-earnings ratio of 6.01, a PEG ratio of 1.53 and a beta of 0.64. Arch Capital Group Ltd. has a twelve month low of $82.75 and a twelve month high of $116.47. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average of $93.09 and a 200 day moving average of $101.15.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Monday, February 10th. The insurance provider reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.36. 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 posted $2.45 earnings per share. Sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.86 EPS for the current fiscal year.

Arch Capital Group 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.