Everhart Financial Group Inc. Decreases Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

Everhart Financial Group Inc. reduced its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 13.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,505 shares of the insurance provider’s stock after selling 848 shares during the period. Everhart Financial Group Inc.’s holdings in Arch Capital Group were worth $508,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ACGL. Creative Planning lifted its stake in shares of Arch Capital Group by 4.7% in the third quarter. Creative Planning now owns 37,950 shares of the insurance provider’s stock worth $4,246,000 after buying an additional 1,720 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Arch Capital Group by 61.6% in the third quarter. Vontobel Holding Ltd. now owns 6,976 shares of the insurance provider’s stock worth $780,000 after buying an additional 2,660 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of Arch Capital Group by 9.9% in the third quarter. Global Retirement Partners LLC now owns 6,931 shares of the insurance provider’s stock worth $775,000 after buying an additional 626 shares in the last quarter. Bleakley Financial Group LLC raised its stake in Arch Capital Group by 4.1% during the third quarter. Bleakley Financial Group LLC now owns 12,580 shares of the insurance provider’s stock worth $1,407,000 after purchasing an additional 499 shares during the period. Finally, Raymond James & Associates raised its stake in Arch Capital Group by 2.2% during the third quarter. Raymond James & Associates now owns 206,635 shares of the insurance provider’s stock worth $23,118,000 after purchasing an additional 4,407 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Trading Down 2.2 %

Shares of ACGL stock opened at $88.20 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a market capitalization of $33.18 billion, a P/E ratio of 5.92, a price-to-earnings-growth ratio of 1.53 and a beta of 0.64. The company has a 50 day moving average price of $92.53 and a 200 day moving average price of $100.98. Arch Capital Group Ltd. has a fifty-two week low of $83.97 and a fifty-two week high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Monday, February 10th. The insurance provider reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.36. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. During the same period in the previous year, the company earned $2.45 earnings per share. Equities research analysts predict that Arch Capital Group Ltd. will post 8.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on ACGL. JPMorgan Chase & Co. reduced their target price on shares of Arch Capital Group from $110.00 to $106.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Royal Bank of Canada reduced their target price on shares of Arch Capital Group from $125.00 to $110.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 12th. Barclays reduced their target price on shares of Arch Capital Group from $120.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company reduced their target price on shares of Arch Capital Group from $107.00 to $106.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 12th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Arch Capital Group from $120.00 to $113.00 and set an “outperform” rating on the stock in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $116.53.

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.