Arch Capital Group Ltd. (NASDAQ:ACGL) Shares Bought by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lifted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 4.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,884 shares of the insurance provider’s stock after acquiring an additional 115 shares during the period. Marks Group Wealth Management Inc’s holdings in Arch Capital Group were worth $323,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ACGL. UMB Bank n.a. purchased a new position in Arch Capital Group during the second quarter worth approximately $30,000. Baldwin Brothers LLC MA boosted its holdings in Arch Capital Group by 50.7% in 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 during the last quarter. Rothschild Investment LLC purchased a new stake in Arch Capital Group during the second quarter valued at about $35,000. LRI Investments LLC acquired a new stake in Arch Capital Group during the first quarter worth about $38,000. Finally, Versant Capital Management Inc raised its holdings in shares of Arch Capital Group by 40.3% in the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 131 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Arch Capital Group Trading Up 5.4 %

ACGL opened at $101.70 on Thursday. Arch Capital Group Ltd. has a 12-month low of $72.85 and a 12-month high of $116.47. 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 $38.25 billion, a PE ratio of 6.83, a P/E/G ratio of 1.36 and a beta of 0.61. The firm’s fifty day moving average price is $109.86 and its 200 day moving average price is $102.92.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.05. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.05 billion. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. During the same quarter in the prior year, the business posted $2.31 EPS. As a group, research analysts expect that Arch Capital Group Ltd. will post 9.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Francois Morin sold 11,460 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was 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 directly owns 221,779 shares in the company, valued at approximately $22,723,476.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ACGL. BMO Capital Markets increased their target price on shares of Arch Capital Group from $98.00 to $104.00 and gave the stock a “market perform” rating in a research report on Wednesday. Royal Bank of Canada dropped their price objective on shares of Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. TD Cowen lifted their target price on shares of Arch Capital Group from $116.00 to $138.00 and gave the company a “buy” rating in a report on Friday, September 20th. JMP Securities raised their price objective on Arch Capital Group from $115.00 to $125.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company reduced their price objective on Arch Capital Group from $126.00 to $118.00 and set an “overweight” rating on the stock in a research note on Monday. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $118.88.

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.