Hemington Wealth Management Purchases 119 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Hemington Wealth Management grew its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 27.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 548 shares of the insurance provider’s stock after buying an additional 119 shares during the period. Hemington Wealth Management’s holdings in Arch Capital Group were worth $52,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC boosted its holdings in Arch Capital Group by 6.8% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 2,692 shares of the insurance provider’s stock valued at $259,000 after acquiring an additional 172 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Arch Capital Group by 0.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 69,424 shares of the insurance provider’s stock valued at $6,677,000 after purchasing an additional 576 shares during the period. TIAA Trust National Association boosted its stake in shares of Arch Capital Group by 16.6% in the 1st quarter. TIAA Trust National Association now owns 3,776 shares of the insurance provider’s stock valued at $363,000 after purchasing an additional 538 shares during the last quarter. Jefferies Financial Group Inc. grew its position in shares of Arch Capital Group by 723.6% during the 1st quarter. Jefferies Financial Group Inc. now owns 67,232 shares of the insurance provider’s stock worth $6,466,000 after buying an additional 59,069 shares during the period. Finally, Nicolet Advisory Services LLC raised its stake in shares of Arch Capital Group by 13.5% during the first quarter. Nicolet Advisory Services LLC now owns 2,946 shares of the insurance provider’s stock worth $267,000 after buying an additional 350 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling at Arch Capital Group

In other news, insider Louis T. Petrillo sold 16,650 shares of the business’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $94.53, for a total value of $1,573,924.50. Following the sale, the insider owned 140,023 shares of the company’s stock, valued at $13,236,374.19. The trade was a 10.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John M. Pasquesi sold 75,060 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $94.01, for a total transaction of $7,056,390.60. Following the transaction, the insider owned 579,218 shares of the company’s stock, valued at $54,452,284.18. The trade was a 11.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,340 shares of company stock worth $9,824,861. Corporate insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ACGL shares. Keefe, Bruyette & Woods raised their price objective on shares of Arch Capital Group from $101.00 to $102.00 and gave the company a “market perform” rating in a research note on Tuesday. Barclays reduced their price target on Arch Capital Group from $100.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company cut their target price on Arch Capital Group from $110.00 to $107.00 and set an “overweight” rating on the stock in a research note on Thursday, July 31st. Jefferies Financial Group cut Arch Capital Group from a “buy” rating to a “hold” rating and reduced their target price for the stock from $106.00 to $100.00 in a report on Tuesday, June 10th. Finally, Morgan Stanley set a $110.00 price target on Arch Capital Group and gave the company an “overweight” rating in a research note on Monday, May 19th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Arch Capital Group currently has a consensus rating of “Moderate Buy” and an average target price of $113.07.

Arch Capital Group Trading Up 1.2%

Shares of NASDAQ:ACGL opened at $89.76 on Thursday. The firm has a market cap of $33.64 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 6.61 and a beta of 0.49. Arch Capital Group Ltd. has a 12 month low of $82.49 and a 12 month high of $116.47. The company’s fifty day simple moving average is $90.07 and its 200 day simple moving average is $91.49. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.28. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.29 billion. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%. During the same quarter last year, the business posted $2.57 EPS. As a group, research analysts forecast that Arch Capital Group Ltd. will post 8.42 EPS 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.