Arch Capital Group Ltd. $ACGL Shares Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC lifted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 5.4% during the second quarter, Holdings Channel reports. The firm owned 52,791 shares of the insurance provider’s stock after buying an additional 2,696 shares during the period. Wealthfront Advisers LLC’s holdings in Arch Capital Group were worth $4,807,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Meeder Asset Management Inc. increased its position in Arch Capital Group by 116.3% in the first quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider’s stock worth $27,000 after buying an additional 150 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Arch Capital Group in the 1st quarter worth about $31,000. Zions Bancorporation National Association UT bought a new stake in Arch Capital Group in the 1st quarter valued at about $37,000. Caitong International Asset Management Co. Ltd boosted its stake in Arch Capital Group by 3,450.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 414 shares during the period. Finally, Hemington Wealth Management grew its position in Arch Capital Group by 27.7% in the 1st quarter. Hemington Wealth Management now owns 548 shares of the insurance provider’s stock worth $52,000 after purchasing an additional 119 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Price Performance

NASDAQ:ACGL opened at $84.72 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16. The business’s 50-day moving average price is $90.19 and its 200 day moving average price is $90.72. Arch Capital Group Ltd. has a 52-week low of $82.44 and a 52-week high of $106.63. The firm has a market cap of $31.62 billion, a P/E ratio of 7.93, a PEG ratio of 4.97 and a beta of 0.47.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.77 earnings per share for the quarter, beating the consensus estimate of $1.76 by $1.01. The company had revenue of $3.96 billion during the quarter, compared to analyst estimates of $4.39 billion. Arch Capital Group had a net margin of 20.96% and a return on equity of 16.76%. During the same quarter last year, the firm posted $1.99 EPS. As a group, sell-side analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

ACGL has been the topic of a number of recent analyst reports. Wolfe Research started coverage on Arch Capital Group in a report on Monday, September 15th. They set a “peer perform” rating on the stock. Wells Fargo & Company lifted their target price on Arch Capital Group from $107.00 to $111.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on Arch Capital Group from $110.00 to $111.00 and gave the stock a “neutral” rating in a research report on Tuesday. Cantor Fitzgerald reissued a “neutral” rating and set a $98.00 price target on shares of Arch Capital Group in a report on Tuesday. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Arch Capital Group in a research note on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $109.00.

Insider Activity

In other news, insider Maamoun Rajeh sold 10,000 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total transaction of $941,500.00. Following the sale, the insider directly owned 433,589 shares of the company’s stock, valued at $40,822,404.35. The trade was a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.10% of the stock is owned by insiders.

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.