Arch Capital Group Ltd. $ACGL Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 2.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,071,692 shares of the insurance provider’s stock after acquiring an additional 47,383 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Arch Capital Group were worth $187,965,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Cornerstone Planning Group LLC lifted its holdings in shares of Arch Capital Group by 426.0% during the third quarter. Cornerstone Planning Group LLC now owns 384 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 311 shares during the period. Quent Capital LLC acquired a new stake in shares of Arch Capital Group in the 3rd quarter worth $37,000. Richardson Financial Services Inc. lifted its stake in shares of Arch Capital Group by 63.3% in the 3rd quarter. Richardson Financial Services Inc. now owns 418 shares of the insurance provider’s stock worth $38,000 after acquiring an additional 162 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Arch Capital Group by 3,450.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 414 shares in the last quarter. Finally, TD Waterhouse Canada Inc. increased its stake in shares of Arch Capital Group by 31.4% during the second quarter. TD Waterhouse Canada Inc. now owns 469 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 112 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Stock Up 1.8%

Shares of NASDAQ:ACGL opened at $101.98 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $36.98 billion, a P/E ratio of 9.54, a P/E/G ratio of 2.10 and a beta of 0.42. Arch Capital Group Ltd. has a 52-week low of $82.44 and a 52-week high of $102.53. The stock’s fifty day simple moving average is $94.38 and its 200-day simple moving average is $91.44.

Analyst Upgrades and Downgrades

ACGL has been the topic of a number of analyst reports. Barclays set a $104.00 price objective on Arch Capital Group and gave the company an “equal weight” rating in a report on Thursday, January 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Arch Capital Group in a report on Wednesday, January 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $97.00 price objective (up previously from $93.00) on shares of Arch Capital Group in a report on Wednesday, January 14th. Mizuho set a $95.00 target price on Arch Capital Group and gave the company a “neutral” rating in a report on Monday, December 15th. Finally, The Goldman Sachs Group restated a “sell” rating and set a $93.00 target price (up from $84.00) on shares of Arch Capital Group in a research report on Wednesday, January 7th. Eight research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Arch Capital Group currently has a consensus rating of “Hold” and an average price target of $107.53.

Insider Buying and Selling at Arch Capital Group

In related news, insider John M. Pasquesi sold 203,866 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $93.90, for a total value of $19,143,017.40. Following the completion of the sale, the insider directly owned 351,356 shares in the company, valued at approximately $32,992,328.40. The trade was a 36.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Francois Morin sold 8,000 shares of the business’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $94.62, for a total transaction of $756,960.00. Following the sale, the chief financial officer directly owned 266,681 shares of the company’s stock, valued at $25,233,356.22. This represents a 2.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 220,666 shares of company stock valued at $20,728,673 over the last quarter. 4.20% of the stock is currently owned by insiders.

Arch Capital Group Profile

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.