NewEdge Wealth LLC Invests $220,000 in Arch Capital Group Ltd. (NASDAQ:ACGL)

NewEdge Wealth LLC bought a new position in Arch Capital Group Ltd. (NASDAQ:ACGL) in the 4th quarter, Holdings Channel.com reports. The fund bought 2,958 shares of the insurance provider’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ACGL. Balentine LLC boosted its holdings in shares of Arch Capital Group by 2.6% in the 2nd quarter. Balentine LLC now owns 5,298 shares of the insurance provider’s stock valued at $397,000 after buying an additional 133 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in shares of Arch Capital Group by 2.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 5,448 shares of the insurance provider’s stock valued at $405,000 after buying an additional 144 shares during the period. Signaturefd LLC boosted its holdings in shares of Arch Capital Group by 6.8% in the 3rd quarter. Signaturefd LLC now owns 2,292 shares of the insurance provider’s stock valued at $183,000 after buying an additional 146 shares during the period. SRS Capital Advisors Inc. boosted its holdings in shares of Arch Capital Group by 15.2% in the 3rd quarter. SRS Capital Advisors Inc. now owns 1,107 shares of the insurance provider’s stock valued at $88,000 after buying an additional 146 shares during the period. Finally, Legacy Wealth Asset Management LLC boosted its holdings in shares of Arch Capital Group by 2.2% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 6,985 shares of the insurance provider’s stock valued at $519,000 after buying an additional 149 shares during the period. Institutional investors own 89.07% of the company’s stock.

Arch Capital Group Trading Up 0.8 %

Shares of NASDAQ:ACGL opened at $91.39 on Friday. The company has a 50 day moving average of $89.36 and a 200-day moving average of $83.89. The firm has a market cap of $34.28 billion, a P/E ratio of 7.86, a P/E/G ratio of 1.13 and a beta of 0.57. Arch Capital Group Ltd. has a twelve month low of $69.05 and a twelve month high of $95.01. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.17.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Thursday, February 15th. The insurance provider reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.55. The company had revenue of $3.98 billion during the quarter, compared to analyst estimates of $3.67 billion. Arch Capital Group had a net margin of 32.59% and a return on equity of 21.94%. During the same period in the prior year, the business posted $2.14 EPS. As a group, analysts anticipate that Arch Capital Group Ltd. will post 8.03 earnings per share for the current fiscal year.

Insider Transactions at Arch Capital Group

In other news, CFO Francois Morin sold 25,689 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $87.47, for a total value of $2,247,016.83. Following the completion of the sale, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at approximately $19,399,009.13. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Francois Morin sold 25,689 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $87.47, for a total value of $2,247,016.83. Following the sale, the chief financial officer now directly owns 221,779 shares in the company, valued at approximately $19,399,009.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicolas Papadopoulo sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $87.52, for a total transaction of $5,251,200.00. Following the completion of the sale, the insider now owns 651,931 shares in the company, valued at $57,057,001.12. The disclosure for this sale can be found here. In the last three months, insiders sold 135,689 shares of company stock valued at $11,872,217. Company insiders own 4.20% of the company’s stock.

Analysts Set New Price Targets

ACGL has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on shares of Arch Capital Group from $88.00 to $92.00 and gave the company a “neutral” rating in a report on Monday, April 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $100.00 price target on shares of Arch Capital Group in a report on Monday. TD Cowen initiated coverage on shares of Arch Capital Group in a report on Wednesday, January 10th. They issued an “outperform” rating and a $96.00 price target for the company. UBS Group reduced their target price on shares of Arch Capital Group from $101.00 to $97.00 and set a “buy” rating for the company in a research note on Wednesday, January 10th. Finally, Wells Fargo & Company boosted their target price on shares of Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.23.

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.