Assetmark Inc. Sells 98,342 Shares of Arch Capital Group Ltd. $ACGL

Assetmark Inc. lessened its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 9.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 990,472 shares of the insurance provider’s stock after selling 98,342 shares during the quarter. Assetmark Inc. owned approximately 0.27% of Arch Capital Group worth $89,866,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ACGL. TD Waterhouse Canada Inc. raised its stake in shares of Arch Capital Group by 31.4% in the second quarter. TD Waterhouse Canada Inc. now owns 469 shares of the insurance provider’s stock valued at $43,000 after buying an additional 112 shares during the period. Crescent Grove Advisors LLC raised its stake in Arch Capital Group by 3.1% in the 2nd quarter. Crescent Grove Advisors LLC now owns 3,702 shares of the insurance provider’s stock valued at $337,000 after acquiring an additional 112 shares during the period. TIAA Trust National Association lifted its holdings in Arch Capital Group by 3.1% during the second quarter. TIAA Trust National Association now owns 3,892 shares of the insurance provider’s stock valued at $354,000 after purchasing an additional 116 shares during the last quarter. J.W. Cole Advisors Inc. boosted its position in Arch Capital Group by 4.4% during the second quarter. J.W. Cole Advisors Inc. now owns 3,025 shares of the insurance provider’s stock worth $275,000 after purchasing an additional 127 shares during the period. Finally, Cary Street Partners Investment Advisory LLC boosted its position in Arch Capital Group by 5.1% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 2,828 shares of the insurance provider’s stock worth $257,000 after purchasing an additional 136 shares during the period. 89.07% of the stock is owned by institutional investors.

Arch Capital Group Price Performance

Shares of Arch Capital Group stock opened at $99.85 on Friday. The firm has a market capitalization of $36.21 billion, a PE ratio of 8.59, a price-to-earnings-growth ratio of 3.95 and a beta of 0.42. The company has a current ratio of 0.53, a quick ratio of 0.55 and a debt-to-equity ratio of 0.13. Arch Capital Group Ltd. has a 12 month low of $82.44 and a 12 month high of $103.39. The business’s 50-day moving average price is $95.00 and its 200-day moving average price is $91.80.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Monday, February 9th. The insurance provider reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.64. The business had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.94 billion. Arch Capital Group had a return on equity of 16.73% and a net margin of 22.07%.During the same quarter in the prior year, the firm earned $2.26 earnings per share. Sell-side analysts forecast that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider John M. Pasquesi sold 8,800 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $94.17, for a total transaction of $828,696.00. Following the transaction, the insider owned 289,556 shares of the company’s stock, valued at approximately $27,267,488.52. This trade represents a 2.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Francois Morin sold 8,000 shares of Arch Capital Group stock in a transaction on Friday, November 28th. The stock was sold at an average price of $94.62, for a total transaction of $756,960.00. Following the completion of the transaction, the chief financial officer owned 266,681 shares in the company, valued at approximately $25,233,356.22. The trade was a 2.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 220,666 shares of company stock valued at $20,728,673 in the last ninety days. 4.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ACGL shares. Citigroup reissued a “market outperform” rating on shares of Arch Capital Group in a research report on Friday, January 16th. The Goldman Sachs Group reissued a “sell” rating and set a $93.00 target price (up previously from $84.00) on shares of Arch Capital Group in a report on Wednesday, January 7th. JPMorgan Chase & Co. increased their target price on Arch Capital Group from $111.00 to $117.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $97.00 price target (up from $93.00) on shares of Arch Capital Group in a research report on Wednesday, January 14th. Finally, Evercore set a $100.00 price objective on Arch Capital Group and gave the stock an “in-line” rating in a report on Wednesday, January 7th. Nine analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $108.67.

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.