Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 8,959 Shares of Arch Capital Group Ltd. $ACGL

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lessened its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 13.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 59,460 shares of the insurance provider’s stock after selling 8,959 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Arch Capital Group were worth $5,395,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Cornerstone Planning Group LLC lifted its holdings in Arch Capital Group by 426.0% in the 3rd 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 last quarter. Quent Capital LLC bought a new position in shares of Arch Capital Group in the third quarter valued at approximately $37,000. Richardson Financial Services Inc. lifted its stake in shares of Arch Capital Group by 63.3% in the third quarter. Richardson Financial Services Inc. now owns 418 shares of the insurance provider’s stock worth $38,000 after buying an additional 162 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake 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 worth $39,000 after buying an additional 414 shares during the last quarter. Finally, TD Waterhouse Canada Inc. boosted its holdings in shares of Arch Capital Group by 31.4% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 469 shares of the insurance provider’s stock worth $43,000 after buying an additional 112 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insiders Place Their Bets

In other news, insider John M. Pasquesi sold 8,800 shares of Arch Capital Group stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $94.17, for a total transaction of $828,696.00. Following the sale, the insider directly owned 289,556 shares in the company, valued at approximately $27,267,488.52. The trade was a 2.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Maamoun Rajeh sold 47,430 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $96.12, for a total transaction of $4,558,971.60. Following the completion of the sale, the insider directly owned 433,589 shares in the company, valued at approximately $41,676,574.68. The trade was a 9.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 268,096 shares of company stock worth $25,287,645 over the last 90 days. Corporate insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $100.00 target price (up previously from $97.00) on shares of Arch Capital Group in a report on Tuesday. The Goldman Sachs Group reiterated a “sell” rating and issued a $93.00 price objective (up from $84.00) on shares of Arch Capital Group in a research note on Wednesday, January 7th. Evercore set a $100.00 price objective on Arch Capital Group and gave the stock an “in-line” rating in a research report on Wednesday, January 7th. Royal Bank Of Canada raised their target price on Arch Capital Group from $108.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, February 11th. Finally, Morgan Stanley set a $125.00 price target on Arch Capital Group in a report on Friday, January 16th. Nine investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Arch Capital Group has a consensus rating of “Hold” and an average price target of $109.20.

Arch Capital Group Trading Up 0.2%

Shares of ACGL opened at $98.49 on Friday. The stock’s 50-day moving average price is $95.73 and its 200 day moving average price is $92.31. The company has a quick ratio of 0.55, a current ratio of 0.53 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $35.72 billion, a price-to-earnings ratio of 8.48, a P/E/G ratio of 3.94 and a beta of 0.42. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $103.39.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Monday, February 9th. The insurance provider reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.64. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate 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 last year, the company earned $2.26 EPS. As a group, research analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Arch Capital Group Company 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.