Arch Capital Group Ltd. $ACGL Shares Sold by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management cut its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 10.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,350 shares of the insurance provider’s stock after selling 6,110 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Arch Capital Group were worth $5,117,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. WealthCollab LLC lifted its position in shares of Arch Capital Group by 410.3% in the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 238 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Arch Capital Group during the third quarter worth approximately $28,000. Grove Bank & Trust acquired a new position in Arch Capital Group in the 4th quarter valued at $30,000. Aventura Private Wealth LLC purchased a new position in Arch Capital Group in the 4th quarter valued at $30,000. Finally, 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 valued at $33,000 after purchasing an additional 311 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider David Gansberg sold 5,907 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $96.37, for a total value of $569,257.59. Following the transaction, the insider directly owned 336,559 shares in the company, valued at approximately $32,434,190.83. This represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Maamoun Rajeh sold 47,430 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $96.12, for a total value of $4,558,971.60. Following the completion of the transaction, the insider owned 433,589 shares of the company’s stock, valued at $41,676,574.68. The trade was a 9.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 78,267 shares of company stock worth $7,291,637. Corporate insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

ACGL has been the subject of a number of research reports. Royal Bank Of Canada upped their target price on shares of Arch Capital Group from $108.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, February 11th. Mizuho boosted their price target on shares of Arch Capital Group from $95.00 to $102.00 and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 price objective (up from $97.00) on shares of Arch Capital Group in a research note on Tuesday, February 17th. Evercore set a $100.00 price objective on shares of Arch Capital Group and gave the company an “in-line” rating in a report on Wednesday, January 7th. Finally, Citigroup reissued a “buy” rating and issued a $120.00 target price (up from $113.00) on shares of Arch Capital Group in a research note on Friday, February 13th. Nine analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $109.20.

Arch Capital Group Stock Up 1.3%

NASDAQ ACGL opened at $96.74 on Friday. The business’s fifty day simple moving average is $96.57 and its 200-day simple moving average is $93.27. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.13. The firm has a market cap of $34.47 billion, a PE ratio of 8.33, a P/E/G ratio of 3.88 and a beta of 0.41. Arch Capital Group Ltd. has a 52 week low of $82.44 and a 52 week 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.64. Arch Capital Group had a net margin of 22.07% and a return on equity of 16.73%. The firm had revenue of $4.93 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the prior year, the firm posted $2.26 earnings per share. As a group, equities analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

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.