Envestnet Portfolio Solutions Inc. Sells 13,860 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Envestnet Portfolio Solutions Inc. cut its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 43.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,904 shares of the insurance provider’s stock after selling 13,860 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Arch Capital Group were worth $1,653,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in shares of Arch Capital Group by 4.8% in the third quarter. Principal Financial Group Inc. now owns 7,438,738 shares of the insurance provider’s stock worth $832,246,000 after buying an additional 337,786 shares in the last quarter. Empowered Funds LLC boosted its holdings in Arch Capital Group by 4.6% in the 3rd quarter. Empowered Funds LLC now owns 12,839 shares of the insurance provider’s stock valued at $1,436,000 after purchasing an additional 564 shares during the period. MAI Capital Management boosted its holdings in Arch Capital Group by 19.9% in the 3rd quarter. MAI Capital Management now owns 4,865 shares of the insurance provider’s stock valued at $544,000 after purchasing an additional 808 shares during the period. Fifth Third Wealth Advisors LLC grew its position in shares of Arch Capital Group by 8.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 2,955 shares of the insurance provider’s stock valued at $331,000 after purchasing an additional 237 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Arch Capital Group by 10.0% in the third quarter. PNC Financial Services Group Inc. now owns 71,721 shares of the insurance provider’s stock worth $8,024,000 after purchasing an additional 6,521 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Arch Capital Group news, insider Louis T. Petrillo sold 11,600 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $91.00, for a total value of $1,055,600.00. Following the completion of the sale, the insider now owns 140,023 shares in the company, valued at approximately $12,742,093. This trade represents a 7.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

ACGL has been the subject of several recent analyst reports. JMP Securities restated a “market outperform” rating and set a $125.00 target price on shares of Arch Capital Group in a research report on Tuesday, February 11th. JPMorgan Chase & Co. decreased their price objective on shares of Arch Capital Group from $110.00 to $106.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Wells Fargo & Company dropped their target price on shares of Arch Capital Group from $107.00 to $106.00 and set an “overweight” rating for the company in a research report on Wednesday, February 12th. Morgan Stanley decreased their price target on shares of Arch Capital Group from $115.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Arch Capital Group from $120.00 to $113.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $117.19.

Arch Capital Group Trading Down 0.5 %

Shares of ACGL stock opened at $91.98 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.54 and a quick ratio of 0.58. The business has a 50-day moving average of $91.99 and a 200 day moving average of $98.85. The stock has a market capitalization of $34.53 billion, a PE ratio of 8.21, a P/E/G ratio of 2.31 and a beta of 0.62. Arch Capital Group Ltd. has a 1-year low of $87.42 and a 1-year high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Monday, February 10th. The insurance provider reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.36. Arch Capital Group had a return on equity of 17.96% and a net margin of 24.73%. During the same quarter last year, the firm earned $2.45 earnings per share. As a group, sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

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.