Envestnet Portfolio Solutions Inc. Sells 1,627 Shares of Arch Capital Group Ltd. $ACGL

Envestnet Portfolio Solutions Inc. trimmed its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 18.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,096 shares of the insurance provider’s stock after selling 1,627 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Arch Capital Group were worth $646,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Nuveen LLC bought a new position in shares of Arch Capital Group during the first quarter worth approximately $399,651,000. JPMorgan Chase & Co. increased its stake in Arch Capital Group by 30.5% during the 1st quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider’s stock worth $718,522,000 after acquiring an additional 1,743,945 shares during the period. GQG Partners LLC acquired a new position in Arch Capital Group in the 1st quarter valued at $71,769,000. Champlain Investment Partners LLC acquired a new position in Arch Capital Group in the 1st quarter valued at $48,040,000. Finally, Amundi lifted its position in shares of Arch Capital Group by 32.3% during the 1st quarter. Amundi now owns 1,683,211 shares of the insurance provider’s stock valued at $162,060,000 after acquiring an additional 410,825 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Price Performance

Arch Capital Group stock opened at $86.97 on Tuesday. The stock’s 50 day moving average is $90.61 and its 200 day moving average is $90.79. Arch Capital Group Ltd. has a one year low of $82.49 and a one year high of $109.61. The firm has a market cap of $32.46 billion, a P/E ratio of 8.98, a P/E/G ratio of 5.01 and a beta of 0.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.28. The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.29 billion. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. During the same quarter in the previous year, the business earned $2.57 earnings per share. As a group, research analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Insider Transactions at Arch Capital Group

In other Arch Capital Group news, insider Maamoun Rajeh sold 10,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total transaction of $941,500.00. Following the transaction, the insider directly owned 433,589 shares in the company, valued at approximately $40,822,404.35. This represents a 2.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ACGL shares. Wolfe Research began coverage on Arch Capital Group in a research report on Monday, September 15th. They issued a “peer perform” rating on the stock. Wells Fargo & Company raised their target price on shares of Arch Capital Group from $107.00 to $111.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Citigroup began coverage on shares of Arch Capital Group in a report on Wednesday, August 13th. They set a “buy” rating and a $113.00 price target for the company. The Goldman Sachs Group set a $88.00 price target on shares of Arch Capital Group and gave the stock a “sell” rating in a research report on Tuesday, October 14th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Arch Capital Group from $102.00 to $103.00 and gave the company a “market perform” rating in a research report on Thursday, August 14th. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Arch Capital Group has a consensus rating of “Hold” and a consensus target price of $108.71.

Arch Capital Group Profile

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.