Assetmark Inc. Boosts Stock Position in Arch Capital Group Ltd. $ACGL

Assetmark Inc. boosted its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 5.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,036,532 shares of the insurance provider’s stock after buying an additional 49,262 shares during the quarter. Assetmark Inc.’s holdings in Arch Capital Group were worth $99,497,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its stake in Arch Capital Group by 157.9% in the first quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider’s stock valued at $65,000 after purchasing an additional 412 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Arch Capital Group in the second quarter valued at $253,000. CW Advisors LLC lifted its position in Arch Capital Group by 6.5% in the second quarter. CW Advisors LLC now owns 3,098 shares of the insurance provider’s stock valued at $282,000 after acquiring an additional 189 shares during the last quarter. Jump Financial LLC acquired a new position in Arch Capital Group in the second quarter valued at $667,000. Finally, Cerity Partners LLC boosted its stake in Arch Capital Group by 11.6% in the second quarter. Cerity Partners LLC now owns 47,486 shares of the insurance provider’s stock valued at $4,324,000 after acquiring an additional 4,933 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Daniel Joseph Houston acquired 5,300 shares of Arch Capital Group stock in a transaction on Thursday, April 30th. The stock was purchased at an average cost of $94.08 per share, with a total value of $498,624.00. Following the purchase, the director directly owned 9,915 shares in the company, valued at approximately $932,803.20. The trade was a 114.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian S. Posner sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total value of $58,980.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.30% of the company’s stock.

Arch Capital Group Trading Up 1.5%

NASDAQ ACGL opened at $100.04 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market cap of $34.95 billion, a PE ratio of 7.68, a P/E/G ratio of 4.90 and a beta of 0.31. Arch Capital Group Ltd. has a one year low of $82.44 and a one year high of $105.09. The firm’s fifty day moving average is $94.94 and its two-hundred day moving average is $95.59.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share for the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. The business had revenue of $4.52 billion during the quarter. Analysts expect that Arch Capital Group Ltd. will post 9.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ACGL. Citigroup raised their price objective on Arch Capital Group from $120.00 to $122.50 and gave the stock a “buy” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. reduced their target price on Arch Capital Group from $117.00 to $110.00 and set a “neutral” rating for the company in a report on Monday, April 20th. Morgan Stanley upped their target price on Arch Capital Group from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Keefe, Bruyette & Woods dropped their price target on Arch Capital Group from $102.00 to $99.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 8th. Finally, Wells Fargo & Company lifted their price target on Arch Capital Group from $110.00 to $114.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Arch Capital Group currently has an average rating of “Hold” and a consensus price target of $109.39.

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.