Wealthspire Advisors LLC Cuts Stock Holdings in Arch Capital Group Ltd. $ACGL

Wealthspire Advisors LLC lessened its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 20.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,382 shares of the insurance provider’s stock after selling 2,217 shares during the quarter. Wealthspire Advisors LLC’s holdings in Arch Capital Group were worth $763,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. lifted its holdings in Arch Capital Group by 116.3% in the 1st quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 150 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Arch Capital Group in the first quarter valued at about $37,000. 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 in the last quarter. Hemington Wealth Management boosted its position in Arch Capital Group by 27.7% during the first quarter. Hemington Wealth Management now owns 548 shares of the insurance provider’s stock worth $52,000 after acquiring an additional 119 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in Arch Capital Group by 157.9% during the first quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider’s stock worth $65,000 after acquiring an additional 412 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Stock Up 0.6%

Shares of NASDAQ:ACGL opened at $92.46 on Friday. The company has a market capitalization of $33.53 billion, a price-to-earnings ratio of 8.65, a PEG ratio of 3.24 and a beta of 0.47. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $101.66. The business has a 50-day moving average price of $89.42 and a 200 day moving average price of $90.45. The company has a current ratio of 0.55, a quick ratio of 0.56 and a debt-to-equity ratio of 0.13.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Monday, October 27th. The insurance provider reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $1.01. Arch Capital Group had a net margin of 20.96% and a return on equity of 16.38%. The company had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the prior year, the company posted $1.99 earnings per share. Sell-side analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on ACGL. Weiss Ratings reissued a “hold (c+)” rating on shares of Arch Capital Group in a research note on Wednesday, October 8th. Barclays set a $99.00 price target on Arch Capital Group and gave the company an “equal weight” rating in a report on Wednesday, October 8th. UBS Group reissued a “buy” rating and set a $118.00 price objective (down previously from $124.00) on shares of Arch Capital Group in a research note on Monday, August 4th. JPMorgan Chase & Co. upped their target price on Arch Capital Group from $110.00 to $111.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. Finally, Morgan Stanley lifted their price target on Arch Capital Group from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $106.75.

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.