D.A. Davidson & CO. Sells 338 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

D.A. Davidson & CO. lessened its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.8% in the fourth quarter, HoldingsChannel reports. The fund owned 41,092 shares of the insurance provider’s stock after selling 338 shares during the period. D.A. Davidson & CO.’s holdings in Arch Capital Group were worth $3,795,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Truist Financial Corp raised its stake in Arch Capital Group by 0.6% in the fourth quarter. Truist Financial Corp now owns 780,707 shares of the insurance provider’s stock valued at $72,098,000 after purchasing an additional 4,888 shares in the last quarter. CIBC Asset Management Inc raised its stake in Arch Capital Group by 4.6% in the fourth quarter. CIBC Asset Management Inc now owns 57,106 shares of the insurance provider’s stock valued at $5,274,000 after purchasing an additional 2,490 shares in the last quarter. Pittenger & Anderson Inc. raised its stake in Arch Capital Group by 56.6% in the fourth quarter. Pittenger & Anderson Inc. now owns 6,720 shares of the insurance provider’s stock valued at $621,000 after purchasing an additional 2,430 shares in the last quarter. Principal Financial Group Inc. raised its stake in Arch Capital Group by 10.5% in the fourth quarter. Principal Financial Group Inc. now owns 8,222,244 shares of the insurance provider’s stock valued at $759,324,000 after purchasing an additional 783,506 shares in the last quarter. Finally, Allworth Financial LP raised its stake in Arch Capital Group by 4.6% in the fourth quarter. Allworth Financial LP now owns 14,363 shares of the insurance provider’s stock valued at $1,339,000 after purchasing an additional 627 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

ACGL has been the subject of a number of analyst reports. Bank of America dropped their price target on Arch Capital Group from $143.00 to $136.00 and set a “buy” rating for the company in a research note on Friday, November 15th. JPMorgan Chase & Co. dropped their price target on Arch Capital Group from $110.00 to $106.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. UBS Group dropped their price target on Arch Capital Group from $131.00 to $127.00 and set a “buy” rating for the company in a research note on Tuesday. BMO Capital Markets boosted their target price on Arch Capital Group from $98.00 to $104.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 6th. Finally, StockNews.com downgraded Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $117.19.

Arch Capital Group Stock Performance

Arch Capital Group stock opened at $89.09 on Friday. The business has a 50 day moving average of $92.07 and a 200-day moving average of $100.68. Arch Capital Group Ltd. has a 1 year low of $83.97 and a 1 year high of $116.47. 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 company has a market capitalization of $33.52 billion, a P/E ratio of 7.95, a P/E/G ratio of 2.28 and a beta of 0.64.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Monday, February 10th. The insurance provider reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the company earned $2.45 earnings per share. On average, equities research analysts predict that Arch Capital Group Ltd. will post 8.54 earnings per share for the current year.

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.