Wealthfront Advisers LLC Sells 10,240 Shares of Arch Capital Group Ltd. $ACGL

Wealthfront Advisers LLC trimmed its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 15.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,197 shares of the insurance provider’s stock after selling 10,240 shares during the quarter. Wealthfront Advisers LLC’s holdings in Arch Capital Group were worth $5,298,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of ACGL. Legal & General Group Plc raised its holdings in shares of Arch Capital Group by 4.3% during the fourth quarter. Legal & General Group Plc now owns 2,944,169 shares of the insurance provider’s stock valued at $282,405,000 after acquiring an additional 121,090 shares in the last quarter. National Pension Service increased its stake in shares of Arch Capital Group by 8.5% in the 4th quarter. National Pension Service now owns 683,272 shares of the insurance provider’s stock worth $65,539,000 after acquiring an additional 53,661 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Arch Capital Group by 10.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 187,002 shares of the insurance provider’s stock valued at $18,024,000 after purchasing an additional 17,923 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in Arch Capital Group by 50.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,548,042 shares of the insurance provider’s stock valued at $148,488,000 after buying an additional 518,527 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Arch Capital Group by 3.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,033,834 shares of the insurance provider’s stock valued at $99,165,000 after acquiring an additional 33,869 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity

In other news, Director Daniel Joseph Houston bought 5,300 shares of the stock in a transaction dated Thursday, April 30th. The stock was purchased at an average price of $94.08 per share, for a total transaction of $498,624.00. Following the acquisition, the director owned 9,915 shares of the company’s stock, valued at $932,803.20. The trade was a 114.84% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brian S. Posner sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total transaction of $58,980.00. The disclosure for this sale is available in the SEC filing. 3.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Arch Capital Group from $110.00 to $114.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Weiss Ratings lowered shares of Arch Capital Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Morgan Stanley upped their price objective on Arch Capital Group from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Citigroup raised their target price on shares of Arch Capital Group from $120.00 to $122.50 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $102.00 price target (up from $100.00) on shares of Arch Capital Group in a report on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Arch Capital Group presently has a consensus rating of “Hold” and an average target price of $109.39.

Arch Capital Group Price Performance

Arch Capital Group stock opened at $101.35 on Friday. The firm’s fifty day moving average is $95.09 and its 200 day moving average is $95.63. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.15. The company has a market cap of $35.41 billion, a price-to-earnings ratio of 7.78, a PEG ratio of 5.04 and a beta of 0.31. Arch Capital Group Ltd. has a 52-week low of $82.44 and a 52-week high of $105.09.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $2.50 EPS for the quarter. The firm had revenue of $4.52 billion during the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. Sell-side analysts forecast that Arch Capital Group Ltd. will post 9.35 EPS for the current fiscal year.

About Arch Capital Group

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.