Assetmark Inc. Reduces Position in Arch Capital Group Ltd. $ACGL

Assetmark Inc. trimmed its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 9.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 990,472 shares of the insurance provider’s stock after selling 98,342 shares during the period. Assetmark Inc.’s holdings in Arch Capital Group were worth $89,866,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its holdings in Arch Capital Group by 426.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 384 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 311 shares during the last quarter. Quent Capital LLC purchased a new stake in shares of Arch Capital Group during the third quarter worth about $37,000. Richardson Financial Services Inc. grew its stake in shares of Arch Capital Group by 63.3% in the third quarter. Richardson Financial Services Inc. now owns 418 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 162 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Arch Capital Group by 3,450.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 414 shares during the period. Finally, TD Waterhouse Canada Inc. increased its holdings in Arch Capital Group by 31.4% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 469 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 112 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Barclays set a $104.00 price objective on Arch Capital Group and gave the stock an “equal weight” rating in a research report on Thursday, January 8th. Roth Mkm set a $110.00 price target on Arch Capital Group and gave the stock a “buy” rating in a research note on Tuesday, December 2nd. Royal Bank Of Canada boosted their price objective on shares of Arch Capital Group from $108.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday. Keefe, Bruyette & Woods restated a “market perform” rating on shares of Arch Capital Group in a report on Thursday. Finally, Mizuho lifted their target price on shares of Arch Capital Group from $95.00 to $102.00 and gave the company a “neutral” rating in a research note on Thursday. Nine research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Arch Capital Group has a consensus rating of “Hold” and a consensus target price of $108.67.

Arch Capital Group Stock Performance

Arch Capital Group stock opened at $99.85 on Friday. Arch Capital Group Ltd. has a twelve month low of $82.44 and a twelve month high of $103.39. The company has a quick ratio of 0.55, a current ratio of 0.53 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $36.21 billion, a P/E ratio of 8.59, a PEG ratio of 3.95 and a beta of 0.42. The stock’s 50 day moving average is $95.00 and its 200 day moving average is $91.80.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Monday, February 9th. The insurance provider reported $2.98 EPS for the quarter, topping the consensus estimate of $2.34 by $0.64. Arch Capital Group had a return on equity of 16.73% and a net margin of 22.07%.The business had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the previous year, the company posted $2.26 earnings per share. On average, equities research analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Insider Activity

In other Arch Capital Group news, insider John M. Pasquesi sold 203,866 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $93.90, for a total transaction of $19,143,017.40. Following the completion of the sale, the insider directly owned 351,356 shares in the company, valued at approximately $32,992,328.40. This trade represents a 36.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Francois Morin sold 8,000 shares of Arch Capital Group stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $94.62, for a total transaction of $756,960.00. Following the completion of the transaction, the chief financial officer directly owned 266,681 shares of the company’s stock, valued at $25,233,356.22. This trade represents a 2.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 220,666 shares of company stock valued at $20,728,673. 4.20% of the stock is owned by insiders.

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.