Elevation Point Wealth Partners LLC Acquires New Position in Arch Capital Group Ltd. $ACGL

Elevation Point Wealth Partners LLC acquired a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL) during the 1st quarter, HoldingsChannel reports. The firm acquired 17,386 shares of the insurance provider’s stock, valued at approximately $1,669,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ACGL. Legal & General Group Plc increased its stake in shares of Arch Capital Group by 4.3% in the fourth quarter. Legal & General Group Plc now owns 2,944,169 shares of the insurance provider’s stock worth $282,405,000 after acquiring an additional 121,090 shares during the last quarter. National Pension Service raised its holdings in shares of Arch Capital Group by 8.5% during the fourth 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. Natixis Advisors LLC boosted its position in Arch Capital Group by 9.5% during the third quarter. Natixis Advisors LLC now owns 1,951,019 shares of the insurance provider’s stock valued at $177,016,000 after purchasing an additional 168,922 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in 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 during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in Arch Capital Group by 50.4% during the fourth 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 purchasing an additional 518,527 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Stock Performance

Shares of NASDAQ ACGL opened at $102.20 on Monday. The business’s 50-day simple moving average is $93.86 and its 200-day simple moving average is $95.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.55 and a current ratio of 0.55. Arch Capital Group Ltd. has a 52 week low of $82.44 and a 52 week high of $103.39. The firm has a market cap of $35.71 billion, a price-to-earnings ratio of 7.85, a P/E/G ratio of 5.11 and a beta of 0.31.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share for the quarter. The firm had revenue of $4.52 billion during the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%. As a group, equities research analysts expect that Arch Capital Group Ltd. will post 9.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Daniel Joseph Houston acquired 5,300 shares of Arch Capital Group stock in a transaction dated Thursday, April 30th. The stock was acquired at an average cost of $94.08 per share, for a total transaction of $498,624.00. Following the completion of the purchase, the director owned 9,915 shares of the company’s stock, valued at $932,803.20. This represents a 114.84% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Brian S. Posner sold 3,000 shares of the business’s stock in a transaction on 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. Company insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ACGL. JPMorgan Chase & Co. dropped their target price on Arch Capital Group from $117.00 to $110.00 and set a “neutral” rating on the stock in a research report on Monday, April 20th. Mizuho reduced their price target on Arch Capital Group from $102.00 to $101.00 and set a “neutral” rating for the company in a report on Tuesday, May 5th. Wells Fargo & Company boosted their price target on Arch Capital Group from $109.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Morgan Stanley set a $105.00 price target on Arch Capital Group in a research note on Friday, May 1st. Finally, Barclays increased their price objective on Arch Capital Group from $104.00 to $106.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 8th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $106.81.

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.