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

Assetmark Inc. grew its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 5.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,036,532 shares of the insurance provider’s stock after purchasing an additional 49,262 shares during the period. Assetmark Inc. owned approximately 0.29% of Arch Capital Group worth $99,497,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Elyxium Wealth LLC acquired a new stake in shares of Arch Capital Group in the fourth quarter valued at $27,000. WealthCollab LLC lifted its stake in Arch Capital Group by 410.3% during the 3rd quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 238 shares in the last quarter. JPL Wealth Management LLC acquired a new position in Arch Capital Group during the 3rd quarter worth about $28,000. Grove Bank & Trust purchased a new position in Arch Capital Group during the 4th quarter valued at about $30,000. Finally, Aventura Private Wealth LLC purchased a new position in Arch Capital Group during the 4th quarter valued at about $30,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Brian S. Posner sold 3,000 shares of Arch Capital Group stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total value of $58,980.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel Joseph Houston purchased 5,300 shares of the stock in a transaction on Thursday, April 30th. The shares were purchased at an average price of $94.08 per share, with a total value of $498,624.00. Following the acquisition, the director directly owned 9,915 shares in the company, valued at $932,803.20. This represents a 114.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Weiss Ratings downgraded Arch Capital Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Keefe, Bruyette & Woods reduced their price target on shares of Arch Capital Group from $102.00 to $99.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 8th. Wells Fargo & Company raised their price objective on shares of Arch Capital Group from $110.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Atlantic Securities set a $126.00 price objective on shares of Arch Capital Group in a report on Wednesday. Finally, UBS Group reaffirmed a “buy” rating and set a $120.00 target price (up from $114.00) on shares of Arch Capital Group in a research note on Wednesday, July 8th. 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 MarketBeat, Arch Capital Group presently has a consensus rating of “Hold” and a consensus price target of $109.39.

Arch Capital Group Price Performance

Shares of NASDAQ ACGL opened at $100.04 on Friday. The stock’s 50-day moving average is $94.94 and its two-hundred day moving average is $95.59. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.55 and a quick ratio of 0.55. Arch Capital Group Ltd. has a 1-year low of $82.44 and a 1-year high of $105.09. The company has a market cap of $34.95 billion, a price-to-earnings ratio of 7.68, a price-to-earnings-growth ratio of 4.90 and a beta of 0.31.

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

Arch Capital Group Company Profile

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.