Accurate Wealth Management LLC Buys New Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Accurate Wealth Management LLC acquired a new position in Arch Capital Group Ltd. (NASDAQ:ACGL) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 18,130 shares of the insurance provider’s stock, valued at approximately $1,959,000.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Arch Capital Group by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 40,858,890 shares of the insurance provider’s stock worth $3,776,996,000 after acquiring an additional 104,008 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Arch Capital Group by 4.4% during the 2nd quarter. Principal Financial Group Inc. now owns 7,100,952 shares of the insurance provider’s stock valued at $716,415,000 after acquiring an additional 300,716 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Arch Capital Group by 1.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,907,122 shares of the insurance provider’s stock valued at $546,054,000 after acquiring an additional 99,329 shares during the period. Capital International Investors boosted its holdings in Arch Capital Group by 61.1% during the 1st quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock valued at $380,167,000 after acquiring an additional 1,560,173 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Arch Capital Group by 6.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,925,288 shares of the insurance provider’s stock valued at $396,026,000 after acquiring an additional 244,285 shares during the period. Institutional investors own 89.07% of the company’s stock.

Arch Capital Group Stock Up 0.3 %

ACGL stock opened at $108.53 on Friday. The firm has a market cap of $40.75 billion, a PE ratio of 8.57, a P/E/G ratio of 2.06 and a beta of 0.59. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.60 and a current ratio of 0.60. The firm’s fifty day moving average is $110.05 and its 200 day moving average is $101.82. Arch Capital Group Ltd. has a one year low of $72.85 and a one year high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.36. The business had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the firm posted $1.92 earnings per share. On average, research analysts forecast that Arch Capital Group Ltd. will post 9.07 EPS for the current year.

Analysts Set New Price Targets

ACGL has been the subject of a number of recent analyst reports. Citigroup boosted their price objective on Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Keefe, Bruyette & Woods upped their target price on Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. TD Cowen upped their price objective on Arch Capital Group from $116.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Wells Fargo & Company upped their price objective on Arch Capital Group from $110.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Barclays initiated coverage on Arch Capital Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 price objective for the company. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Arch Capital Group currently has a consensus rating of “Moderate Buy” and an average target price of $119.53.

Insider Buying and Selling at Arch Capital Group

In other news, CFO Francois Morin sold 11,460 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $102.46, for a total value of $1,174,191.60. Following the transaction, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 4.20% of the company’s stock.

Arch Capital Group Company 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.