Eagle Wealth Strategies LLC Invests $446,000 in Arch Capital Group Ltd. (NASDAQ:ACGL)

Eagle Wealth Strategies LLC bought a new position in Arch Capital Group Ltd. (NASDAQ:ACGL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,000 shares of the insurance provider’s stock, valued at approximately $446,000.

Several other hedge funds have also recently modified their holdings of ACGL. Northern Trust Corp raised its stake in Arch Capital Group by 9.2% during the third quarter. Northern Trust Corp now owns 4,652,983 shares of the insurance provider’s stock valued at $370,889,000 after purchasing an additional 390,362 shares in the last quarter. Invesco Ltd. raised its stake in Arch Capital Group by 16.3% during the third quarter. Invesco Ltd. now owns 3,385,665 shares of the insurance provider’s stock valued at $269,871,000 after purchasing an additional 475,464 shares in the last quarter. Royal Bank of Canada raised its stake in Arch Capital Group by 3.4% during the third quarter. Royal Bank of Canada now owns 3,151,688 shares of the insurance provider’s stock valued at $251,222,000 after purchasing an additional 104,299 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Arch Capital Group by 112.4% during the third quarter. Envestnet Asset Management Inc. now owns 2,620,807 shares of the insurance provider’s stock valued at $208,905,000 after purchasing an additional 1,387,072 shares in the last quarter. Finally, Barclays PLC raised its stake in Arch Capital Group by 18.8% during the third quarter. Barclays PLC now owns 2,240,381 shares of the insurance provider’s stock valued at $178,581,000 after purchasing an additional 354,482 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ACGL shares. Citigroup decreased their price target on shares of Arch Capital Group from $91.00 to $89.00 and set a “neutral” rating on the stock in a research note on Monday, January 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $98.00 price target on shares of Arch Capital Group in a research note on Friday, February 16th. JMP Securities reiterated a “market outperform” rating and set a $100.00 price objective on shares of Arch Capital Group in a research report on Monday, April 15th. StockNews.com cut shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, Morgan Stanley boosted their price objective on shares of Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $96.23.

Arch Capital Group Trading Up 0.6 %

NASDAQ ACGL opened at $91.49 on Monday. The company’s 50-day moving average price is $90.34 and its 200-day moving average price is $84.43. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.17. The stock has a market cap of $34.32 billion, a PE ratio of 7.82, a PEG ratio of 1.13 and a beta of 0.57. Arch Capital Group Ltd. has a 12 month low of $69.05 and a 12 month high of $95.01.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Thursday, February 15th. The insurance provider reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.55. The firm had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.67 billion. Arch Capital Group had a net margin of 32.59% and a return on equity of 21.94%. During the same period in the prior year, the business posted $2.14 earnings per share. Equities research analysts forecast that Arch Capital Group Ltd. will post 8.03 earnings per share for the current year.

Insiders Place Their Bets

In other Arch Capital Group news, CFO Francois Morin sold 25,689 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $87.47, for a total transaction of $2,247,016.83. Following the transaction, the chief financial officer now owns 221,779 shares of the company’s stock, valued at approximately $19,399,009.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Francois Morin sold 25,689 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $87.47, for a total value of $2,247,016.83. Following the sale, the chief financial officer now directly owns 221,779 shares in the company, valued at approximately $19,399,009.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Maamoun Rajeh sold 50,000 shares of Arch Capital Group stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $87.48, for a total transaction of $4,374,000.00. Following the completion of the sale, the chief executive officer now owns 336,170 shares of the company’s stock, valued at $29,408,151.60. The disclosure for this sale can be found here. Insiders have sold a total of 135,689 shares of company stock worth $11,872,217 in the last three months. Corporate insiders own 4.00% 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.