Evolve Private Wealth LLC Makes New $3.25 Million Investment in Arch Capital Group Ltd. $ACGL

Evolve Private Wealth LLC purchased a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 33,834 shares of the insurance provider’s stock, valued at approximately $3,245,000.

A number of other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in Arch Capital Group by 4.6% during the third quarter. JPMorgan Chase & Co. now owns 8,190,927 shares of the insurance provider’s stock worth $743,168,000 after acquiring an additional 360,626 shares in the last quarter. Norges Bank bought a new stake in shares of Arch Capital Group in the fourth quarter worth about $463,208,000. Morgan Stanley raised its position in shares of Arch Capital Group by 0.8% during the fourth quarter. Morgan Stanley now owns 4,289,082 shares of the insurance provider’s stock worth $411,409,000 after purchasing an additional 33,132 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Arch Capital Group by 5.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,949,978 shares of the insurance provider’s stock valued at $282,962,000 after purchasing an additional 160,326 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Arch Capital Group by 4.3% in the 4th quarter. Legal & General Group Plc now owns 2,944,169 shares of the insurance provider’s stock valued at $282,405,000 after purchasing an additional 121,090 shares during the period. Institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on ACGL. Mizuho dropped their target price on shares of Arch Capital Group from $102.00 to $101.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. Morgan Stanley set a $105.00 target price on shares of Arch Capital Group in a research note on Friday, May 1st. Barclays lifted their price target on Arch Capital Group from $104.00 to $106.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Citigroup increased their price objective on Arch Capital Group from $120.00 to $122.50 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. cut their target price on Arch Capital Group from $117.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Arch Capital Group currently has an average rating of “Hold” and a consensus price target of $106.81.

Arch Capital Group Trading Down 0.2%

Arch Capital Group stock opened at $92.37 on Thursday. The company has a market cap of $32.27 billion, a price-to-earnings ratio of 7.09, a P/E/G ratio of 4.63 and a beta of 0.32. The firm has a 50-day moving average of $94.18 and a 200-day moving average of $94.99. 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 one year low of $82.44 and a one year high of $103.39.

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

Insider Activity at Arch Capital Group

In related news, Director Daniel Joseph Houston acquired 5,300 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were bought at an average price of $94.08 per share, for a total transaction of $498,624.00. Following the purchase, the director directly owned 9,915 shares in the company, valued at approximately $932,803.20. This trade represents a 114.84% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian S. Posner sold 3,000 shares of the 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 SEC filing for this sale provides additional information. 3.30% 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.