Elevation Point Wealth Partners LLC Sells 858 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Elevation Point Wealth Partners LLC lessened its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 4.5% during the first quarter, HoldingsChannel.com reports. The firm owned 18,250 shares of the insurance provider’s stock after selling 858 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Arch Capital Group were worth $1,755,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ACGL. Van ECK Associates Corp lifted its position in shares of Arch Capital Group by 2.9% in the fourth quarter. Van ECK Associates Corp now owns 69,191 shares of the insurance provider’s stock worth $6,390,000 after purchasing an additional 1,941 shares in the last quarter. Avestar Capital LLC bought a new stake in Arch Capital Group during the fourth quarter worth $206,000. Vontobel Holding Ltd. raised its position in Arch Capital Group by 6.4% during the fourth quarter. Vontobel Holding Ltd. now owns 7,424 shares of the insurance provider’s stock worth $686,000 after acquiring an additional 448 shares in the last quarter. V Square Quantitative Management LLC raised its position in Arch Capital Group by 2.7% during the fourth quarter. V Square Quantitative Management LLC now owns 8,496 shares of the insurance provider’s stock worth $785,000 after acquiring an additional 227 shares in the last quarter. Finally, AustralianSuper Pty Ltd raised its position in Arch Capital Group by 736.4% during the fourth quarter. AustralianSuper Pty Ltd now owns 766,365 shares of the insurance provider’s stock worth $70,774,000 after acquiring an additional 674,739 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Morgan Stanley set a $110.00 price target on shares of Arch Capital Group and gave the stock an “overweight” rating in a research report on Monday, May 19th. Barclays dropped their price target on shares of Arch Capital Group from $100.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. Jefferies Financial Group lowered shares of Arch Capital Group from a “buy” rating to a “hold” rating and dropped their price target for the stock from $106.00 to $100.00 in a research report on Tuesday, June 10th. Wells Fargo & Company upped their price target on shares of Arch Capital Group from $106.00 to $108.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Finally, UBS Group upped their price objective on shares of Arch Capital Group to $124.00 and gave the company a “buy” rating in a report on Thursday. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $114.63.

Arch Capital Group Trading Down 1.0%

ACGL stock opened at $90.99 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.58 and a current ratio of 0.54. The company’s 50-day simple moving average is $92.61 and its 200 day simple moving average is $92.69. Arch Capital Group Ltd. has a 52 week low of $82.49 and a 52 week high of $116.47. The company has a market capitalization of $34.10 billion, a PE ratio of 8.12, a price-to-earnings-growth ratio of 2.31 and a beta of 0.53.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, April 29th. The insurance provider reported $1.54 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.05). Arch Capital Group had a net margin of 24.73% and a return on equity of 17.96%. The business had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.75 billion. During the same quarter last year, the company posted $2.45 earnings per share. The company’s revenue was up 10.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, CEO Nicolas Papadopoulo sold 7,636 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $92.48, for a total transaction of $706,177.28. Following the sale, the chief executive officer now directly owns 795,718 shares in the company, valued at $73,588,000.64. This represents a 0.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Francois Morin sold 12,630 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $94.58, for a total transaction of $1,194,545.40. Following the sale, the chief financial officer now owns 274,681 shares in the company, valued at $25,979,328.98. The trade was a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,976 shares of company stock worth $10,531,038. Corporate insiders own 4.20% of the company’s stock.

Arch Capital Group 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.