Arch Capital Group Ltd. $ACGL Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 3.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 208,251 shares of the insurance provider’s stock after selling 7,071 shares during the period. Pictet Asset Management Holding SA owned approximately 0.06% of Arch Capital Group worth $19,989,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, Director Brian S. Posner sold 3,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total value of $58,980.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel Joseph Houston purchased 5,300 shares of the stock in a transaction dated Thursday, April 30th. The shares were acquired at an average price of $94.08 per share, for a total transaction of $498,624.00. Following the acquisition, the director directly owned 9,915 shares of the company’s stock, valued at $932,803.20. This represents a 114.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 3.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Arch Capital Group from $105.00 to $102.00 and set a “market perform” rating on the stock in a report on Tuesday, May 5th. Mizuho reduced their target price on shares of Arch Capital Group from $102.00 to $101.00 and set a “neutral” rating for the company in a report on Tuesday, May 5th. Weiss Ratings lowered shares of Arch Capital Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Barclays upped their price target on Arch Capital Group from $104.00 to $106.00 and gave the company an “equal weight” rating in a report on Wednesday, April 8th. Finally, Morgan Stanley set a $105.00 price objective on Arch Capital Group in a research report on Friday, May 1st. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Arch Capital Group has a consensus rating of “Hold” and an average price target of $106.81.

Arch Capital Group Stock Performance

Arch Capital Group stock opened at $98.55 on Thursday. Arch Capital Group Ltd. has a fifty-two week low of $82.44 and a fifty-two week high of $103.39. The firm’s 50 day simple moving average is $93.68 and its 200-day simple moving average is $95.17. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.55 and a quick ratio of 0.55. The company has a market cap of $34.43 billion, a P/E ratio of 7.57, a price-to-earnings-growth ratio of 4.85 and a beta of 0.31.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $2.50 EPS for the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. The business had revenue of $4.52 billion during the quarter. As a group, equities research analysts predict that Arch Capital Group Ltd. will post 9.3 EPS for the current year.

Arch Capital Group 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.