United Capital Financial Advisers LLC Trims Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Posted by Defense World Staff on Mar 9th, 2023

United Capital Financial Advisers LLC lessened its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL – Get Rating) by 39.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,635 shares of the insurance provider’s stock after selling 3,056 shares during the quarter. United Capital Financial Advisers LLC’s holdings in Arch Capital Group were worth $211,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Macquarie Group Ltd. raised its holdings in Arch Capital Group by 16.5% in the 3rd quarter. Macquarie Group Ltd. now owns 38,510 shares of the insurance provider’s stock valued at $1,754,000 after acquiring an additional 5,445 shares during the last quarter. Zacks Investment Management purchased a new position in Arch Capital Group during the third quarter worth about $8,102,000. Royal Bank of Canada boosted its stake in Arch Capital Group by 7.4% in the 3rd quarter. Royal Bank of Canada now owns 2,795,473 shares of the insurance provider’s stock worth $127,304,000 after buying an additional 192,462 shares during the last quarter. Allstate Corp boosted its stake in Arch Capital Group by 135.4% in the 3rd quarter. Allstate Corp now owns 22,461 shares of the insurance provider’s stock worth $1,023,000 after buying an additional 12,919 shares during the last quarter. Finally, Virtus ETF Advisers LLC grew its holdings in Arch Capital Group by 1.4% in the 3rd quarter. Virtus ETF Advisers LLC now owns 15,496 shares of the insurance provider’s stock valued at $706,000 after buying an additional 218 shares during the period. Institutional investors and hedge funds own 88.78% of the company’s stock.

Arch Capital Group Stock Down 1.0 %

Shares of NASDAQ:ACGL opened at $70.29 on Thursday. The company has a market capitalization of $26.09 billion, a price-to-earnings ratio of 18.50, a price-to-earnings-growth ratio of 1.16 and a beta of 0.74. The company has a 50 day moving average of $65.36 and a two-hundred day moving average of $57.02. Arch Capital Group Ltd. has a 52-week low of $41.05 and a 52-week high of $72.28. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.23.

Arch Capital Group (NASDAQ:ACGL – Get Rating) last posted its quarterly earnings data on Tuesday, February 14th. The insurance provider reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.80. Arch Capital Group had a net margin of 15.34% and a return on equity of 15.93%. The company had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same period in the prior year, the company posted $1.27 EPS. As a group, analysts forecast that Arch Capital Group Ltd. will post 6.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arch Capital Group news, CFO Francois Morin sold 15,814 shares of the firm’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $67.61, for a total transaction of $1,069,184.54. Following the completion of the transaction, the chief financial officer now directly owns 185,869 shares of the company’s stock, valued at approximately $12,566,603.09. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Nicolas Papadopoulo sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $70.16, for a total transaction of $2,104,800.00. Following the sale, the insider now directly owns 759,970 shares of the company’s stock, valued at approximately $53,319,495.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Francois Morin sold 15,814 shares of the business’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $67.61, for a total transaction of $1,069,184.54. Following the sale, the chief financial officer now owns 185,869 shares of the company’s stock, valued at approximately $12,566,603.09. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,143 shares of company stock worth $4,938,291. Insiders own 4.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of Arch Capital Group from $70.00 to $74.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 15th. JMP Securities upped their price objective on Arch Capital Group from $70.00 to $75.00 and gave the stock a “market perform” rating in a report on Tuesday, February 14th. Roth Capital reiterated a “buy” rating on shares of Arch Capital Group in a report on Tuesday, February 14th. Keefe, Bruyette & Woods upped their price target on Arch Capital Group from $69.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, February 16th. Finally, Barclays lifted their price objective on Arch Capital Group from $72.00 to $77.00 and gave the company an “overweight” rating in a research note on Wednesday, February 15th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.56.

Arch Capital Group Profile

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Arch Capital Group Ltd. engages in the provision of property and casualty insurance and reinsurance lines. It operates through the following segments: Insurance, Reinsurance, Mortgage, Corporate, and Other. The Insurance segment consists of insurance underwriting units which offer specialty product lines like construction and national accounts, excess and surplus casualty, lenders products, professional lines, and programs.