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

Elevation Point Wealth Partners LLC cut its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 4.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of ACGL. Capital A Wealth Management LLC bought a new position in shares of Arch Capital Group in the fourth quarter worth about $25,000. Cullen Frost Bankers Inc. bought a new position in shares of Arch Capital Group in the fourth quarter worth about $37,000. Quarry LP bought a new position in shares of Arch Capital Group in the fourth quarter worth about $58,000. McIlrath & Eck LLC raised its stake in shares of Arch Capital Group by 165.3% in the fourth quarter. McIlrath & Eck LLC now owns 666 shares of the insurance provider’s stock worth $62,000 after acquiring an additional 415 shares during the last quarter. Finally, Larson Financial Group LLC raised its stake in shares of Arch Capital Group by 47.0% in the fourth quarter. Larson Financial Group LLC now owns 910 shares of the insurance provider’s stock worth $84,000 after acquiring an additional 291 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Arch Capital Group Stock Down 1.0%

Shares of NASDAQ ACGL opened at $90.99 on Friday. The stock has a market cap of $34.10 billion, a P/E ratio of 8.12, a P/E/G ratio of 2.31 and a beta of 0.53. The firm has a 50 day moving average price of $92.61 and a 200 day moving average price of $92.69. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.58 and a current ratio of 0.54. Arch Capital Group Ltd. has a 52-week low of $82.49 and a 52-week high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.75 billion. During the same period in the previous year, the firm posted $2.45 EPS. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. Analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on ACGL. JMP Securities reaffirmed a “market outperform” rating and issued a $125.00 target price on shares of Arch Capital Group in a research note on Wednesday, April 30th. JPMorgan Chase & Co. lifted their price target on shares of Arch Capital Group from $106.00 to $107.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 8th. Barclays lowered their price target on shares of Arch Capital Group from $100.00 to $93.00 and set an “equal weight” rating for the company in a research report on Friday, April 11th. Wells Fargo & Company lifted 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, 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. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Arch Capital Group has a consensus rating of “Moderate Buy” and a consensus price target of $114.63.

Insider Buying and Selling at Arch Capital Group

In other news, insider John M. Pasquesi sold 75,060 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $94.01, for a total value of $7,056,390.60. Following the sale, the insider now owns 579,218 shares of the company’s stock, valued at $54,452,284.18. The trade was a 11.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Nicolas Papadopoulo sold 7,636 shares of the business’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $92.48, for a total transaction of $706,177.28. Following the completion of the sale, the chief executive officer now directly owns 795,718 shares in the company, valued at approximately $73,588,000.64. This represents a 0.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,976 shares of company stock valued at $10,531,038. 4.20% of the stock is currently owned by corporate insiders.

About Arch Capital Group

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.