Axxcess Wealth Management LLC Purchases 58,158 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Axxcess Wealth Management LLC grew its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 1,090.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 63,492 shares of the insurance provider’s stock after buying an additional 58,158 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Arch Capital Group were worth $4,716,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. increased its stake in shares of Arch Capital Group by 112.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,620,807 shares of the insurance provider’s stock worth $208,905,000 after purchasing an additional 1,387,072 shares during the last quarter. Hsbc Holdings PLC grew its stake in Arch Capital Group by 597.9% in the 3rd quarter. Hsbc Holdings PLC now owns 1,419,944 shares of the insurance provider’s stock valued at $113,516,000 after buying an additional 1,216,498 shares in the last quarter. Assetmark Inc. grew its stake in Arch Capital Group by 316.7% in the 3rd quarter. Assetmark Inc. now owns 977,982 shares of the insurance provider’s stock valued at $77,955,000 after buying an additional 743,303 shares in the last quarter. Invesco Ltd. grew its stake in Arch Capital Group by 16.3% in the 3rd quarter. Invesco Ltd. now owns 3,385,665 shares of the insurance provider’s stock valued at $269,871,000 after buying an additional 475,464 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Arch Capital Group in the 4th quarter valued at approximately $295,440,000. Institutional investors own 89.07% of the company’s stock.

Arch Capital Group Price Performance

Shares of NASDAQ ACGL traded down $0.76 during mid-day trading on Friday, reaching $94.41. 1,696,539 shares of the company were exchanged, compared to its average volume of 1,731,061. Arch Capital Group Ltd. has a 52 week low of $69.05 and a 52 week high of $96.58. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $35.42 billion, a PE ratio of 7.45, a PEG ratio of 1.13 and a beta of 0.57. The company’s 50 day moving average price is $91.15 and its 200 day moving average price is $84.77.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Monday, April 29th. The insurance provider reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.39. Arch Capital Group had a net margin of 33.65% and a return on equity of 21.85%. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the previous year, the firm posted $1.73 EPS. The firm’s revenue was up 19.3% compared to the same quarter last year. Sell-side analysts forecast that Arch Capital Group Ltd. will post 8.43 earnings per share for the current fiscal year.

Insider Transactions at Arch Capital Group

In other news, insider Nicolas Papadopoulo sold 60,000 shares of Arch Capital Group stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $87.52, for a total transaction of $5,251,200.00. Following the completion of the sale, the insider now directly owns 651,931 shares of the company’s stock, valued at approximately $57,057,001.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Nicolas Papadopoulo sold 60,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $87.52, for a total value of $5,251,200.00. Following the completion of the sale, the insider now owns 651,931 shares of the company’s stock, valued at approximately $57,057,001.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Maamoun Rajeh sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $87.48, for a total value of $4,374,000.00. Following the transaction, the chief executive officer now owns 336,170 shares in the company, valued at $29,408,151.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 135,689 shares of company stock valued at $11,872,217. Insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ACGL. TD Cowen began coverage on shares of Arch Capital Group in a research note on Wednesday, January 10th. They issued an “outperform” rating and a $96.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Arch Capital Group from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday. Citigroup reduced their price objective on shares of Arch Capital Group from $91.00 to $89.00 and set a “neutral” rating for the company in a research note on Monday, January 22nd. JMP Securities lifted their price objective on shares of Arch Capital Group from $100.00 to $110.00 and gave the company a “market outperform” rating in a research note on Tuesday. Finally, StockNews.com upgraded shares of Arch Capital Group from a “hold” rating to a “buy” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Arch Capital Group has a consensus rating of “Moderate Buy” and an average target price of $100.67.

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.