Mount Yale Investment Advisors LLC Cuts Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Mount Yale Investment Advisors LLC trimmed its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 8.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,736 shares of the insurance provider’s stock after selling 1,884 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Arch Capital Group were worth $2,208,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of ACGL. Vanguard Group Inc. increased its position in Arch Capital Group by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 40,858,890 shares of the insurance provider’s stock valued at $3,776,996,000 after purchasing an additional 104,008 shares during the period. Principal Financial Group Inc. increased its position in shares of Arch Capital Group by 4.4% during the second quarter. Principal Financial Group Inc. now owns 7,100,952 shares of the insurance provider’s stock valued at $716,415,000 after buying an additional 300,716 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Arch Capital Group by 1.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,124,251 shares of the insurance provider’s stock worth $573,301,000 after buying an additional 49,426 shares in the last quarter. Capital International Investors lifted its holdings in Arch Capital Group by 61.1% in the first quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock worth $380,167,000 after buying an additional 1,560,173 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Arch Capital Group by 6.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,925,288 shares of the insurance provider’s stock valued at $396,026,000 after acquiring an additional 244,285 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

ACGL has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on Arch Capital Group from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Citigroup lifted their price target on shares of Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. TD Cowen boosted their price objective on shares of Arch Capital Group from $116.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Barclays initiated coverage on shares of Arch Capital Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 target price for the company. Finally, Bank of America boosted their price target on Arch Capital Group from $119.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Arch Capital Group currently has an average rating of “Moderate Buy” and an average target price of $119.53.

Insider Buying and Selling

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the completion of the sale, the chief financial officer now owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.20% of the stock is owned by insiders.

Arch Capital Group Price Performance

ACGL opened at $107.04 on Friday. The company’s 50-day simple moving average is $110.69 and its two-hundred day simple moving average is $102.24. Arch Capital Group Ltd. has a 52-week low of $72.85 and a 52-week high of $116.47. The stock has a market capitalization of $40.25 billion, a P/E ratio of 7.53, a P/E/G ratio of 2.00 and a beta of 0.59. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.60 and a current ratio of 0.60.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The business had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the previous year, the company posted $1.92 EPS. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, analysts predict that Arch Capital Group Ltd. will post 9.06 EPS for the current year.

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.