Avantax Advisory Services Inc. Purchases Shares of 6,622 Arch Capital Group Ltd. (NASDAQ:ACGL)

Avantax Advisory Services Inc. acquired a new stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGLFree Report) in the third quarter, Holdings Channel reports. The firm acquired 6,622 shares of the insurance provider’s stock, valued at approximately $528,000.

Several other institutional investors and hedge funds have also bought and sold shares of ACGL. WCM Investment Management LLC purchased a new stake in Arch Capital Group in the first quarter valued at $866,650,000. Norges Bank purchased a new stake in Arch Capital Group in the fourth quarter valued at $207,242,000. Capital International Investors purchased a new stake in Arch Capital Group in the second quarter valued at $185,990,000. Morgan Stanley boosted its holdings in Arch Capital Group by 116.3% in the fourth quarter. Morgan Stanley now owns 3,585,197 shares of the insurance provider’s stock valued at $225,079,000 after purchasing an additional 1,927,830 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Arch Capital Group by 49.0% in the second quarter. Goldman Sachs Group Inc. now owns 3,859,630 shares of the insurance provider’s stock valued at $288,893,000 after purchasing an additional 1,269,730 shares during the last quarter. 87.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ACGL has been the topic of several recent research reports. TD Cowen initiated coverage on shares of Arch Capital Group in a report on Wednesday, January 10th. They issued an “outperform” rating and a $96.00 price target on the stock. JPMorgan Chase & Co. upped their price target on shares of Arch Capital Group from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. Morgan Stanley upped their price objective on shares of Arch Capital Group from $100.00 to $103.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 31st. Evercore ISI started coverage on shares of Arch Capital Group in a research report on Thursday, December 14th. They issued an “inline” rating and a $88.00 price objective for the company. Finally, Royal Bank of Canada upped their price objective on shares of Arch Capital Group from $90.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 1st. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $91.43.

Get Our Latest Stock Analysis on ACGL

Arch Capital Group Stock Up 0.8 %

ACGL opened at $83.46 on Friday. Arch Capital Group Ltd. has a twelve month low of $62.10 and a twelve month high of $90.65. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $78.30 and a 200 day moving average price of $79.93. The company has a market cap of $31.14 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 1.07 and a beta of 0.57.

Insider Buying and Selling at Arch Capital Group

In other Arch Capital Group news, insider Nicolas Papadopoulo sold 60,000 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $85.80, for a total value of $5,148,000.00. Following the completion of the sale, the insider now owns 630,387 shares in the company, valued at approximately $54,087,204.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.20% of the stock is owned by insiders.

Arch Capital Group Profile

(Free Report)

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; collateral protection, debt cancellation, and service contract reimbursement products; 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.

See Also

Want to see what other hedge funds are holding ACGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arch Capital Group Ltd. (NASDAQ:ACGLFree Report).

Institutional Ownership by Quarter for Arch Capital Group (NASDAQ:ACGL)

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