CIBC Private Wealth Group LLC Has $658,000 Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

CIBC Private Wealth Group LLC lowered its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGLFree Report) by 9.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,859 shares of the insurance provider’s stock after selling 925 shares during the period. CIBC Private Wealth Group LLC’s holdings in Arch Capital Group were worth $658,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Harbor Capital Advisors Inc. raised its position in shares of Arch Capital Group by 2.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,448 shares of the insurance provider’s stock valued at $405,000 after buying an additional 144 shares during the last quarter. SRS Capital Advisors Inc. raised its position in shares of Arch Capital Group by 15.2% during the third quarter. SRS Capital Advisors Inc. now owns 1,107 shares of the insurance provider’s stock valued at $88,000 after buying an additional 146 shares during the last quarter. Chase Investment Counsel Corp raised its position in shares of Arch Capital Group by 0.4% during the fourth quarter. Chase Investment Counsel Corp now owns 39,656 shares of the insurance provider’s stock valued at $2,945,000 after buying an additional 148 shares during the last quarter. Legacy Wealth Asset Management LLC raised its position in shares of Arch Capital Group by 2.2% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 6,985 shares of the insurance provider’s stock valued at $519,000 after buying an additional 149 shares during the last quarter. Finally, Balentine LLC raised its position in shares of Arch Capital Group by 2.8% during the fourth quarter. Balentine LLC now owns 5,527 shares of the insurance provider’s stock valued at $410,000 after buying an additional 149 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Activity at Arch Capital Group

In related news, CEO David Gansberg sold 10,000 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $96.64, for a total value of $966,400.00. Following the transaction, the chief executive officer now directly owns 228,035 shares in the company, valued at $22,037,302.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ACGL has been the topic of a number of analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $98.00 target price on shares of Arch Capital Group in a research note on Friday, February 16th. Bank of America upped their target price on shares of Arch Capital Group from $109.00 to $119.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Roth Mkm reissued a “buy” rating and issued a $110.00 target price on shares of Arch Capital Group in a research note on Tuesday, April 30th. JPMorgan Chase & Co. upped their target price on shares of Arch Capital Group from $88.00 to $92.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, StockNews.com raised shares of Arch Capital Group from a “hold” rating to a “buy” rating in a research note on Sunday, June 2nd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Arch Capital Group presently has an average rating of “Moderate Buy” and an average target price of $101.33.

Read Our Latest Stock Analysis on ACGL

Arch Capital Group Price Performance

ACGL opened at $100.58 on Tuesday. Arch Capital Group Ltd. has a one year low of $69.49 and a one year high of $103.79. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.59 and a quick ratio of 0.59. The company’s 50 day simple moving average is $96.63 and its 200-day simple moving average is $87.65. The stock has a market capitalization of $37.77 billion, a P/E ratio of 7.94, a price-to-earnings-growth ratio of 1.87 and a beta of 0.60.

Arch Capital Group (NASDAQ:ACGLGet Free Report) last released its quarterly earnings results on Monday, April 29th. The insurance provider reported $2.45 EPS for the quarter, beating the consensus estimate 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 business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the firm earned $1.73 earnings per share. Arch Capital Group’s revenue was up 19.3% compared to the same quarter last year. Sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.55 earnings per share for the current fiscal year.

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; 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.

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

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