Dakota Wealth Management Trims Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Dakota Wealth Management decreased its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 2.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,607 shares of the insurance provider’s stock after selling 136 shares during the quarter. Dakota Wealth Management’s holdings in Arch Capital Group were worth $739,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Fiduciary Financial Group LLC increased its stake in Arch Capital Group by 2.8% during the third quarter. Fiduciary Financial Group LLC now owns 3,779 shares of the insurance provider’s stock worth $415,000 after acquiring an additional 103 shares during the last quarter. Baldwin Brothers LLC MA increased its stake in Arch Capital Group by 50.7% during the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 104 shares during the last quarter. Fidelis Capital Partners LLC grew its stake in shares of Arch Capital Group by 3.1% in the second quarter. Fidelis Capital Partners LLC now owns 3,553 shares of the insurance provider’s stock valued at $344,000 after buying an additional 106 shares in the last quarter. Resonant Capital Advisors LLC grew its stake in shares of Arch Capital Group by 2.1% in the first quarter. Resonant Capital Advisors LLC now owns 5,802 shares of the insurance provider’s stock valued at $536,000 after buying an additional 118 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Arch Capital Group by 41.9% in the third quarter. UMB Bank n.a. now owns 427 shares of the insurance provider’s stock valued at $48,000 after buying an additional 126 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Activity

In other 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 value of $1,174,191.60. Following the completion of the sale, the chief financial officer now directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.20% of the company’s stock.

Arch Capital Group Stock Down 1.6 %

Shares of NASDAQ ACGL opened at $105.30 on Monday. The company has a market capitalization of $39.54 billion, a price-to-earnings ratio of 8.31, a price-to-earnings-growth ratio of 2.00 and a beta of 0.59. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.60. The business has a 50-day moving average of $110.75 and a two-hundred day moving average of $102.47. Arch Capital Group Ltd. has a 1 year low of $72.85 and a 1 year high of $116.47.

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

Analyst Ratings Changes

ACGL has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their price objective on Arch Capital Group from $120.00 to $121.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. JMP Securities lifted their price objective on Arch Capital Group from $115.00 to $125.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 15th. Jefferies Financial Group lifted their price objective on Arch Capital Group from $114.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Citigroup lifted their price objective on Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Finally, Royal Bank of Canada lifted their price objective on Arch Capital Group from $108.00 to $112.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.53.

Arch Capital Group Profile

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.