Arch Capital Group Ltd. (NASDAQ:ACGL) is RBA Wealth Management LLC’s 10th Largest Position

RBA Wealth Management LLC cut its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 5.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,489 shares of the insurance provider’s stock after selling 3,874 shares during the quarter. Arch Capital Group makes up 2.5% of RBA Wealth Management LLC’s portfolio, making the stock its 10th biggest holding. RBA Wealth Management LLC’s holdings in Arch Capital Group were worth $6,239,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Sunbelt Securities Inc. grew its position in shares of Arch Capital Group by 1.8% in the first quarter. Sunbelt Securities Inc. now owns 6,679 shares of the insurance provider’s stock valued at $617,000 after purchasing an additional 117 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Arch Capital Group by 2.7% in 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 period. Chase Investment Counsel Corp lifted its stake in shares of Arch Capital Group by 0.4% in 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 period. Legacy Wealth Asset Management LLC lifted its stake in shares of Arch Capital Group by 2.2% in 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 period. Finally, Balentine LLC lifted its stake in shares of Arch Capital Group by 2.8% in 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 period. 89.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. JMP Securities increased their target price 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, April 30th. JPMorgan Chase & Co. raised their price target on shares of Arch Capital Group from $88.00 to $92.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Morgan Stanley raised their price target on shares of Arch Capital Group from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Bank of America raised their price target on shares of Arch Capital Group from $109.00 to $119.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Finally, Evercore ISI raised their price target on shares of Arch Capital Group from $98.00 to $100.00 and gave the stock an “in-line” rating in a research note on Tuesday, April 30th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $102.00.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, CEO David Gansberg sold 10,000 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $96.64, for a total transaction of $966,400.00. Following the sale, the chief executive officer now directly owns 228,035 shares of the company’s stock, valued at approximately $22,037,302.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.00% of the stock is currently owned by insiders.

Arch Capital Group Trading Down 2.3 %

ACGL traded down $2.35 during trading on Thursday, reaching $97.65. 1,279,956 shares of the company’s stock were exchanged, compared to its average volume of 1,486,300. The company’s fifty day moving average price is $99.42 and its 200-day moving average price is $89.91. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 0.59. Arch Capital Group Ltd. has a fifty-two week low of $72.33 and a fifty-two week high of $103.79. The firm has a market capitalization of $36.67 billion, a PE ratio of 7.71, a P/E/G ratio of 1.71 and a beta of 0.58.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.39. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Arch Capital Group had a net margin of 33.65% and a return on equity of 21.85%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period last year, the firm posted $1.73 earnings per share. As a group, equities analysts forecast that Arch Capital Group Ltd. will post 8.55 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.