Envestnet Asset Management Inc. increased its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 2.3% during the third quarter, bringing their total ownership to 2,071,692 shares valued at approximately $187.97 million. Other major institutional investors also added to their positions, resulting in institutional ownership of 89.07%. Despite insider selling activity totaling $20.7 million, Wall Street analysts maintain a consensus “Hold” rating for ACGL with an average target price of $107.53, against a current stock price near $101.98.
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Arch Capital Group Ltd. $ACGL Shares Bought by Envestnet Asset Management Inc.
Envestnet Asset Management Inc. increased its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 2.3% during the third quarter, bringing their total ownership to 2,071,692 shares valued at approximately $187.97 million. Other major institutional investors also added to their positions, resulting in institutional ownership of 89.07%. Despite insider selling activity totaling $20.7 million, Wall Street analysts maintain a consensus “Hold” rating for ACGL with an average target price of $107.53, against a current stock price near $101.98.