Arch Capital Group Ltd. (NASDAQ:ACGL) Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. cut its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 21.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 29,518 shares of the insurance provider’s stock after selling 7,982 shares during the quarter. 1832 Asset Management L.P.’s holdings in Arch Capital Group were worth $2,729,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ACGL. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Arch Capital Group in the fourth quarter valued at approximately $27,000. Larson Financial Group LLC acquired a new stake in Arch Capital Group during the 4th quarter valued at $30,000. Richardson Financial Services Inc. purchased a new position in Arch Capital Group during the fourth quarter worth $33,000. CVA Family Office LLC acquired a new position in shares of Arch Capital Group in the fourth quarter worth $47,000. Finally, Indiana Trust & Investment Management CO purchased a new stake in shares of Arch Capital Group in the first quarter valued at $58,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Arch Capital Group

In other news, CEO David Gansberg sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $96.64, for a total transaction of $966,400.00. Following the completion of 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 legal filing with the SEC, which is accessible through this link. 4.20% of the stock is currently owned by company insiders.

Arch Capital Group Stock Performance

NASDAQ:ACGL traded up $2.44 during midday trading on Friday, reaching $96.91. 1,108,464 shares of the company traded hands, compared to its average volume of 1,275,830. The firm has a market capitalization of $36.39 billion, a price-to-earnings ratio of 7.65, a price-to-earnings-growth ratio of 1.57 and a beta of 0.58. The company has a fifty day moving average price of $99.59 and a 200 day moving average price of $92.53. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.59 and a quick ratio of 0.59. Arch Capital Group Ltd. has a twelve month low of $72.85 and a twelve month high of $103.79.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share (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 company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the previous year, the company posted $1.73 earnings per share. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. On average, analysts expect that Arch Capital Group Ltd. will post 8.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ACGL has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on Arch Capital Group from $96.00 to $106.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Wells Fargo & Company lifted their price target on Arch Capital Group from $109.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Roth Mkm reiterated a “buy” rating and set a $110.00 price objective on shares of Arch Capital Group in a report on Tuesday, April 30th. Bank of America reduced their price objective on Arch Capital Group from $119.00 to $118.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Finally, Evercore ISI raised their target price on Arch Capital Group from $98.00 to $100.00 and gave the company an “in-line” rating in a report on Tuesday, April 30th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.87.

Arch Capital Group Company 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.