Cercano Management LLC Reduces Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Cercano Management LLC cut its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 92.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,500 shares of the insurance provider's stock after selling 285,344 shares during the period. Cercano Management LLC's holdings in Arch Capital Group were worth $2,078,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Arch Capital Group during the fourth quarter valued at $437,291,000. Madison Investment Advisors LLC purchased a new stake in shares of Arch Capital Group in the 4th quarter worth approximately $410,010,000. First Trust Advisors LP increased its position in Arch Capital Group by 663.3% during the 4th quarter. First Trust Advisors LP now owns 2,462,382 shares of the insurance provider's stock valued at $227,401,000 after buying an additional 2,139,782 shares in the last quarter. Marshall Wace LLP purchased a new position in Arch Capital Group during the fourth quarter valued at $151,342,000. Finally, Swedbank AB boosted its holdings in Arch Capital Group by 268.8% in the fourth quarter. Swedbank AB now owns 1,261,957 shares of the insurance provider's stock worth $116,542,000 after acquiring an additional 919,793 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ACGL shares. JPMorgan Chase & Co. lifted their price target on Arch Capital Group from $106.00 to $107.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. JMP Securities reaffirmed a "market outperform" rating and issued a $125.00 target price on shares of Arch Capital Group in a report on Wednesday, April 30th. UBS Group cut their price target on shares of Arch Capital Group from $127.00 to $124.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Barclays decreased their price objective on shares of Arch Capital Group from $100.00 to $93.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Finally, Jefferies Financial Group increased their target price on Arch Capital Group from $105.00 to $106.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $115.00.

Arch Capital Group Stock Up 0.1 %

Shares of ACGL stock opened at $92.58 on Tuesday. The company has a current ratio of 0.54, a quick ratio of 0.58 and a debt-to-equity ratio of 0.15. The stock has a market cap of $34.78 billion, a P/E ratio of 8.27, a P/E/G ratio of 2.31 and a beta of 0.57. Arch Capital Group Ltd. has a 12 month low of $82.49 and a 12 month high of $116.47. The company has a 50 day simple moving average of $92.12 and a two-hundred day simple moving average of $94.21.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The insurance provider reported $1.54 EPS for the quarter, missing analysts' consensus estimates of $1.59 by ($0.05). The business had revenue of $4.52 billion during the quarter, compared to analysts' expectations of $4.75 billion. Arch Capital Group had a return on equity of 17.96% and a net margin of 24.73%. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.45 earnings per share. On average, research analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Louis T. Petrillo sold 11,600 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $91.00, for a total value of $1,055,600.00. Following the sale, the insider now directly owns 140,023 shares in the company, valued at $12,742,093. The trade was a 7.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 4.20% of the company's stock.

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.

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