Clark Capital Management Group Inc. Has $45.17 Million Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

Clark Capital Management Group Inc. lowered its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 31.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 489,117 shares of the insurance provider's stock after selling 223,995 shares during the period. Clark Capital Management Group Inc. owned approximately 0.13% of Arch Capital Group worth $45,170,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. JMP Securities reissued a "market outperform" rating and issued a $125.00 target price on shares of Arch Capital Group in a research report on Wednesday, April 30th. Wells Fargo & Company boosted their price objective on Arch Capital Group from $106.00 to $108.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Royal Bank of Canada reduced their target price on Arch Capital Group from $125.00 to $110.00 and set an "outperform" rating on the stock in a report on Wednesday, February 12th. Morgan Stanley lowered their price target on Arch Capital Group from $115.00 to $110.00 and set an "overweight" rating for the company in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. raised their price target on shares of Arch Capital Group from $106.00 to $107.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $115.00.

Insiders Place Their Bets

In other news, insider Louis T. Petrillo sold 11,600 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $91.00, for a total value of $1,055,600.00. Following the completion of the sale, the insider now owns 140,023 shares in the company, valued at $12,742,093. This represents a 7.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicolas Papadopoulo sold 7,636 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $92.48, for a total value of $706,177.28. Following the transaction, the chief executive officer now directly owns 795,718 shares in the company, valued at $73,588,000.64. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by company insiders.

Arch Capital Group Price Performance

Shares of NASDAQ ACGL traded down $0.02 during mid-day trading on Friday, reaching $94.54. 1,278,394 shares of the company traded hands, compared to its average volume of 1,729,541. The firm has a market cap of $35.52 billion, a PE ratio of 8.44, a price-to-earnings-growth ratio of 2.31 and a beta of 0.57. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.54 and a quick ratio of 0.58. Arch Capital Group Ltd. has a fifty-two week low of $82.49 and a fifty-two week high of $116.47. The stock has a fifty day simple moving average of $92.22 and a 200-day simple moving average of $93.92.

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

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.