Cresset Asset Management LLC Sells 25,729 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Cresset Asset Management LLC cut its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 62.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,551 shares of the insurance provider's stock after selling 25,729 shares during the quarter. Cresset Asset Management LLC's holdings in Arch Capital Group were worth $1,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of ACGL. Nordea Investment Management AB lifted its holdings in Arch Capital Group by 3.1% in the 4th quarter. Nordea Investment Management AB now owns 30,283 shares of the insurance provider's stock worth $2,785,000 after buying an additional 905 shares during the period. Baker Tilly Wealth Management LLC lifted its holdings in Arch Capital Group by 7.3% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 3,509 shares of the insurance provider's stock worth $324,000 after buying an additional 240 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in Arch Capital Group by 4.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 9,258 shares of the insurance provider's stock worth $855,000 after buying an additional 380 shares during the period. Czech National Bank lifted its holdings in Arch Capital Group by 6.5% in the 4th quarter. Czech National Bank now owns 81,247 shares of the insurance provider's stock worth $7,503,000 after buying an additional 4,951 shares during the period. Finally, Wedmont Private Capital lifted its holdings in Arch Capital Group by 94.2% in the 4th quarter. Wedmont Private Capital now owns 10,556 shares of the insurance provider's stock worth $952,000 after buying an additional 5,120 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Stock Up 1.1%

Shares of Arch Capital Group stock traded up $1.00 on Friday, reaching $94.54. The company's stock had a trading volume of 484,296 shares, compared to its average volume of 1,781,921. The company has a market capitalization of $35.43 billion, a price-to-earnings ratio of 8.44, a P/E/G ratio of 2.31 and a beta of 0.57. The firm's fifty day simple moving average is $92.38 and its two-hundred day simple moving average is $93.64. Arch Capital Group Ltd. has a 52 week low of $82.49 and a 52 week high of $116.47. The company has a quick ratio of 0.58, a current ratio of 0.54 and a debt-to-equity ratio of 0.15.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its 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 the consensus estimate 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 previous year, the business posted $2.45 EPS. Equities analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Insiders Place Their Bets

In other Arch Capital Group news, insider John M. Pasquesi sold 75,060 shares of Arch Capital Group stock in a transaction on Monday, May 12th. The stock was sold at an average price of $94.01, for a total value of $7,056,390.60. Following the completion of the sale, the insider now owns 579,218 shares of the company's stock, valued at approximately $54,452,284.18. This trade represents a 11.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Louis T. Petrillo sold 16,650 shares of Arch Capital Group stock in a transaction on Friday, May 9th. The stock was sold at an average price of $94.53, for a total value of $1,573,924.50. Following the completion of the sale, the insider now directly owns 140,023 shares of the company's stock, valued at approximately $13,236,374.19. The trade was a 10.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,946 shares of company stock valued at $10,392,092. Corporate insiders own 4.20% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on ACGL shares. Keefe, Bruyette & Woods increased their price objective on Arch Capital Group from $104.00 to $113.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Jefferies Financial Group increased their price objective on Arch Capital Group from $105.00 to $106.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Morgan Stanley decreased their target price on Arch Capital Group from $115.00 to $110.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. JPMorgan Chase & Co. increased their target price 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. Finally, Wells Fargo & Company increased their target price on Arch Capital Group from $106.00 to $108.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Arch Capital Group has a consensus rating of "Moderate Buy" and a consensus price target of $115.00.

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.