387,797 Arch Capital Group Ltd. $ACGL Shares Sold by Cooke & Bieler LP

Key Points

• Cooke & Bieler LP cut its Arch Capital Group stake by 17.5% in the third quarter, selling 387,797 shares and retaining 1.83 million shares valued at approximately $169.2 million. Institutional investors collectively own 89.07% of ACGL.
• Analyst sentiment is mixed: the stock carries a consensus “Hold” rating with an average price target of $108.39, while individual targets range from $100 to $120.
• Arch Capital shares opened at $100.28, near the middle of their 52-week range. The insurer recently beat quarterly earnings and revenue expectations, reporting EPS of $2.56 and revenue of $4.67 billion.

Cooke & Bieler LP decreased its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 17.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,831,651 shares of the insurance provider's stock after selling 387,797 shares during the quarter. Arch Capital Group makes up 2.5% of Cooke & Bieler LP's portfolio, making the stock its 6th largest position. Cooke & Bieler LP owned 0.54% of Arch Capital Group worth $169,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Madison Asset Management LLC purchased a new position in shares of Arch Capital Group during the second quarter valued at $368,808,000. First Trust Advisors LP lifted its holdings in Arch Capital Group by 319.5% during the first quarter. First Trust Advisors LP now owns 2,626,148 shares of the insurance provider's stock worth $252,084,000 after buying an additional 2,000,162 shares during the period. Hsbc Holdings PLC boosted its position in Arch Capital Group by 230.0% during the 1st quarter. Hsbc Holdings PLC now owns 1,286,178 shares of the insurance provider's stock valued at $123,354,000 after acquiring an additional 896,480 shares in the last quarter. Davis Asset Management L.P. bought a new position in shares of Arch Capital Group in the 2nd quarter worth $63,089,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in Arch Capital Group by 50.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,910,063 shares of the insurance provider's stock valued at $183,347,000 after purchasing an additional 641,462 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Insider Buying and Selling at Arch Capital Group

In related news, CFO Francois Morin sold 11,010 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $99.32, for a total value of $1,093,513.20. Following the completion of the sale, the chief financial officer owned 184,826 shares of the company's stock, valued at approximately $18,356,918.32. This trade represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wells Fargo & Company reiterated an "overweight" rating and set a $107.00 price objective (down from $117.00) on shares of Arch Capital Group in a research note on Monday, October 12th. Morgan Stanley set a $100.00 price target on Arch Capital Group and gave the stock an "equal weight" rating in a research note on Tuesday, October 13th. UBS Group restated a "buy" rating and set a $120.00 price target (up from $114.00) on shares of Arch Capital Group in a research note on Wednesday, July 8th. Citigroup restated a "market outperform" rating on shares of Arch Capital Group in a research note on Wednesday, July 29th. Finally, Weiss Ratings upgraded Arch Capital Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, October 9th. Six equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $108.39.

Arch Capital Group Trading Down 1.0%

Shares of ACGL stock opened at $100.28 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.57 and a quick ratio of 0.57. The company has a market cap of $34.22 billion, a price-to-earnings ratio of 7.84, a PEG ratio of 3.05 and a beta of 0.28. The stock has a 50 day simple moving average of $97.33 and a 200-day simple moving average of $96.82. Arch Capital Group Ltd. has a 1-year low of $82.44 and a 1-year high of $107.08.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its earnings results on Tuesday, July 28th. The insurance provider reported $2.56 EPS for the quarter, topping analysts' consensus estimates of $2.47 by $0.09. The business had revenue of $4.67 billion during the quarter, compared to analysts' expectations of $4.36 billion. Arch Capital Group had a net margin of 24.40% and a return on equity of 17.06%. During the same quarter in the previous year, the company earned $2.58 earnings per share. On average, equities research analysts expect that Arch Capital Group Ltd. will post 9.70 EPS for the current fiscal year.

Arch Capital Group Company Profile

Arch Capital Group Ltd. is a Bermuda-based insurance, reinsurance and mortgage insurance company whose shares trade on the Nasdaq under the symbol ACGL. The company was established in 1995 and has developed into a global provider of specialty risk-management products and services.

Through its insurance operations, Arch offers property, casualty, specialty, and accident and health coverage to businesses and other policyholders. Its reinsurance operations provide coverage and risk-transfer solutions to insurance companies across a range of property and casualty lines.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.