Aigen Investment Management LP Sells 3,481 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Key Points

• Aigen Investment Management LP reduced its stake in Arch Capital Group by 48.6%, leaving them with 3,683 shares valued at approximately $354,000 according to their latest SEC filing.
• Other institutional investors such as Benjamin Edwards Inc. and Citigroup Inc. have increased their stakes, with Citigroup boosting its ownership by 86.2% during the same period.
• Arch Capital Group reported $2.58 earnings per share in its latest earnings release, surpassing analyst expectations of $2.30, while revenue reached $4.35 billion.

Aigen Investment Management LP reduced its position in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 48.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,683 shares of the insurance provider's stock after selling 3,481 shares during the quarter. Aigen Investment Management LP's holdings in Arch Capital Group were worth $354,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Benjamin Edwards Inc. lifted its position in Arch Capital Group by 21.2% in the first quarter. Benjamin Edwards Inc. now owns 21,093 shares of the insurance provider's stock worth $2,029,000 after purchasing an additional 3,692 shares during the period. Covestor Ltd lifted its holdings in shares of Arch Capital Group by 46.3% during the first quarter. Covestor Ltd now owns 2,341 shares of the insurance provider's stock valued at $225,000 after acquiring an additional 741 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Arch Capital Group by 30.5% during the first quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider's stock valued at $718,522,000 after acquiring an additional 1,743,945 shares during the period. Zions Bancorporation National Association UT bought a new position in shares of Arch Capital Group during the first quarter valued at $37,000. Finally, Citigroup Inc. lifted its holdings in shares of Arch Capital Group by 86.2% during the first quarter. Citigroup Inc. now owns 654,783 shares of the insurance provider's stock valued at $62,977,000 after acquiring an additional 303,104 shares during the period. 89.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ACGL has been the subject of a number of analyst reports. Citigroup initiated coverage on Arch Capital Group in a report on Wednesday. They set a "buy" rating and a $113.00 price objective for the company. Keefe, Bruyette & Woods lifted their price objective on Arch Capital Group from $102.00 to $103.00 and gave the company a "market perform" rating in a report on Thursday. UBS Group reissued a "buy" rating and set a $118.00 price objective (down from $124.00) on shares of Arch Capital Group in a report on Monday, August 4th. Cantor Fitzgerald raised Arch Capital Group to a "hold" rating in a report on Wednesday. Finally, Morgan Stanley set a $110.00 price target on Arch Capital Group and gave the company an "overweight" rating in a report on Monday, May 19th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Arch Capital Group has a consensus rating of "Moderate Buy" and a consensus target price of $112.13.

Arch Capital Group Stock Down 0.8%

NASDAQ ACGL traded down $0.74 during trading on Friday, hitting $90.72. The stock had a trading volume of 3,051,822 shares, compared to its average volume of 2,644,230. The company has a market capitalization of $33.86 billion, a PE ratio of 9.36, a P/E/G ratio of 5.56 and a beta of 0.49. The company's 50-day moving average price is $89.30 and its two-hundred day moving average price is $91.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. Arch Capital Group Ltd. has a 12 month low of $82.49 and a 12 month high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.30 by $0.28. The firm had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.29 billion. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%. During the same quarter in the previous year, the business posted $2.57 EPS. As a group, sell-side analysts forecast that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

About Arch Capital Group

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.