Arch Capital Group Ltd. $ACGL Shares Sold by Allstate Corp

Key Points

• Allstate Corp reduced its holdings in Arch Capital Group Ltd. by 47.9%, selling 5,435 shares to end up with 5,922 shares valued at approximately $570,000.
• A significant majority of Arch Capital's stock, about 89.07%, is owned by institutional investors, with notable new stakes from various hedge funds in the last quarter.
• Arch Capital's recent earnings report showed an EPS of $2.58, surpassing analysts' expectations, with revenues reaching $4.35 billion.

Allstate Corp lessened its position in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 47.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,922 shares of the insurance provider's stock after selling 5,435 shares during the quarter. Allstate Corp's holdings in Arch Capital Group were worth $570,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Nuveen LLC bought a new position in shares of Arch Capital Group in the first quarter worth about $399,651,000. JPMorgan Chase & Co. grew its holdings in shares of Arch Capital Group by 30.5% in the first quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider's stock worth $718,522,000 after purchasing an additional 1,743,945 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Arch Capital Group by 10,817.9% in the first quarter. GAMMA Investing LLC now owns 806,181 shares of the insurance provider's stock worth $775,380,000 after purchasing an additional 798,797 shares during the last quarter. GQG Partners LLC bought a new position in shares of Arch Capital Group in the first quarter worth about $71,769,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Arch Capital Group by 17.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,576,223 shares of the insurance provider's stock worth $330,264,000 after purchasing an additional 522,484 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Insider Transactions at Arch Capital Group

In other Arch Capital Group news, insider Maamoun Rajeh sold 10,000 shares of Arch Capital Group stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $94.15, for a total transaction of $941,500.00. Following the completion of the sale, the insider owned 433,589 shares of the company's stock, valued at approximately $40,822,404.35. The trade was a 2.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.20% of the stock is owned by corporate insiders.

Arch Capital Group Stock Up 0.4%

NASDAQ:ACGL traded up $0.33 during mid-day trading on Friday, hitting $91.53. 1,562,940 shares of the company's stock traded hands, compared to its average volume of 1,922,613. The company has a fifty day moving average of $89.53 and a 200 day moving average of $91.18. Arch Capital Group Ltd. has a twelve month low of $82.49 and a twelve month high of $116.47. The company has a market capitalization of $34.16 billion, a P/E ratio of 9.45, a P/E/G ratio of 5.62 and a beta of 0.49. 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 (NASDAQ:ACGL - Get Free Report) last announced its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.28. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%.The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same period in the prior year, the company posted $2.57 EPS. On average, analysts forecast that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on ACGL shares. Jefferies Financial Group downgraded Arch Capital Group from a "buy" rating to a "hold" rating and decreased their price objective for the company from $106.00 to $100.00 in a report on Tuesday, June 10th. Morgan Stanley set a $110.00 price objective on Arch Capital Group and gave the company an "overweight" rating in a report on Monday, May 19th. Cantor Fitzgerald upgraded Arch Capital Group to a "hold" rating in a report on Wednesday, August 13th. Cowen restated a "buy" rating on shares of Arch Capital Group in a report on Monday, August 4th. Finally, Citigroup started coverage on Arch Capital Group in a report on Wednesday, August 13th. They issued a "buy" rating and a $113.00 price objective for the company. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $111.27.

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.