AQR Capital Management LLC Sells 194,011 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• AQR Capital Management LLC has reduced its position in Arch Capital Group Ltd. (ACGL) by 14.3%, selling 194,011 shares in the first quarter, leaving it with 1,161,360 shares valued at approximately $111,549,000.
• The stock of Arch Capital Group opened at $92.22, and it holds a market cap of $34.42 billion with a P/E ratio of 9.52.
• Analysts have mixed ratings on ACGL, with Jefferies downgrading it to "hold" and reducing its price target from $106.00 to $100.00, while Citigroup has initiated coverage with a "buy" rating and a price target of $113.00.

AQR Capital Management LLC trimmed its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 14.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,161,360 shares of the insurance provider's stock after selling 194,011 shares during the period. AQR Capital Management LLC owned approximately 0.31% of Arch Capital Group worth $111,549,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ACGL. Harbour Investments Inc. lifted its stake in shares of Arch Capital Group by 8.4% in the 1st quarter. Harbour Investments Inc. now owns 1,431 shares of the insurance provider's stock valued at $138,000 after purchasing an additional 111 shares during the period. Resonant Capital Advisors LLC increased its position in shares of Arch Capital Group by 1.7% in the 1st quarter. Resonant Capital Advisors LLC now owns 6,672 shares of the insurance provider's stock valued at $642,000 after buying an additional 113 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of Arch Capital Group by 0.9% in the 1st quarter. Venturi Wealth Management LLC now owns 13,228 shares of the insurance provider's stock valued at $1,272,000 after buying an additional 115 shares in the last quarter. Hemington Wealth Management increased its position in shares of Arch Capital Group by 27.7% in the 1st quarter. Hemington Wealth Management now owns 548 shares of the insurance provider's stock valued at $52,000 after buying an additional 119 shares in the last quarter. Finally, Horizon Advisory Services Inc. increased its position in shares of Arch Capital Group by 4.2% in the 1st quarter. Horizon Advisory Services Inc. now owns 2,996 shares of the insurance provider's stock valued at $288,000 after buying an additional 120 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related 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 transaction, the insider owned 433,589 shares in the company, valued at approximately $40,822,404.35. This trade represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.10% of the company's stock.

Arch Capital Group Stock Down 1.4%

Shares of Arch Capital Group stock traded down $1.29 during trading hours on Tuesday, reaching $89.61. 2,580,537 shares of the company's stock were exchanged, compared to its average volume of 1,927,273. The company has a 50 day moving average of $89.70 and a two-hundred day moving average of $91.35. Arch Capital Group Ltd. has a fifty-two week low of $82.49 and a fifty-two week high of $116.47. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16. The stock has a market cap of $33.44 billion, a P/E ratio of 9.25, a P/E/G ratio of 5.59 and a beta of 0.51.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.30 by $0.28. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the prior year, the business posted $2.57 EPS. On average, sell-side analysts forecast that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. UBS Group restated a "buy" rating and issued a $118.00 price objective (down previously from $124.00) on shares of Arch Capital Group in a research report on Monday, August 4th. Jefferies Financial Group cut shares of Arch Capital Group from a "buy" rating to a "hold" rating and lowered their price objective for the company from $106.00 to $100.00 in a research report on Tuesday, June 10th. Cantor Fitzgerald upgraded Arch Capital Group to a "hold" rating in a report on Wednesday, August 13th. Cowen reiterated a "buy" rating on shares of Arch Capital Group in a report on Monday, August 4th. Finally, Wells Fargo & Company lowered their target price on Arch Capital Group from $110.00 to $107.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Arch Capital Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $111.27.

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.