Arch Capital Group Ltd. $ACGL Shares Sold by Capital Group Private Client Services Inc.

Key Points

• Capital Group Private Client Services cut its stake in Arch Capital Group (ACGL) by 78.2% in Q3, selling 188,837 shares and leaving 52,562 shares worth about $4.77 million.
• Company insiders sold a total of 260,096 shares last quarter — notably John M. Pasquesi (203,866 shares, ~$19.14M) and Maamoun Rajeh (47,430 shares, ~$4.56M) — leaving insiders with 4.10% ownership.
• Analysts carry a consensus "Hold" on ACGL with a $109.20 target despite a strong quarter (EPS $2.98 vs. $2.34 estimate, revenue $4.93B); the stock trades near $96 with a PE of 8.28.

Capital Group Private Client Services Inc. reduced its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 78.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 52,562 shares of the insurance provider's stock after selling 188,837 shares during the quarter. Capital Group Private Client Services Inc.'s holdings in Arch Capital Group were worth $4,769,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Geneos Wealth Management Inc. boosted its stake in Arch Capital Group by 157.9% during the first quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider's stock valued at $65,000 after buying an additional 412 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Arch Capital Group in the second quarter worth about $253,000. Savant Capital LLC lifted its holdings in Arch Capital Group by 9.6% in the 2nd quarter. Savant Capital LLC now owns 15,083 shares of the insurance provider's stock valued at $1,373,000 after acquiring an additional 1,315 shares during the last quarter. Vestmark Advisory Solutions Inc. acquired a new stake in Arch Capital Group in the 2nd quarter valued at about $338,000. Finally, Penserra Capital Management LLC boosted its position in shares of Arch Capital Group by 12.1% during the 2nd quarter. Penserra Capital Management LLC now owns 1,949 shares of the insurance provider's stock valued at $177,000 after purchasing an additional 211 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on ACGL. Morgan Stanley set a $125.00 price objective on shares of Arch Capital Group in a research note on Friday, January 16th. The Goldman Sachs Group reissued a "sell" rating and set a $93.00 target price (up from $84.00) on shares of Arch Capital Group in a research note on Wednesday, January 7th. UBS Group restated a "buy" rating and set a $114.00 target price (up from $113.00) on shares of Arch Capital Group in a report on Tuesday, February 17th. Mizuho upped their price target on Arch Capital Group from $95.00 to $102.00 and gave the company a "neutral" rating in a report on Thursday, February 12th. Finally, Barclays set a $104.00 price objective on Arch Capital Group and gave the company an "equal weight" rating in a research report on Thursday, January 8th. Nine research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $109.20.

Insider Activity at Arch Capital Group

In other news, insider John M. Pasquesi sold 203,866 shares of the business's stock in a transaction on Friday, December 12th. The shares were sold at an average price of $93.90, for a total transaction of $19,143,017.40. Following the transaction, the insider directly owned 351,356 shares in the company, valued at $32,992,328.40. The trade was a 36.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Maamoun Rajeh sold 47,430 shares of the company's stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $96.12, for a total transaction of $4,558,971.60. Following the completion of the transaction, the insider directly owned 433,589 shares in the company, valued at $41,676,574.68. This trade represents a 9.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 260,096 shares of company stock worth $24,530,685. Company insiders own 4.10% of the company's stock.

Arch Capital Group Trading Up 0.6%

NASDAQ:ACGL opened at $96.19 on Wednesday. The stock has a market cap of $34.22 billion, a PE ratio of 8.28, a price-to-earnings-growth ratio of 3.84 and a beta of 0.40. Arch Capital Group Ltd. has a fifty-two week low of $82.44 and a fifty-two week high of $103.39. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.53 and a quick ratio of 0.53. The stock's 50-day moving average is $96.27 and its two-hundred day moving average is $92.98.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings results on Monday, February 9th. The insurance provider reported $2.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.34 by $0.64. The business had revenue of $4.93 billion during the quarter, compared to analyst estimates of $3.94 billion. Arch Capital Group had a net margin of 22.07% and a return on equity of 16.73%. During the same period in the prior year, the firm earned $2.26 earnings per share. As a group, equities research analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Arch Capital Group Profile

Arch Capital Group Ltd. NASDAQ: ACGL is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch's product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty 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.