Arch Capital Group Ltd. $ACGL Shares Sold by Carderock Capital Management Inc.

Key Points

• Carderock Capital Management Inc. reduced its stake in Arch Capital Group Ltd. by 11.6%, owning 83,542 shares worth approximately $8 million after selling 10,988 shares in the first quarter.
• Notable institutional investors like Nuveen LLC and JPMorgan Chase & Co. have significantly increased their stakes, highlighting strong interest in Arch Capital Group, with hedge funds now owning 89.07% of the stock.
• Arch Capital Group's latest earnings report showed an EPS of $2.58, surpassing expectations, and analysts have set a consensus price target of $111.27 with multiple upgrades and downgrades in recent months.

Carderock Capital Management Inc. reduced its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 11.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 83,542 shares of the insurance provider's stock after selling 10,988 shares during the period. Arch Capital Group makes up 2.1% of Carderock Capital Management Inc.'s investment portfolio, making the stock its 22nd largest holding. Carderock Capital Management Inc.'s holdings in Arch Capital Group were worth $8,035,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Nuveen LLC acquired a new stake in shares of Arch Capital Group during the first quarter worth about $399,651,000. JPMorgan Chase & Co. raised its stake in Arch Capital Group by 30.5% during the 1st 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 last quarter. GAMMA Investing LLC lifted its position in Arch Capital Group by 10,817.9% during the 1st quarter. GAMMA Investing LLC now owns 806,181 shares of the insurance provider's stock worth $775,380,000 after acquiring an additional 798,797 shares during the period. GQG Partners LLC purchased a new position in shares of Arch Capital Group in the 1st quarter valued at approximately $71,769,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Arch Capital Group by 17.1% in the 4th 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 valued at $330,264,000 after purchasing an additional 522,484 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Cantor Fitzgerald upgraded Arch Capital Group to a "hold" rating in a research note on Wednesday, August 13th. Keefe, Bruyette & Woods boosted their price objective on shares of Arch Capital Group from $102.00 to $103.00 and gave the company a "market perform" rating in a research note on Thursday, August 14th. Citigroup assumed coverage on shares of Arch Capital Group in a research report on Wednesday, August 13th. They set a "buy" rating and a $113.00 price objective for the company. Jefferies Financial Group downgraded shares of Arch Capital Group from a "buy" rating to a "hold" rating and lowered their target price for the company from $106.00 to $100.00 in a report on Tuesday, June 10th. Finally, Morgan Stanley set a $110.00 price target on shares of Arch Capital Group and gave the stock an "overweight" rating in a research note on Monday, May 19th. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Arch Capital Group presently has an average rating of "Moderate Buy" and a consensus price target of $111.27.

Insider Activity at Arch Capital Group

In related news, insider Maamoun Rajeh sold 10,000 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total value of $941,500.00. Following the sale, the insider owned 433,589 shares in the company, valued at $40,822,404.35. This represents a 2.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.20% of the stock is owned by company insiders.

Arch Capital Group Stock Performance

Shares of ACGL opened at $90.60 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16. Arch Capital Group Ltd. has a 52-week low of $82.49 and a 52-week high of $116.47. The company has a 50-day simple moving average of $89.71 and a 200-day simple moving average of $91.34. The company has a market capitalization of $33.81 billion, a PE ratio of 9.35, a P/E/G ratio of 5.49 and a beta of 0.51.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released 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 firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the firm earned $2.57 earnings per share. Equities research analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal 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.

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