Arch Capital Group Ltd. $ACGL Stock Position Reduced 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 stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 11.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,542 shares of the insurance provider's stock after selling 10,988 shares during the period. Arch Capital Group comprises approximately 2.1% of Carderock Capital Management Inc.'s holdings, making the stock its 22nd biggest position. Carderock Capital Management Inc.'s holdings in Arch Capital Group were worth $8,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ACGL. Capital A Wealth Management LLC acquired a new position in Arch Capital Group during the 4th quarter worth $25,000. Bartlett & CO. Wealth Management LLC bought a new position in shares of Arch Capital Group in the 1st quarter worth about $27,000. Meeder Asset Management Inc. lifted its position in shares of Arch Capital Group by 116.3% in the 1st quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock worth $27,000 after buying an additional 150 shares during the last quarter. Wayfinding Financial LLC bought a new position in shares of Arch Capital Group in the 1st quarter worth about $31,000. Finally, Zions Bancorporation National Association UT bought a new position in shares of Arch Capital Group in the 1st quarter worth about $37,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Arch Capital Group

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of Arch Capital Group in a research report on Wednesday, August 13th. They issued a "buy" rating and a $113.00 price target on the stock. UBS Group restated a "buy" rating and issued a $118.00 price target (down from $124.00) on shares of Arch Capital Group in a research report on Monday, August 4th. Cantor Fitzgerald upgraded shares of Arch Capital Group to a "hold" rating in a research report on Wednesday, August 13th. Jefferies Financial Group downgraded shares of Arch Capital Group from a "buy" rating to a "hold" rating and cut their price objective for the company from $106.00 to $100.00 in a research report on Tuesday, June 10th. Finally, Morgan Stanley set a $110.00 price objective on shares of Arch Capital Group and gave the company an "overweight" rating in a research report on Monday, May 19th. Nine investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, Arch Capital Group presently has a consensus rating of "Moderate Buy" and an average target price of $111.27.

Arch Capital Group Trading Down 2.4%

Shares of Arch Capital Group stock traded down $2.13 during trading on Tuesday, hitting $87.74. The stock had a trading volume of 919,254 shares, compared to its average volume of 1,915,459. The stock has a 50 day simple moving average of $89.84 and a 200 day simple moving average of $91.36. The company has a market capitalization of $32.74 billion, a PE ratio of 9.05, a P/E/G ratio of 5.65 and a beta of 0.51. 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 1 year low of $82.49 and a 1 year 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 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.28. The business had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.29 billion. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. During the same period last year, the firm posted $2.57 earnings per share. On average, research analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

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.