Wellington Management Group LLP Sells 457,964 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• Wellington Management Group LLP reduced its stake in Arch Capital Group by 18.1%, selling 457,964 shares, and now holds approximately 0.55% of the company valued at $199.2 million.
• Arch Capital Group reported a quarterly earnings per share (EPS) of $2.58, exceeding analysts' expectations of $2.30, with a revenue of $4.35 billion.
• Analysts currently give Arch Capital Group a consensus rating of "Moderate Buy" with a price target of $112.13, supported by multiple upgrades and buy ratings from various research firms.

Wellington Management Group LLP reduced its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 18.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,071,487 shares of the insurance provider's stock after selling 457,964 shares during the period. Wellington Management Group LLP owned approximately 0.55% of Arch Capital Group worth $199,236,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Jump Financial LLC increased its holdings in Arch Capital Group by 6.9% in the fourth quarter. Jump Financial LLC now owns 3,384 shares of the insurance provider's stock valued at $313,000 after buying an additional 218 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Arch Capital Group by 8.2% during the 4th quarter. NewEdge Advisors LLC now owns 15,633 shares of the insurance provider's stock worth $1,444,000 after purchasing an additional 1,183 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Arch Capital Group by 2.2% during the 4th quarter. Hsbc Holdings PLC now owns 475,852 shares of the insurance provider's stock worth $43,818,000 after purchasing an additional 10,198 shares in the last quarter. Dark Forest Capital Management LP increased its stake in shares of Arch Capital Group by 107.7% during the 4th quarter. Dark Forest Capital Management LP now owns 5,771 shares of the insurance provider's stock worth $533,000 after purchasing an additional 2,992 shares in the last quarter. Finally, Coppell Advisory Solutions LLC increased its stake in shares of Arch Capital Group by 281.3% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,037 shares of the insurance provider's stock worth $95,000 after purchasing an additional 765 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ACGL shares. Citigroup initiated coverage on shares of Arch Capital Group in a research note on Wednesday, August 13th. They set a "buy" rating and a $113.00 price objective for the company. Cantor Fitzgerald raised shares of Arch Capital Group to a "hold" rating in a research note on Wednesday, August 13th. Morgan Stanley set a $110.00 target price on shares of Arch Capital Group and gave the stock an "overweight" rating in a research note on Monday, May 19th. Cowen reaffirmed a "buy" rating on shares of Arch Capital Group in a research note on Monday, August 4th. Finally, UBS Group reaffirmed a "buy" rating and issued a $118.00 target price (down from $124.00) on shares of Arch Capital Group in a research note on Monday, August 4th. Nine equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $111.27.

Arch Capital Group Price Performance

ACGL traded down $1.37 during trading on Monday, hitting $92.04. 374,516 shares of the stock traded hands, compared to its average volume of 1,921,441. 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 cap of $34.35 billion, a price-to-earnings ratio of 9.50, a PEG ratio of 5.72 and a beta of 0.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56. The business has a 50 day moving average price of $89.45 and a 200 day moving average price of $91.19.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share for the quarter, beating 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 analyst estimates of $4.29 billion. During the same quarter last year, the business posted $2.57 earnings per share. 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., 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.