Arch Capital Group Ltd. $ACGL Stock Sold by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners cut its Arch Capital stake by 87.2% in the third quarter, selling 30,603 shares and retaining 4,496 shares worth approximately $415,000. Institutional investors collectively own 89.07% of ACGL.
• Arch Capital reported quarterly earnings of $2.56 per share, exceeding the $2.47 analyst consensus, while revenue of $4.67 billion also surpassed expectations.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $108.39; targets range from $95 to $120, while CFO Francois Morin separately sold 11,010 shares.

Curated Wealth Partners LLC reduced its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 87.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,496 shares of the insurance provider's stock after selling 30,603 shares during the period. Curated Wealth Partners LLC's holdings in Arch Capital Group were worth $415,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ACGL. Horizons Wealth Management acquired a new position in Arch Capital Group in the 3rd quarter valued at about $25,000. Torren Management LLC raised its position in shares of Arch Capital Group by 66.9% during the 2nd quarter. Torren Management LLC now owns 292 shares of the insurance provider's stock valued at $28,000 after buying an additional 117 shares during the period. MidFirst Bank purchased a new stake in shares of Arch Capital Group during the 4th quarter valued at approximately $46,000. Continuum Advisory LLC purchased a new stake in shares of Arch Capital Group during the 2nd quarter valued at approximately $46,000. Finally, Westpac Banking Corp acquired a new position in Arch Capital Group in the first quarter valued at approximately $69,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Arch Capital Group Stock Performance

NASDAQ:ACGL opened at $101.27 on Friday. The firm's fifty day moving average price is $97.16 and its 200 day moving average price is $96.71. Arch Capital Group Ltd. has a 1-year low of $82.44 and a 1-year high of $107.08. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a market cap of $34.56 billion, a price-to-earnings ratio of 7.92, a price-to-earnings-growth ratio of 2.99 and a beta of 0.28.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $2.56 EPS for the quarter, topping analysts' consensus estimates of $2.47 by $0.09. The company had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.36 billion. Arch Capital Group had a net margin of 24.40% and a return on equity of 17.06%. During the same quarter in the prior year, the firm earned $2.58 EPS. On average, sell-side analysts expect that Arch Capital Group Ltd. will post 9.70 EPS for the current year.

Analyst Upgrades and Downgrades

ACGL has been the topic of several research reports. Wells Fargo & Company reissued an "overweight" rating and set a $107.00 price target (down from $117.00) on shares of Arch Capital Group in a research report on Monday. Morgan Stanley set a $100.00 target price on shares of Arch Capital Group and gave the stock an "equal weight" rating in a research note on Tuesday. Mizuho set a $100.00 target price on shares of Arch Capital Group and gave the stock a "neutral" rating in a report on Wednesday, September 16th. Keefe, Bruyette & Woods reduced their target price on shares of Arch Capital Group from $99.00 to $95.00 and set a "market perform" rating on the stock in a report on Monday, October 12th. Finally, UBS Group reissued a "buy" rating and issued a $120.00 price target (up from $114.00) on shares of Arch Capital Group in a research report on Wednesday, July 8th. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $108.39.

Insider Transactions at Arch Capital Group

In related news, CFO Francois Morin sold 11,010 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $99.32, for a total transaction of $1,093,513.20. Following the completion of the transaction, the chief financial officer directly owned 184,826 shares of the company's stock, valued at $18,356,918.32. This represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 3.30% of the stock is owned by corporate insiders.

Arch Capital Group Profile

Arch Capital Group Ltd. is a Bermuda-based insurance, reinsurance and mortgage insurance company whose shares trade on the Nasdaq under the symbol ACGL. The company was established in 1995 and has developed into a global provider of specialty risk-management products and services.

Through its insurance operations, Arch offers property, casualty, specialty, and accident and health coverage to businesses and other policyholders. Its reinsurance operations provide coverage and risk-transfer solutions to insurance companies across a range of property and casualty lines.

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