Arch Capital Group Ltd. $ACGL Stock Sold by Schwartz Investment Counsel Inc.

Key Points

• Schwartz Investment Counsel cut its Arch Capital Group stake by 84.6% in the third quarter, selling 110,000 shares and retaining 20,000 shares valued at approximately $1.85 million.
• Institutional ownership remains high at 89.07%, with several investors increasing their positions, including Citizens Financial Group, which raised its stake by 37.3%.
• Arch Capital reported quarterly EPS of $2.67, beating estimates of $2.31, while revenue of $4.66 billion exceeded forecasts. Analysts maintain a consensus “Hold” rating with an average price target of $108.39.

Schwartz Investment Counsel Inc. reduced its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 84.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,000 shares of the insurance provider's stock after selling 110,000 shares during the quarter. Schwartz Investment Counsel Inc.'s holdings in Arch Capital Group were worth $1,847,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Center for Financial Planning Inc. acquired a new stake in Arch Capital Group in the third quarter valued at $84,000. Sunesis Advisors LLC purchased a new stake in shares of Arch Capital Group during the 3rd quarter worth $418,000. Apollon Wealth Management LLC grew its stake in shares of Arch Capital Group by 15.5% during the 3rd quarter. Apollon Wealth Management LLC now owns 8,155 shares of the insurance provider's stock worth $753,000 after purchasing an additional 1,096 shares during the period. Signaturefd LLC grew its stake in shares of Arch Capital Group by 2.8% during the 3rd quarter. Signaturefd LLC now owns 5,186 shares of the insurance provider's stock worth $479,000 after purchasing an additional 140 shares during the period. Finally, Citizens Financial Group Inc. RI grew its stake in shares of Arch Capital Group by 37.3% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 22,542 shares of the insurance provider's stock worth $2,082,000 after purchasing an additional 6,126 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $100.34 on Wednesday. The stock has a fifty day moving average price of $97.62 and a 200 day moving average price of $96.63. The stock has a market cap of $34.24 billion, a PE ratio of 7.85 and a beta of 0.28. Arch Capital Group Ltd. has a 1 year low of $82.44 and a 1 year high of $107.08.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its earnings results on Tuesday, October 27th. The insurance provider reported $2.67 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.36. The firm had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same period last year, the company posted $2.77 EPS. As a group, equities research analysts predict that Arch Capital Group Ltd. will post 9.77 earnings per share for the current year.

Insider Activity

In related news, CFO Francois Morin sold 11,010 shares of the business's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $99.32, for a total value of $1,093,513.20. Following the sale, the chief financial officer directly owned 184,826 shares in the company, valued at $18,356,918.32. The trade was a 5.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ACGL. JPMorgan Chase & Co. cut their price target on shares of Arch Capital Group from $118.00 to $113.00 and set a "neutral" rating for the company in a report on Friday, October 9th. Weiss Ratings raised shares of Arch Capital Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, October 9th. Royal Bank Of Canada reissued an "outperform" rating and set a $120.00 price objective (up from $115.00) on shares of Arch Capital Group in a report on Thursday, July 30th. Citigroup restated a "market outperform" rating on shares of Arch Capital Group in a research report on Wednesday, July 29th. Finally, Atlantic Securities set a $126.00 target price on shares of Arch Capital Group in a report on Wednesday, July 15th. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $108.39.

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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