Cookson Peirce & Co. Inc. Has $585,000 Holdings in Arch Capital Group Ltd. $ACGL

Key Points

• Cookson Peirce & Co. Inc. has significantly reduced its stake in Arch Capital Group Ltd. by 97.3%, now owning only 6,084 shares after selling 216,551 shares in the first quarter.
• Major institutional investors such as Townsquare Capital LLC and Synovus Financial Corp have increased their holdings in Arch Capital Group, indicating continued interest in the company.
• Arch Capital Group reported $2.58 earnings per share, exceeding analysts' expectations, with a revenue of $4.35 billion for the quarter, also beating estimates.

Cookson Peirce & Co. Inc. reduced its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 97.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,084 shares of the insurance provider's stock after selling 216,551 shares during the period. Cookson Peirce & Co. Inc.'s holdings in Arch Capital Group were worth $585,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of ACGL. Capital A Wealth Management LLC acquired a new stake in shares of Arch Capital Group in the fourth quarter valued at about $25,000. Meeder Asset Management Inc. lifted its position in shares of Arch Capital Group by 116.3% during the 1st quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock worth $27,000 after purchasing an additional 150 shares during the last quarter. Bartlett & CO. Wealth Management LLC bought a new stake in Arch Capital Group during the 1st quarter valued at approximately $27,000. Wayfinding Financial LLC acquired a new stake in Arch Capital Group in the 1st quarter valued at approximately $31,000. Finally, Zions Bancorporation National Association UT bought a new position in Arch Capital Group in the 1st quarter worth approximately $37,000. Institutional investors own 89.07% of the company's stock.

Arch Capital Group Price Performance

ACGL traded up $1.00 during midday trading on Wednesday, reaching $92.84. 1,190,167 shares of the company's stock were exchanged, compared to its average volume of 2,388,208. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16. The business has a 50-day simple moving average of $89.37 and a two-hundred day simple moving average of $91.21. The firm has a market capitalization of $34.65 billion, a price-to-earnings ratio of 9.58, a price-to-earnings-growth ratio of 5.62 and a beta of 0.49. Arch Capital Group Ltd. has a one year low of $82.49 and a one year high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.30 by $0.28. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.29 billion. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%.During the same quarter last year, the company earned $2.57 EPS. As a group, research analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. UBS Group reissued a "buy" rating and issued a $118.00 price objective (down from $124.00) on shares of Arch Capital Group in a research report on Monday, August 4th. Cowen reiterated a "buy" rating on shares of Arch Capital Group in a research note on Monday, August 4th. Cantor Fitzgerald raised shares of Arch Capital Group to a "hold" rating in a report on Wednesday, August 13th. Citigroup began coverage on shares of Arch Capital Group in a report on Wednesday, August 13th. They set a "buy" rating and a $113.00 price objective on the stock. Finally, Jefferies Financial Group lowered 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. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $112.13.

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.