Artisan Partners Limited Partnership Lowers Holdings in Arch Capital Group Ltd. $ACGL

Key Points

• Artisan Partners reduced its stake in Arch Capital Group by 1.7% in the fourth quarter, but the firm still owns 23.25 million shares worth about $2.23 billion, making ACGL its largest holding.
• Arch Capital has continued to attract heavy institutional ownership, with 89.07% of the stock held by institutions. Several other funds recently added to or initiated positions in the insurer.
• The stock was trading around $92.58, and analysts remain cautious overall: eight rate it Buy, seven Hold, and one Sell, for a consensus rating of Hold with an average target price of $106.81.

Artisan Partners Limited Partnership trimmed its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,247,700 shares of the insurance provider's stock after selling 390,406 shares during the period. Arch Capital Group makes up approximately 3.3% of Artisan Partners Limited Partnership's holdings, making the stock its largest holding. Artisan Partners Limited Partnership owned approximately 6.41% of Arch Capital Group worth $2,229,919,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its holdings in shares of Arch Capital Group by 157.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider's stock worth $65,000 after buying an additional 412 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Arch Capital Group in the 2nd quarter worth approximately $253,000. CW Advisors LLC raised its holdings in shares of Arch Capital Group by 6.5% in the 2nd quarter. CW Advisors LLC now owns 3,098 shares of the insurance provider's stock worth $282,000 after buying an additional 189 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Arch Capital Group in the 2nd quarter worth approximately $667,000. Finally, Cerity Partners LLC raised its holdings in shares of Arch Capital Group by 11.6% in the 2nd quarter. Cerity Partners LLC now owns 47,486 shares of the insurance provider's stock worth $4,324,000 after buying an additional 4,933 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Arch Capital Group

In other news, Director Daniel Joseph Houston acquired 5,300 shares of Arch Capital Group stock in a transaction on Thursday, April 30th. The shares were purchased at an average price of $94.08 per share, with a total value of $498,624.00. Following the acquisition, the director owned 9,915 shares in the company, valued at $932,803.20. This represents a 114.84% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brian S. Posner sold 3,000 shares of the company's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total value of $58,980.00. Additional details regarding this sale are available in the official SEC disclosure. 3.30% of the stock is currently owned by corporate insiders.

Arch Capital Group Stock Up 1.2%

Shares of ACGL opened at $92.58 on Wednesday. The company has a market capitalization of $32.35 billion, a P/E ratio of 7.11, a PEG ratio of 4.58 and a beta of 0.32. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.55 and a quick ratio of 0.55. Arch Capital Group Ltd. has a one year low of $82.44 and a one year high of $103.39. The business's 50 day simple moving average is $94.26 and its 200-day simple moving average is $95.00.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share (EPS) for the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%.The firm had revenue of $4.52 billion for the quarter. As a group, sell-side analysts predict that Arch Capital Group Ltd. will post 9.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. UBS Group reissued a "buy" rating and issued a $114.00 target price (up from $113.00) on shares of Arch Capital Group in a report on Tuesday, February 17th. Morgan Stanley set a $105.00 target price on Arch Capital Group in a report on Friday, May 1st. Cantor Fitzgerald reissued a "neutral" rating and issued a $100.00 target price (up from $97.00) on shares of Arch Capital Group in a report on Tuesday, February 17th. Keefe, Bruyette & Woods reduced their target price on Arch Capital Group from $105.00 to $102.00 and set a "market perform" rating on the stock in a report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. reduced their target price on Arch Capital Group from $117.00 to $110.00 and set a "neutral" rating on the stock in a report on Monday, April 20th. Eight research 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. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $106.81.

Arch Capital Group Company Profile

Arch Capital Group Ltd. NASDAQ: ACGL is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch's product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.