Corient Private Wealth LP Sells 11,747 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• Corient Private Wealth reduced its Arch Capital Group stake by 22.9% in the second quarter, selling 11,747 shares and retaining 39,628 shares valued at approximately $3.85 million. Institutional investors collectively own 89.07% of ACGL.
• Analyst sentiment is mixed, with seven Buy, six Hold and one Sell rating. The stock has a consensus rating of Hold and an average price target of $110.82.
• Arch Capital reported quarterly earnings of $2.56 per share, beating estimates of $2.47, while revenue of $4.67 billion exceeded expectations. ACGL recently traded at $96.89, near its 50-day average of $99.36.

Corient Private Wealth LP cut its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 22.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,628 shares of the insurance provider's stock after selling 11,747 shares during the quarter. Corient Private Wealth LP's holdings in Arch Capital Group were worth $3,846,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ACGL. Legal & General Group Plc raised its position in shares of Arch Capital Group by 4.3% in the fourth quarter. Legal & General Group Plc now owns 2,944,169 shares of the insurance provider's stock worth $282,405,000 after buying an additional 121,090 shares in the last quarter. National Pension Service grew its position in Arch Capital Group by 8.5% during the fourth quarter. National Pension Service now owns 683,272 shares of the insurance provider's stock worth $65,539,000 after buying an additional 53,661 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Arch Capital Group by 295.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 50,073 shares of the insurance provider's stock worth $4,860,000 after acquiring an additional 37,416 shares during the last quarter. Allstate Corp increased its stake in Arch Capital Group by 113.8% in the 4th quarter. Allstate Corp now owns 27,407 shares of the insurance provider's stock worth $2,629,000 after acquiring an additional 14,586 shares during the last quarter. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Arch Capital Group in the 4th quarter valued at about $6,523,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Wall Street Analyst Weigh In

ACGL has been the topic of several research analyst reports. Keefe, Bruyette & Woods decreased their price objective on shares of Arch Capital Group from $102.00 to $99.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 8th. Wells Fargo & Company boosted their price target on shares of Arch Capital Group from $114.00 to $117.00 and gave the stock an "overweight" rating in a research note on Thursday, July 30th. Atlantic Securities set a $126.00 price target on shares of Arch Capital Group in a report on Wednesday, July 15th. Morgan Stanley raised their price objective on shares of Arch Capital Group from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, July 6th. Finally, Mizuho set a $100.00 price objective on shares of Arch Capital Group and gave the stock a "neutral" rating in a report on Wednesday. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Arch Capital Group presently has a consensus rating of "Hold" and an average target price of $110.82.

Insider Buying and Selling at Arch Capital Group

In other news, CFO Francois Morin sold 11,010 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief financial officer owned 184,826 shares in the company, valued at approximately $18,356,918.32. This trade represents a 5.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.30% of the company's stock.

Arch Capital Group Trading Up 0.2%

ACGL stock opened at $96.89 on Friday. The company has a market capitalization of $33.06 billion, a PE ratio of 7.58, a price-to-earnings-growth ratio of 4.77 and a beta of 0.30. Arch Capital Group Ltd. has a one year low of $82.44 and a one year high of $107.08. The company's 50 day moving average price is $99.36 and its two-hundred day moving average price is $96.63. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.57 and a current ratio of 0.57.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its earnings results on Tuesday, July 28th. The insurance provider reported $2.56 EPS for the quarter, beating the consensus estimate of $2.47 by $0.09. The company had revenue of $4.67 billion for the quarter, compared to analyst estimates 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 last year, the firm earned $2.58 EPS. As a group, analysts predict that Arch Capital Group Ltd. will post 9.44 earnings per share for the current fiscal year.

About Arch Capital Group

Arch Capital Group Ltd. is a Bermuda-based insurance and financial services company that operates through a global network of subsidiaries. Listed on the Nasdaq under the symbol ACGL, the company provides specialty insurance, reinsurance and mortgage insurance products to businesses, institutions and individuals.

Arch's insurance operations offer coverage across property, casualty and specialty lines, including professional liability, marine, aviation, energy, construction, accident and health, and other complex or customized risks.

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