Cresset Asset Management LLC Trims Stake in Arch Capital Group Ltd. $ACGL

Key Points

• Cresset Asset Management LLC has reduced its holdings in Arch Capital Group by 32.1%, now owning 10,553 shares valued at approximately $1.02 million.
• Arch Capital Group reported earnings of $2.58 EPS for the most recent quarter, exceeding expectations and showing a net margin of 19.49%.
• Analysts maintain a consensus rating of "Moderate Buy" for Arch Capital Group, with a target price averaging around $112.13, amidst recent updates from various financial institutions.

Cresset Asset Management LLC trimmed its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 32.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,553 shares of the insurance provider's stock after selling 4,998 shares during the quarter. Cresset Asset Management LLC's holdings in Arch Capital Group were worth $1,015,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ACGL. JPMorgan Chase & Co. raised its stake in shares of Arch Capital Group by 30.5% in the 1st quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider's stock valued at $718,522,000 after acquiring an additional 1,743,945 shares during the period. Nuveen Asset Management LLC increased its holdings in Arch Capital Group by 1.9% in the 4th quarter. Nuveen Asset Management LLC now owns 4,888,997 shares of the insurance provider's stock valued at $451,499,000 after purchasing an additional 93,226 shares during the last quarter. Northern Trust Corp raised its position in Arch Capital Group by 11.3% in the fourth quarter. Northern Trust Corp now owns 4,860,804 shares of the insurance provider's stock valued at $448,895,000 after purchasing an additional 495,262 shares during the period. Madison Asset Management LLC lifted its stake in Arch Capital Group by 9.0% during the first quarter. Madison Asset Management LLC now owns 4,837,602 shares of the insurance provider's stock worth $465,281,000 after purchasing an additional 397,857 shares in the last quarter. Finally, Egerton Capital UK LLP boosted its position in shares of Arch Capital Group by 8.5% during the first quarter. Egerton Capital UK LLP now owns 4,325,217 shares of the insurance provider's stock worth $415,999,000 after buying an additional 337,245 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Arch Capital Group Stock Down 0.1%

Shares of ACGL stock traded down $0.13 on Friday, reaching $93.41. 1,820,208 shares of the stock were exchanged, compared to its average volume of 2,234,580. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16. The business's 50 day moving average price is $89.45 and its 200 day moving average price is $91.21. The company has a market capitalization of $34.86 billion, a price-to-earnings ratio of 9.64, a PEG ratio of 5.72 and a beta of 0.49. Arch Capital Group Ltd. has a twelve month low of $82.49 and a twelve month high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates of $2.30 by $0.28. The company had revenue of $4.35 billion for the quarter, compared to analysts' expectations 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 period last year, the firm earned $2.57 earnings per share. As a group, sell-side analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods boosted their price objective on Arch Capital Group from $102.00 to $103.00 and gave the company a "market perform" rating in a report on Thursday, August 14th. Jefferies Financial Group downgraded Arch Capital Group from a "buy" rating to a "hold" rating and dropped their target price for the company from $106.00 to $100.00 in a research report on Tuesday, June 10th. UBS Group reiterated a "buy" rating and set a $118.00 price target (down from $124.00) on shares of Arch Capital Group in a research note on Monday, August 4th. Cowen restated a "buy" rating on shares of Arch Capital Group in a report on Monday, August 4th. Finally, Wells Fargo & Company decreased their price target on shares of Arch Capital Group from $110.00 to $107.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Nine analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $111.27.

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.