Crossmark Global Holdings Inc. Reduces Position in Arch Capital Group Ltd. $ACGL

Key Points

• Crossmark Global Holdings cut its Arch Capital Group stake by 35.8% in the fourth quarter, selling 13,085 shares and leaving it with 23,495 shares valued at about $2.25 million.
• Institutional ownership remains high, with hedge funds and other institutional investors holding 89.07% of Arch Capital Group shares. Several firms increased positions, including WCM Investment Management, JPMorgan Chase, and First Trust Advisors.
• Wall Street sentiment is mixed: analysts currently rate the stock a Hold overall, with a consensus price target of $106.32. The company recently reported quarterly EPS of $2.50 and revenue of $4.52 billion.

Crossmark Global Holdings Inc. decreased its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 35.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,495 shares of the insurance provider's stock after selling 13,085 shares during the period. Crossmark Global Holdings Inc.'s holdings in Arch Capital Group were worth $2,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. WCM Investment Management LLC raised its holdings in Arch Capital Group by 1.3% in the 3rd quarter. WCM Investment Management LLC now owns 13,525,402 shares of the insurance provider's stock worth $1,214,987,000 after purchasing an additional 171,693 shares during the period. JPMorgan Chase & Co. grew its holdings in Arch Capital Group by 4.6% during the third quarter. JPMorgan Chase & Co. now owns 8,190,927 shares of the insurance provider's stock valued at $743,168,000 after purchasing an additional 360,626 shares during the period. First Trust Advisors LP increased its position in Arch Capital Group by 409.5% in the third quarter. First Trust Advisors LP now owns 2,835,648 shares of the insurance provider's stock worth $257,278,000 after buying an additional 2,279,147 shares in the last quarter. UBS Group AG increased its position in Arch Capital Group by 56.4% in the third quarter. UBS Group AG now owns 2,738,518 shares of the insurance provider's stock worth $248,466,000 after buying an additional 987,398 shares in the last quarter. Finally, Marshfield Associates raised its stake in shares of Arch Capital Group by 5.5% in the third quarter. Marshfield Associates now owns 2,724,635 shares of the insurance provider's stock worth $247,206,000 after buying an additional 141,223 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Morgan Stanley set a $105.00 price objective on Arch Capital Group in a research report on Friday, May 1st. Wells Fargo & Company increased their target price on shares of Arch Capital Group from $109.00 to $110.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Weiss Ratings upgraded shares of Arch Capital Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, February 4th. JPMorgan Chase & Co. lowered their price target on shares of Arch Capital Group from $117.00 to $110.00 and set a "neutral" rating on the stock in a report on Monday, April 20th. Finally, Royal Bank Of Canada upped their price target on shares of Arch Capital Group from $108.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 11th. Eight research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued 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 price target of $106.32.

Arch Capital Group Stock Performance

NASDAQ:ACGL opened at $93.83 on Tuesday. The stock has a 50-day moving average price of $95.89 and a 200 day moving average price of $94.47. The stock has a market capitalization of $32.78 billion, a P/E ratio of 7.21, a P/E/G ratio of 5.15 and a beta of 0.35. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $103.39. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.15.

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

Insider Activity

In related news, Director Brian S. Posner sold 3,000 shares of the firm's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $17.11, for a total transaction of $51,330.00. Following the completion of the transaction, the director directly owned 2,000 shares of the company's stock, valued at approximately $34,220. This trade represents a 60.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David Gansberg sold 5,907 shares of Arch Capital Group stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $96.37, for a total transaction of $569,257.59. Following the completion of the sale, the insider owned 336,559 shares in the company, valued at approximately $32,434,190.83. This represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 78,267 shares of company stock valued at $7,291,637. Company insiders own 3.30% of the company's stock.

Arch Capital Group 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.

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