First American Trust FSB Cuts Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Key Points

• First American Trust FSB significantly reduced its holdings in Arch Capital Group Ltd. by 96.8%, leaving it with only 2,468 shares worth $237,000 after selling 73,509 shares in Q1.
• Several institutional investors increased their stakes in Arch Capital Group during the same quarter, with Mirae Asset Global Investments raising its stake by 14.1% to 51,804 shares valued at $4.92 million.
• Arch Capital's most recent earnings report showed $2.58 EPS, exceeding analysts' expectations, while the stock currently has a consensus rating of "Moderate Buy" and a target price of $113.07.

First American Trust FSB cut its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 96.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,468 shares of the insurance provider's stock after selling 73,509 shares during the quarter. First American Trust FSB's holdings in Arch Capital Group were worth $237,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Arch Capital Group by 14.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,804 shares of the insurance provider's stock worth $4,924,000 after buying an additional 6,406 shares during the period. DAVENPORT & Co LLC acquired a new position in Arch Capital Group during the 1st quarter worth about $251,000. D.A. Davidson & CO. lifted its holdings in Arch Capital Group by 10.9% during the 1st quarter. D.A. Davidson & CO. now owns 45,552 shares of the insurance provider's stock worth $4,381,000 after buying an additional 4,460 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in Arch Capital Group by 24.7% during the 1st quarter. Crossmark Global Holdings Inc. now owns 37,625 shares of the insurance provider's stock worth $3,619,000 after buying an additional 7,448 shares during the period. Finally, World Investment Advisors raised its position in shares of Arch Capital Group by 114.1% in the 1st quarter. World Investment Advisors now owns 6,321 shares of the insurance provider's stock worth $608,000 after acquiring an additional 3,369 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ACGL has been the subject of several research analyst reports. Jefferies Financial Group lowered Arch Capital Group from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $106.00 to $100.00 in a research report on Tuesday, June 10th. Citigroup initiated coverage on Arch Capital Group in a research report on Wednesday. They issued a "buy" rating and a $113.00 price objective for the company. Cantor Fitzgerald raised Arch Capital Group to a "hold" rating in a research report on Wednesday. Keefe, Bruyette & Woods lifted their price objective on Arch Capital Group from $102.00 to $103.00 and gave the stock a "market perform" rating in a research report on Thursday. Finally, Wells Fargo & Company lowered their price objective on 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. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $112.13.

Arch Capital Group Stock Down 0.0%

ACGL stock traded down $0.05 during mid-day trading on Friday, reaching $91.42. 1,049,837 shares of the company traded hands, compared to its average volume of 1,929,157. The stock has a market cap of $34.12 billion, a price-to-earnings ratio of 9.43, a P/E/G ratio of 5.52 and a beta of 0.49. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16. Arch Capital Group Ltd. has a fifty-two week low of $82.49 and a fifty-two week high of $116.47. The firm's 50 day moving average price is $89.40 and its 200 day moving average price is $91.29.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 in the previous year, the business earned $2.57 EPS. As a group, equities research analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Arch Capital Group Company Profile

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.