FPR Partners LLC Sells 200,000 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• FPR Partners LLC has decreased its position in Arch Capital Group Ltd. by 30%, selling 200,000 shares during the first quarter and maintaining 466,105 shares, which now constitutes 7.7% of its portfolio.
• In contrast, JPMorgan Chase & Co. increased its stake in Arch Capital Group by 30.5%, now owning approximately 7.47 million shares valued at around $718.5 million.
• Analysts have mixed ratings on Arch Capital Group, with ten analysts rating it a "Buy" and seven a "Hold," while the consensus price target is set at $112.13.

FPR Partners LLC decreased its position in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 30.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 466,105 shares of the insurance provider's stock after selling 200,000 shares during the quarter. Arch Capital Group accounts for approximately 7.7% of FPR Partners LLC's holdings, making the stock its 8th largest position. FPR Partners LLC owned 0.12% of Arch Capital Group worth $44,830,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Capital A Wealth Management LLC bought a new stake in shares of Arch Capital Group in the 4th quarter worth approximately $25,000. Meeder Asset Management Inc. lifted its holdings in shares of Arch Capital Group by 116.3% in the 1st quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock worth $27,000 after purchasing an additional 150 shares during the last quarter. Bartlett & CO. Wealth Management LLC bought a new stake in shares of Arch Capital Group in the 1st quarter worth approximately $27,000. Wayfinding Financial LLC bought a new stake in shares of Arch Capital Group in the 1st quarter worth approximately $31,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Arch Capital Group in the 1st quarter worth approximately $37,000. Institutional investors own 89.07% of the company's stock.

Arch Capital Group Price Performance

Shares of NASDAQ ACGL traded up $0.87 during mid-day trading on Wednesday, reaching $91.77. The company had a trading volume of 229,922 shares, compared to its average volume of 1,922,982. The company has a 50-day moving average price of $89.48 and a two-hundred day moving average price of $91.18. The stock has a market cap of $34.25 billion, a PE ratio of 9.48, a P/E/G ratio of 5.63 and a beta of 0.49. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16. Arch Capital Group Ltd. has a 1-year low of $82.49 and a 1-year high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.30 by $0.28. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%.The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the company posted $2.57 earnings per share. On average, equities analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ACGL shares. UBS Group reissued a "buy" rating and issued a $118.00 price target (down previously from $124.00) on shares of Arch Capital Group in a report on Monday, August 4th. Keefe, Bruyette & Woods raised their price target on Arch Capital Group from $102.00 to $103.00 and gave the stock a "market perform" rating in a report on Thursday, August 14th. Cowen reaffirmed a "buy" rating on shares of Arch Capital Group in a research note on Monday, August 4th. JMP Securities reaffirmed a "market outperform" rating and set a $125.00 target price on shares of Arch Capital Group in a research note on Wednesday, April 30th. Finally, Citigroup began coverage on Arch Capital Group in a research note on Wednesday, August 13th. They set a "buy" rating and a $113.00 target price on the stock. Nine analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, Arch Capital Group presently has an average rating of "Moderate Buy" and a consensus target price of $111.27.

Insider Buying and Selling at Arch Capital Group

In related news, insider Maamoun Rajeh sold 10,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total transaction of $941,500.00. Following the sale, the insider directly owned 433,589 shares in the company, valued at $40,822,404.35. This represents a 2.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.10% of the company's stock.

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.