Geode Capital Management LLC Trims Stock Position in Arch Capital Group Ltd. $ACGL

Key Points

• Geode Capital Management trimmed its Arch Capital Group stake by 2.1% in the fourth quarter, selling 227,141 shares and leaving it with 10.47 million shares valued at about $1.0 billion.
• Institutional ownership remains heavy, with hedge funds and other institutions holding 89.07% of Arch Capital’s stock. Several firms, including First Trust Advisors and Marshall Wace, significantly increased their positions during the period.
• Arch Capital shares were down 1.5% to $89.34, while analysts are split on the stock: the consensus rating is Hold with an average price target of $106.32. The company also reported quarterly EPS of $2.50 on revenue of $4.52 billion.

Geode Capital Management LLC lowered its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,466,550 shares of the insurance provider's stock after selling 227,141 shares during the period. Geode Capital Management LLC owned 2.89% of Arch Capital Group worth $1,000,365,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ACGL. First Trust Advisors LP grew its stake in Arch Capital Group by 409.5% during the third quarter. First Trust Advisors LP now owns 2,835,648 shares of the insurance provider's stock valued at $257,278,000 after acquiring an additional 2,279,147 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Arch Capital Group by 289.1% during the second quarter. Ameriprise Financial Inc. now owns 1,368,648 shares of the insurance provider's stock valued at $124,615,000 after acquiring an additional 1,016,919 shares in the last quarter. Two Sigma Investments LP grew its stake in Arch Capital Group by 112.4% during the third quarter. Two Sigma Investments LP now owns 1,895,222 shares of the insurance provider's stock valued at $171,953,000 after acquiring an additional 1,003,004 shares in the last quarter. UBS Group AG grew its stake in Arch Capital Group by 56.4% during the third quarter. UBS Group AG now owns 2,738,518 shares of the insurance provider's stock valued at $248,466,000 after acquiring an additional 987,398 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in Arch Capital Group by 3,918.3% during the third quarter. Marshall Wace LLP now owns 934,287 shares of the insurance provider's stock valued at $84,768,000 after acquiring an additional 911,036 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insider Buying and Selling at Arch Capital Group

In other Arch Capital Group news, Director Daniel Joseph Houston acquired 5,300 shares of the stock in a transaction dated Thursday, April 30th. The stock was purchased at an average cost of $94.08 per share, for a total transaction of $498,624.00. Following the acquisition, the director owned 9,915 shares in the company, valued at $932,803.20. The trade was a 114.84% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David Gansberg sold 5,907 shares of the company's 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 sale, the insider owned 336,559 shares of the company's stock, valued at $32,434,190.83. This represents a 1.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 32,837 shares of company stock valued at $2,766,946. Insiders own 3.30% of the company's stock.

Arch Capital Group Trading Down 1.5%

Shares of ACGL opened at $89.34 on Friday. The firm has a market cap of $31.21 billion, a price-to-earnings ratio of 6.86, a PEG ratio of 4.98 and a beta of 0.35. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.55 and a current ratio of 0.55. Arch Capital Group Ltd. has a fifty-two week low of $82.44 and a fifty-two week high of $103.39. The firm has a 50 day moving average price of $95.29 and a 200-day moving average price of $95.14.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share for the quarter. The firm had revenue of $4.52 billion during the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. As a group, equities research analysts forecast that Arch Capital Group Ltd. will post 9.29 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on ACGL. Barclays boosted their price objective on shares of Arch Capital Group from $104.00 to $106.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 8th. Keefe, Bruyette & Woods cut their price target on shares of Arch Capital Group from $105.00 to $102.00 and set a "market perform" rating for the company in a research note on Tuesday, May 5th. Wells Fargo & Company boosted their price target on shares of Arch Capital Group from $109.00 to $110.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. UBS Group reissued a "buy" rating and issued a $114.00 price target (up from $113.00) on shares of Arch Capital Group in a research note on Tuesday, February 17th. Finally, Mizuho cut their price target on shares of Arch Capital Group from $102.00 to $101.00 and set a "neutral" rating for the company in a research note on Tuesday, May 5th. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $106.32.

Arch Capital Group Company 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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