Goldman Sachs Group Inc. Has $221.95 Million Stock Position in Arch Capital Group Ltd. $ACGL

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Arch Capital Group Ltd. by 18.0%, owning about 2.3 million shares worth approximately $221.95 million after selling 505,838 shares.
• Arch Capital Group reported an EPS of $2.58 for the recent quarter, exceeding analysts' expectations of $2.30, with a total revenue of $4.35 billion.
• There is strong institutional interest in Arch Capital Group, with 89.07% of the stock currently held by institutional investors and hedge funds.

Goldman Sachs Group Inc. reduced its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 18.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,307,670 shares of the insurance provider's stock after selling 505,838 shares during the period. Goldman Sachs Group Inc. owned about 0.62% of Arch Capital Group worth $221,952,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Arch Capital Group by 14.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,804 shares of the insurance provider's stock valued at $4,924,000 after acquiring an additional 6,406 shares during the last quarter. DAVENPORT & Co LLC bought a new stake in Arch Capital Group during the 1st quarter worth approximately $251,000. D.A. Davidson & CO. increased 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 valued at $4,381,000 after purchasing an additional 4,460 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in Arch Capital Group by 24.7% in the 1st quarter. Crossmark Global Holdings Inc. now owns 37,625 shares of the insurance provider's stock valued at $3,619,000 after purchasing an additional 7,448 shares during the last quarter. Finally, World Investment Advisors raised its position in Arch Capital Group by 114.1% in the 1st quarter. World Investment Advisors now owns 6,321 shares of the insurance provider's stock valued at $608,000 after purchasing an additional 3,369 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Arch Capital Group Trading Up 1.1%

Shares of NASDAQ ACGL opened at $90.60 on Thursday. The company's 50 day simple moving average is $89.71 and its 200 day simple moving average is $91.34. Arch Capital Group Ltd. has a fifty-two week low of $82.49 and a fifty-two week high of $116.47. The firm has a market capitalization of $33.81 billion, a P/E ratio of 9.35, a P/E/G ratio of 5.49 and a beta of 0.51. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56.

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

Wall Street Analyst Weigh In

ACGL has been the topic of several research analyst reports. Cantor Fitzgerald upgraded Arch Capital Group to a "hold" rating in a report on Wednesday, August 13th. UBS Group restated a "buy" rating and issued a $118.00 price objective (down previously from $124.00) on shares of Arch Capital Group in a research report on Monday, August 4th. Morgan Stanley set a $110.00 target price on shares of Arch Capital Group and gave the stock an "overweight" rating in a research report on Monday, May 19th. Wells Fargo & Company lowered 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 report on Thursday, July 31st. Finally, Citigroup started coverage on shares of Arch Capital Group in a research report on Wednesday, August 13th. They issued a "buy" rating and a $113.00 price objective for the company. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $111.27.

Insiders Place Their Bets

In other Arch Capital Group news, insider Maamoun Rajeh sold 10,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $94.15, for a total value of $941,500.00. Following the transaction, the insider owned 433,589 shares of the company's stock, valued at approximately $40,822,404.35. This represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.20% of the company's stock.

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.

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