Arch Capital Group Ltd. $ACGL Shares Sold by Goldman Sachs Group Inc.

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. trimmed its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 18.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,307,670 shares of the insurance provider's stock after selling 505,838 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.62% of Arch Capital Group worth $221,952,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Harbour Investments Inc. increased its holdings in shares of Arch Capital Group by 8.4% during the 1st quarter. Harbour Investments Inc. now owns 1,431 shares of the insurance provider's stock valued at $138,000 after purchasing an additional 111 shares in the last quarter. Resonant Capital Advisors LLC increased its holdings in shares of Arch Capital Group by 1.7% during the 1st quarter. Resonant Capital Advisors LLC now owns 6,672 shares of the insurance provider's stock valued at $642,000 after purchasing an additional 113 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Arch Capital Group by 0.9% in the 1st quarter. Venturi Wealth Management LLC now owns 13,228 shares of the insurance provider's stock worth $1,272,000 after acquiring an additional 115 shares in the last quarter. Hemington Wealth Management increased its holdings in Arch Capital Group by 27.7% in the 1st quarter. Hemington Wealth Management now owns 548 shares of the insurance provider's stock worth $52,000 after acquiring an additional 119 shares in the last quarter. Finally, Horizon Advisory Services Inc. increased its holdings in Arch Capital Group by 4.2% in the 1st quarter. Horizon Advisory Services Inc. now owns 2,996 shares of the insurance provider's stock worth $288,000 after acquiring an additional 120 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Arch Capital Group news, insider Maamoun Rajeh sold 10,000 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were 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 $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 is available through this link. 4.10% of the stock is owned by insiders.

Arch Capital Group Trading Down 2.8%

Shares of ACGL stock traded down $2.48 on Tuesday, hitting $87.38. 2,710,454 shares of the stock traded hands, compared to its average volume of 1,659,970. The firm's 50-day moving average price is $89.79 and its two-hundred day moving average price is $91.33. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market capitalization of $32.61 billion, a PE ratio of 9.02, a PEG ratio of 5.50 and a beta of 0.51. Arch Capital Group Ltd. has a twelve month low of $82.49 and a twelve month high of $116.47.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ACGL. Wells Fargo & Company cut 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. 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. Citigroup began coverage on shares of Arch Capital Group in a report on Wednesday, August 13th. They issued a "buy" rating and a $113.00 price target for the company. Jefferies Financial Group lowered shares of Arch Capital Group from a "buy" rating to a "hold" rating and cut their price target for the stock from $106.00 to $100.00 in a report on Tuesday, June 10th. Finally, Cowen reaffirmed a "buy" rating on shares of Arch Capital Group in a report on Monday, August 4th. Nine analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $111.27.

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.