Great Lakes Advisors LLC Sells 2,754 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• Great Lakes Advisors LLC reduced its stake in Arch Capital Group Ltd. by 39.7%, selling 2,754 shares to lower its holdings to 4,178 shares worth $402,000.
• Arch Capital Group reported a quarterly earnings per share of $2.58, exceeding estimates, with revenue of $4.35 billion, compared to the anticipated $4.29 billion.
• The company is heavily owned by institutional investors, with 89.07% of its stock held by them, highlighting significant financial backing from the investment community.

Great Lakes Advisors LLC reduced its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 39.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,178 shares of the insurance provider's stock after selling 2,754 shares during the quarter. Great Lakes Advisors LLC's holdings in Arch Capital Group were worth $402,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC bought a new stake in Arch Capital Group during the fourth quarter worth $25,000. Meeder Asset Management Inc. raised its position in Arch Capital Group by 116.3% during the first quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock worth $27,000 after acquiring an additional 150 shares in the last quarter. Bartlett & CO. Wealth Management LLC bought a new stake in Arch Capital Group during the first quarter worth $27,000. Wayfinding Financial LLC bought a new stake in Arch Capital Group during the first quarter worth $31,000. Finally, Zions Bancorporation National Association UT bought a new stake in Arch Capital Group during the first quarter worth $37,000. 89.07% of the stock is owned by institutional investors.

Arch Capital Group Trading Down 0.0%

ACGL stock opened at $92.26 on Friday. 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 company's 50-day simple moving average is $89.83 and its 200 day simple moving average is $91.37. Arch Capital Group Ltd. has a 52 week low of $82.49 and a 52 week high of $116.47. The company has a market capitalization of $34.43 billion, a PE ratio of 9.52, a price-to-earnings-growth ratio of 5.65 and a beta of 0.51.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, beating the consensus estimate 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 business had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the prior year, the company posted $2.57 earnings per share. As a group, sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Insider Activity at Arch Capital Group

In related 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 directly owned 433,589 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Company insiders own 4.20% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ACGL. Keefe, Bruyette & Woods increased their price objective on shares of Arch Capital Group from $102.00 to $103.00 and gave the company a "market perform" rating in a research report on Thursday, August 14th. Wells Fargo & Company dropped their price objective on shares of Arch Capital Group from $110.00 to $107.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Citigroup began 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 on the stock. UBS Group reissued a "buy" rating and issued a $118.00 price objective (down from $124.00) on shares of Arch Capital Group in a research report on Monday, August 4th. Finally, Cowen reissued a "buy" rating on shares of Arch Capital Group in a research report on Monday, August 4th. Nine equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $111.27.

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.

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