Great Lakes Advisors LLC Reduces Holdings in 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 cut its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 39.7% during the first quarter, according to the company in its most recent filing with the Securities & 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 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC lifted its holdings in Arch Capital Group by 20.4% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 5,967 shares of the insurance provider's stock worth $574,000 after buying an additional 1,010 shares in the last quarter. UniSuper Management Pty Ltd lifted its holdings in Arch Capital Group by 2.6% during the 1st quarter. UniSuper Management Pty Ltd now owns 35,163 shares of the insurance provider's stock worth $3,382,000 after buying an additional 900 shares in the last quarter. Scientech Research LLC acquired a new stake in Arch Capital Group during the 1st quarter worth approximately $909,000. Nissay Asset Management Corp Japan ADV lifted its holdings in Arch Capital Group by 1.3% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 45,685 shares of the insurance provider's stock worth $4,394,000 after buying an additional 571 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Arch Capital Group by 67.4% during the 1st quarter. NewEdge Advisors LLC now owns 26,168 shares of the insurance provider's stock worth $2,517,000 after buying an additional 10,535 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ACGL has been the topic of a number of analyst reports. Wells Fargo & Company reduced 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 report on Thursday, July 31st. Jefferies Financial Group lowered shares of Arch Capital Group from a "buy" rating to a "hold" rating and dropped their price objective for the company from $106.00 to $100.00 in a research note on Tuesday, June 10th. Wolfe Research assumed coverage on shares of Arch Capital Group in a research note on Monday. They issued a "peer perform" rating on the stock. Citigroup began coverage on shares of Arch Capital Group in a research note on Wednesday, August 13th. They issued a "buy" rating and a $113.00 price objective on the stock. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Arch Capital Group from $102.00 to $103.00 and gave the company a "market perform" rating in a report on Thursday, August 14th. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $111.27.

Insider Buying and Selling

In related news, insider Maamoun Rajeh sold 10,000 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $94.15, for a total transaction of $941,500.00. Following the sale, the insider owned 433,589 shares of the company's stock, valued at approximately $40,822,404.35. The trade was a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.20% of the company's stock.

Arch Capital Group Price Performance

ACGL stock traded up $0.84 during trading on Thursday, reaching $88.19. 2,249,815 shares of the company were exchanged, compared to its average volume of 1,796,646. The company has a market cap of $32.91 billion, a P/E ratio of 9.10, a PEG ratio of 5.35 and a beta of 0.51. Arch Capital Group Ltd. has a 52-week low of $82.49 and a 52-week high of $116.47. The stock's 50 day moving average price is $89.77 and its 200 day moving average price is $91.27. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.30 by $0.28. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate 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 firm earned $2.57 earnings per share. As a group, analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Arch Capital Group 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.