HighTower Advisors LLC Sells 15,907 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• HighTower Advisors LLC reduced its Arch Capital Group stake by 19.3% in the fourth quarter, selling 15,907 shares and leaving it with 66,551 shares valued at about $6.38 million.
• Arch Capital Group stock fell 4.2% and was trading at $91.40, below both its 50-day and 200-day moving averages; the company also has a market cap of about $31.93 billion.
• Analysts remain cautious on ACGL, with a consensus rating of “Hold” and an average price target of $106.32, even as the company recently reported quarterly EPS of $2.50 on $4.52 billion in revenue.

HighTower Advisors LLC cut its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 19.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,551 shares of the insurance provider's stock after selling 15,907 shares during the period. HighTower Advisors LLC's holdings in Arch Capital Group were worth $6,384,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Daymark Wealth Partners LLC lifted its stake in Arch Capital Group by 3.4% in the fourth quarter. Daymark Wealth Partners LLC now owns 3,211 shares of the insurance provider's stock valued at $308,000 after purchasing an additional 106 shares during the last quarter. Keel Point LLC lifted its stake in Arch Capital Group by 4.6% in the third quarter. Keel Point LLC now owns 2,524 shares of the insurance provider's stock valued at $229,000 after purchasing an additional 112 shares during the last quarter. Legacy Advisors LLC lifted its stake in Arch Capital Group by 1.2% in the fourth quarter. Legacy Advisors LLC now owns 9,551 shares of the insurance provider's stock valued at $916,000 after purchasing an additional 112 shares during the last quarter. Compound Planning Inc. lifted its stake in Arch Capital Group by 5.0% in the third quarter. Compound Planning Inc. now owns 2,644 shares of the insurance provider's stock valued at $240,000 after purchasing an additional 127 shares during the last quarter. Finally, TD Waterhouse Canada Inc. lifted its stake in Arch Capital Group by 72.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 323 shares of the insurance provider's stock valued at $31,000 after purchasing an additional 136 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Arch Capital Group Trading Down 4.2%

NASDAQ:ACGL opened at $91.40 on Thursday. The company has a market cap of $31.93 billion, a P/E ratio of 7.02, a P/E/G ratio of 5.25 and a beta of 0.35. The stock's fifty day moving average price is $95.43 and its two-hundred day moving average price is $95.17. Arch Capital Group Ltd. has a 1 year low of $82.44 and a 1 year high of $103.39. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.55 and a quick ratio of 0.55.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share (EPS) for the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%.The firm had revenue of $4.52 billion for the quarter. As a group, analysts expect that Arch Capital Group Ltd. will post 9.27 EPS for the current year.

Insiders Place Their Bets

In other Arch Capital Group news, Director Daniel Joseph Houston acquired 5,300 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were bought at an average price of $94.08 per share, for a total transaction of $498,624.00. Following the completion of the transaction, the director owned 9,915 shares of the company's stock, valued at approximately $932,803.20. This represents a 114.84% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David Gansberg sold 5,907 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $96.37, for a total value of $569,257.59. Following the completion of the sale, the insider owned 336,559 shares in the company, valued at $32,434,190.83. This trade represents a 1.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 32,837 shares of company stock worth $2,766,946. 3.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ACGL has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their target price on Arch Capital Group from $117.00 to $110.00 and set a "neutral" rating on the stock in a research report on Monday, April 20th. Keefe, Bruyette & Woods dropped their target price on Arch Capital Group from $105.00 to $102.00 and set a "market perform" rating on the stock in a research report on Tuesday, May 5th. Mizuho dropped their target price on Arch Capital Group from $102.00 to $101.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 5th. Barclays increased their target price on Arch Capital Group from $104.00 to $106.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 8th. Finally, Morgan Stanley set a $105.00 target price on Arch Capital Group in a research report on Friday, May 1st. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $106.32.

About Arch Capital Group

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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