Arch Capital Group Ltd. (NASDAQ:ACGL) Position Cut by Invesco Ltd.

Key Points

• Invesco Ltd. reduced its stake in Arch Capital Group Ltd. by 2.6% in the first quarter, owning approximately 3,996,690 shares valued at $384 million after selling 108,720 shares.
• Several institutional investors have recently adjusted their positions in Arch Capital Group, with 89.07% of the stock now held by institutional entities.
• The stock has received a consensus rating of "Moderate Buy" from analysts, with a price target of $113.07.

Invesco Ltd. lowered its position in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 2.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,996,690 shares of the insurance provider's stock after selling 108,720 shares during the quarter. Invesco Ltd. owned about 1.06% of Arch Capital Group worth $384,402,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in Arch Capital Group by 30.5% during the first quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider's stock worth $718,522,000 after buying an additional 1,743,945 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Arch Capital Group by 1.9% in the fourth quarter. Nuveen Asset Management LLC now owns 4,888,997 shares of the insurance provider's stock valued at $451,499,000 after purchasing an additional 93,226 shares during the period. Northern Trust Corp boosted its stake in shares of Arch Capital Group by 11.3% in the fourth quarter. Northern Trust Corp now owns 4,860,804 shares of the insurance provider's stock valued at $448,895,000 after purchasing an additional 495,262 shares during the period. Madison Asset Management LLC boosted its stake in shares of Arch Capital Group by 9.0% in the first quarter. Madison Asset Management LLC now owns 4,837,602 shares of the insurance provider's stock valued at $465,281,000 after purchasing an additional 397,857 shares during the period. Finally, Egerton Capital UK LLP boosted its stake in shares of Arch Capital Group by 8.5% in the first quarter. Egerton Capital UK LLP now owns 4,325,217 shares of the insurance provider's stock valued at $415,999,000 after purchasing an additional 337,245 shares during the period. Hedge funds and other institutional investors own 89.07% of the company's stock.

Analysts Set New Price Targets

ACGL has been the subject of several recent research reports. Citigroup initiated coverage on shares of Arch Capital Group in a research note on Wednesday. They issued a "buy" rating and a $113.00 price objective for the company. Keefe, Bruyette & Woods raised 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. Cowen reaffirmed a "buy" rating on shares of Arch Capital Group in a report on Monday, August 4th. JMP Securities reaffirmed a "market outperform" rating and issued a $125.00 target price on shares of Arch Capital Group in a report on Wednesday, April 30th. Finally, Jefferies Financial Group cut shares of Arch Capital Group from a "buy" rating to a "hold" rating and cut their price objective for the stock from $106.00 to $100.00 in a report on Tuesday, June 10th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $112.13.

Arch Capital Group Price Performance

Shares of NASDAQ ACGL traded down $0.71 during trading on Friday, hitting $90.75. 1,733,221 shares of the company were exchanged, compared to its average volume of 1,933,183. The company has a market cap of $33.87 billion, a price-to-earnings ratio of 9.37, a PEG ratio of 5.52 and a beta of 0.49. 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 Ltd. has a 1 year low of $82.49 and a 1 year high of $116.47. The firm's fifty day moving average price is $89.40 and its 200 day moving average price is $91.29.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same period in the prior year, the firm earned $2.57 EPS. On average, sell-side analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

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.