JPMorgan Chase & Co. Sells 1,449,531 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• JPMorgan Chase cut its Arch Capital Group stake by 17.7% in the fourth quarter, selling 1.45 million shares and leaving it with about 6.74 million shares valued at roughly $646.6 million.
• Other institutions also adjusted their positions, with Norges Bank initiating a large new stake and several firms, including Goldman Sachs and Legal & General, increasing their holdings. Institutional investors now own 89.07% of Arch Capital’s stock.
• Arch Capital shares rose 0.9% to $90.41, while the company reported quarterly EPS of $2.50 and revenue of $4.52 billion. Analysts currently have a consensus Hold rating with an average price target of $106.81.

JPMorgan Chase & Co. lessened its position in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 17.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,741,396 shares of the insurance provider's stock after selling 1,449,531 shares during the period. JPMorgan Chase & Co. owned about 1.86% of Arch Capital Group worth $646,635,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Arch Capital Group in the fourth quarter worth approximately $463,208,000. Goldman Sachs Group Inc. lifted its stake in shares of Arch Capital Group by 5.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,949,978 shares of the insurance provider's stock worth $282,962,000 after buying an additional 160,326 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Arch Capital Group by 4.3% in the fourth quarter. Legal & General Group Plc now owns 2,944,169 shares of the insurance provider's stock worth $282,405,000 after buying an additional 121,090 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Arch Capital Group by 409.5% in the third quarter. First Trust Advisors LP now owns 2,835,648 shares of the insurance provider's stock worth $257,278,000 after buying an additional 2,279,147 shares in the last quarter. Finally, UBS Group AG lifted its stake in shares of Arch Capital Group by 56.4% in the third quarter. UBS Group AG now owns 2,738,518 shares of the insurance provider's stock worth $248,466,000 after buying an additional 987,398 shares in the last quarter. Institutional investors own 89.07% of the company's stock.

Arch Capital Group Stock Up 0.9%

Arch Capital Group stock opened at $90.41 on Wednesday. The stock has a market cap of $31.59 billion, a PE ratio of 6.94, a price-to-earnings-growth ratio of 4.92 and a beta of 0.32. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.55 and a current ratio of 0.55. Arch Capital Group Ltd. has a one year low of $82.44 and a one year high of $103.39. The stock has a fifty day moving average of $94.71 and a 200 day moving average of $95.04.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $2.50 EPS for the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%.The company had revenue of $4.52 billion during the quarter. As a group, sell-side analysts predict that Arch Capital Group Ltd. will post 9.29 EPS for the current year.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, Director Daniel Joseph Houston purchased 5,300 shares of the firm's stock in a transaction on Thursday, April 30th. The shares were acquired at an average cost 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. The trade was a 114.84% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brian S. Posner sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total transaction of $58,980.00. Additional details regarding this sale are available in the official SEC disclosure. 3.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. UBS Group restated a "buy" rating and set a $114.00 price objective (up from $113.00) on shares of Arch Capital Group in a research report on Tuesday, February 17th. Mizuho lowered their price objective on shares of 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. Weiss Ratings downgraded shares of Arch Capital Group from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, May 18th. Keefe, Bruyette & Woods lowered their price objective on shares of 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. Finally, Barclays lifted their price objective on Arch Capital Group from $104.00 to $106.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 8th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $106.81.

Arch Capital Group Company Profile

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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