Maren Capital LLC Sells 121,299 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• Maren Capital reduced its Arch Capital Group stake by 10.3%, selling 121,299 shares and retaining 1.06 million shares valued at approximately $102.6 million. Institutional investors own 89.07% of ACGL.
• Analyst sentiment is mixed: seven analysts rate ACGL a Buy, seven a Hold, and one a Sell, resulting in a consensus “Hold” rating and an average price target of $111.11.
• Arch Capital reported quarterly EPS of $2.56, beating estimates of $2.47, while revenue reached $4.67 billion versus expectations of $4.36 billion. The stock opened at $98.10, down 1.7%.

Maren Capital LLC lessened its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 10.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,057,571 shares of the insurance provider's stock after selling 121,299 shares during the period. Arch Capital Group makes up 4.8% of Maren Capital LLC's portfolio, making the stock its 9th biggest position. Maren Capital LLC owned approximately 0.31% of Arch Capital Group worth $102,648,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Geneos Wealth Management Inc. boosted its holdings in shares of Arch Capital Group by 157.9% in the first quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider's stock valued at $65,000 after buying an additional 412 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Arch Capital Group during the second quarter worth $253,000. CW Advisors LLC lifted its position in Arch Capital Group by 6.5% in the 2nd quarter. CW Advisors LLC now owns 3,098 shares of the insurance provider's stock valued at $282,000 after acquiring an additional 189 shares in the last quarter. Jump Financial LLC bought a new stake in Arch Capital Group in the 2nd quarter valued at $667,000. Finally, Cerity Partners LLC boosted its stake in Arch Capital Group by 11.6% in the 2nd quarter. Cerity Partners LLC now owns 47,486 shares of the insurance provider's stock worth $4,324,000 after purchasing an additional 4,933 shares during the period. 89.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on ACGL. Royal Bank Of Canada reiterated an "outperform" rating and set a $120.00 target price (up from $115.00) on shares of Arch Capital Group in a report on Thursday, July 30th. Mizuho boosted their price target on Arch Capital Group from $101.00 to $104.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. UBS Group reaffirmed a "buy" rating and set a $120.00 price objective (up from $114.00) on shares of Arch Capital Group in a research report on Wednesday, July 8th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Arch Capital Group in a report on Thursday, August 13th. Finally, Keefe, Bruyette & Woods dropped their target price on Arch Capital Group from $102.00 to $99.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 8th. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Arch Capital Group has a consensus rating of "Hold" and a consensus price target of $111.11.

Insiders Place Their Bets

In other Arch Capital Group news, CFO Francois Morin sold 11,010 shares of the company's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $99.32, for a total transaction of $1,093,513.20. Following the sale, the chief financial officer directly owned 184,826 shares of the company's stock, valued at approximately $18,356,918.32. This represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.30% of the company's stock.

Arch Capital Group Stock Down 1.7%

ACGL stock opened at $98.10 on Friday. The company has a market cap of $33.47 billion, a price-to-earnings ratio of 7.67, a P/E/G ratio of 4.83 and a beta of 0.30. Arch Capital Group Ltd. has a twelve month low of $82.44 and a twelve month high of $107.08. The business has a 50 day moving average price of $100.16 and a two-hundred day moving average price of $96.78. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.23.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.47 by $0.09. The company had revenue of $4.67 billion for the quarter, compared to analysts' expectations of $4.36 billion. Arch Capital Group had a return on equity of 17.06% and a net margin of 24.40%.During the same quarter in the prior year, the business posted $2.58 EPS. Analysts anticipate that Arch Capital Group Ltd. will post 9.44 EPS for the current fiscal year.

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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