Martingale Asset Management L P Sells 13,598 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• Martingale Asset Management L P reduced its stake in Arch Capital Group by 16.5%, owning 68,854 shares worth approximately $6.62 million after selling 13,598 shares in Q1.
• Several institutional investors, including Jump Financial LLC and Coppell Advisory Solutions LLC, have recently increased their stakes in Arch Capital Group, highlighting strong institutional interest in the stock.
• Analysts maintain a consensus "Moderate Buy" rating for Arch Capital Group with target prices ranging from $102.00 to $125.00, reflecting variations in growth expectations.

Martingale Asset Management L P cut its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 16.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 68,854 shares of the insurance provider's stock after selling 13,598 shares during the period. Martingale Asset Management L P's holdings in Arch Capital Group were worth $6,622,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ACGL. Capital A Wealth Management LLC purchased a new stake in shares of Arch Capital Group in the 4th quarter worth about $25,000. Bartlett & CO. Wealth Management LLC bought a new stake in Arch Capital Group during the 1st quarter valued at approximately $27,000. Meeder Asset Management Inc. boosted its position in Arch Capital Group by 116.3% during the 1st quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock valued at $27,000 after acquiring an additional 150 shares in the last quarter. Wayfinding Financial LLC bought a new position in shares of Arch Capital Group in the 1st quarter worth approximately $31,000. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Arch Capital Group in the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Arch Capital Group Stock Performance

Shares of NASDAQ ACGL traded down $0.13 during trading on Friday, reaching $93.41. 1,820,208 shares of the company traded hands, compared to its average volume of 2,234,580. The firm has a 50 day simple moving average of $89.45 and a 200-day simple moving average of $91.19. Arch Capital Group Ltd. has a 52-week low of $82.49 and a 52-week high of $116.47. The stock has a market capitalization of $34.86 billion, a PE ratio of 9.64, a P/E/G ratio of 5.72 and a beta of 0.49. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share 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 the consensus estimate of $4.29 billion. During the same quarter in the prior year, the firm earned $2.57 earnings per share. Equities research analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Jefferies Financial Group cut Arch Capital Group from a "buy" rating to a "hold" rating and reduced their price target for the stock from $106.00 to $100.00 in a research note on Tuesday, June 10th. Citigroup started coverage on shares of Arch Capital Group in a research note on Wednesday, August 13th. They set a "buy" rating and a $113.00 target price for the company. Wells Fargo & Company lowered their target price on shares of Arch Capital Group from $110.00 to $107.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Cowen reaffirmed a "buy" rating on shares of Arch Capital Group in a research report on Monday, August 4th. Finally, Cantor Fitzgerald upgraded Arch Capital Group to a "hold" rating in a research note on Wednesday, August 13th. Nine investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $111.27.

About Arch Capital Group

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.