Montag A & Associates Inc. Sells 21,826 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Montag A & Associates Inc. decreased its position in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 73.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 7,941 shares of the insurance provider's stock after selling 21,826 shares during the quarter. Montag A & Associates Inc.'s holdings in Arch Capital Group were worth $764,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Capital A Wealth Management LLC bought a new stake in Arch Capital Group during the 4th quarter worth about $25,000. Bartlett & CO. Wealth Management LLC bought a new stake in Arch Capital Group during the 1st quarter worth about $27,000. Wayfinding Financial LLC bought a new stake in Arch Capital Group during the 1st quarter worth about $31,000. Grove Bank & Trust bought a new stake in Arch Capital Group during the 1st quarter worth about $40,000. Finally, Quarry LP bought a new stake in Arch Capital Group during the 4th quarter worth about $58,000. Institutional investors own 89.07% of the company's stock.

Insiders Place Their Bets

In other news, CFO Francois Morin sold 12,630 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $94.58, for a total transaction of $1,194,545.40. Following the completion of the sale, the chief financial officer directly owned 274,681 shares of the company's stock, valued at $25,979,328.98. This trade represents a 4.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John M. Pasquesi sold 75,060 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $94.01, for a total value of $7,056,390.60. Following the sale, the insider directly owned 579,218 shares of the company's stock, valued at approximately $54,452,284.18. This represents a 11.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,976 shares of company stock valued at $10,531,038 over the last 90 days. 4.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on ACGL. Wells Fargo & Company reissued an "overweight" rating and set a $110.00 price objective (up previously from $108.00) on shares of Arch Capital Group in a report on Thursday, July 10th. UBS Group upped their target price on shares of Arch Capital Group to $124.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Jefferies Financial Group downgraded shares of Arch Capital Group from a "buy" rating to a "hold" rating and cut their target price for the company from $106.00 to $100.00 in a research report on Tuesday, June 10th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $101.00 target price (down from $113.00) on shares of Arch Capital Group in a research report on Wednesday, July 9th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $125.00 price target on shares of Arch Capital Group in a research report on Wednesday, April 30th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $113.60.

Arch Capital Group Stock Performance

Shares of ACGL traded down $0.49 during midday trading on Thursday, reaching $88.13. 630,281 shares of the stock were exchanged, compared to its average volume of 1,871,114. Arch Capital Group Ltd. has a twelve month low of $82.49 and a twelve month high of $116.47. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16. The company has a market cap of $33.03 billion, a P/E ratio of 9.02, a PEG ratio of 6.19 and a beta of 0.51. The stock's 50 day simple moving average is $91.28 and its 200 day simple moving average is $91.86.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its earnings results on Tuesday, April 29th. The insurance provider reported $1.54 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.05). Arch Capital Group had a return on equity of 15.79% and a net margin of 20.72%. The business had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same period in the previous year, the firm posted $2.45 EPS. The firm's revenue was up 10.5% compared to the same quarter last year. On average, sell-side analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

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.