Mount Lucas Management LP Cuts Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

Mount Lucas Management LP lowered its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 18.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 23,308 shares of the insurance provider's stock after selling 5,170 shares during the period. Arch Capital Group comprises 0.7% of Mount Lucas Management LP's holdings, making the stock its 25th largest holding. Mount Lucas Management LP's holdings in Arch Capital Group were worth $2,242,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Capital A Wealth Management LLC acquired a new stake in Arch Capital Group in the fourth quarter worth $25,000. Bartlett & CO. Wealth Management LLC acquired a new stake in Arch Capital Group in the first quarter worth $27,000. Wayfinding Financial LLC acquired a new stake in Arch Capital Group in the first quarter worth $31,000. Grove Bank & Trust acquired a new stake in Arch Capital Group in the first quarter worth $40,000. Finally, Quarry LP acquired a new stake in Arch Capital Group in the fourth quarter worth $58,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Arch Capital Group from $106.00 to $107.00 and gave the stock a "neutral" rating in a report on Tuesday, April 8th. UBS Group raised their price objective on shares of Arch Capital Group to $124.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Jefferies Financial Group lowered shares of Arch Capital Group from a "buy" rating to a "hold" rating and dropped their price objective for the company from $106.00 to $100.00 in a research note on Tuesday, June 10th. JMP Securities reaffirmed a "market outperform" rating and issued a $125.00 price objective on shares of Arch Capital Group in a research note on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and set a $101.00 price target (down from $113.00) on shares of Arch Capital Group in a research report on Wednesday, July 9th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, Arch Capital Group presently has an average rating of "Moderate Buy" and a consensus price target of $113.60.

Arch Capital Group Trading Up 1.0%

Shares of Arch Capital Group stock traded up $0.89 during trading on Friday, reaching $88.89. The company's stock had a trading volume of 2,552,610 shares, compared to its average volume of 2,684,975. Arch Capital Group Ltd. has a 52-week low of $82.49 and a 52-week high of $116.47. The company has a market cap of $33.31 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 6.12 and a beta of 0.51. The firm's 50-day moving average is $91.01 and its two-hundred day moving average is $91.79. 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 posted its quarterly earnings results on Tuesday, April 29th. The insurance provider reported $1.54 EPS for the quarter, missing analysts' consensus estimates of $1.59 by ($0.05). Arch Capital Group had a net margin of 20.72% and a return on equity of 15.79%. The firm had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.75 billion. During the same quarter in the prior year, the company earned $2.45 earnings per share. The company's quarterly revenue was up 10.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Insider Activity

In other Arch Capital Group news, insider Louis T. Petrillo sold 16,650 shares of the company's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $94.53, for a total value of $1,573,924.50. Following the completion of the transaction, the insider directly owned 140,023 shares in the company, valued at approximately $13,236,374.19. This represents a 10.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Francois Morin sold 12,630 shares of the company'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 transaction, the chief financial officer owned 274,681 shares of the company's stock, valued at $25,979,328.98. This trade represents a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,976 shares of company stock valued at $10,531,038. 4.20% of the stock is owned by corporate insiders.

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.