Parkwood LLC Sells 3,177 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• Parkwood LLC reduced its stake in Arch Capital Group by 3.3% in the first quarter, now owning 92,156 shares valued at approximately $8.86 million.
• Other hedge funds like Harbour Investments Inc. and Hemington Wealth Management have increased their holdings in Arch Capital, contributing to approximately 89.07% of the stock being owned by institutional investors.
• Arch Capital Group reported earnings of $2.58 EPS for the last quarter, exceeding analyst expectations, with a projected EPS of 8.42 for the current year.

Parkwood LLC lowered its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 3.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,156 shares of the insurance provider's stock after selling 3,177 shares during the period. Parkwood LLC's holdings in Arch Capital Group were worth $8,864,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in ACGL. Nuveen LLC bought a new position in shares of Arch Capital Group during the first quarter worth approximately $399,651,000. JPMorgan Chase & Co. boosted its stake in shares of Arch Capital Group by 30.5% in the first quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider's stock valued at $718,522,000 after buying an additional 1,743,945 shares during the period. GAMMA Investing LLC boosted its stake in shares of Arch Capital Group by 10,817.9% in the first quarter. GAMMA Investing LLC now owns 806,181 shares of the insurance provider's stock valued at $775,380,000 after buying an additional 798,797 shares during the period. GQG Partners LLC bought a new stake in shares of Arch Capital Group in the first quarter valued at approximately $71,769,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Arch Capital Group by 17.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,576,223 shares of the insurance provider's stock valued at $330,264,000 after buying an additional 522,484 shares during the period. Institutional investors own 89.07% of the company's stock.

Arch Capital Group Price Performance

Shares of Arch Capital Group stock traded down $1.29 during midday trading on Tuesday, hitting $89.61. 2,587,230 shares of the company traded hands, compared to its average volume of 1,773,862. The stock has a market cap of $33.44 billion, a price-to-earnings ratio of 9.25, a PEG ratio of 5.57 and a beta of 0.51. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. The firm's fifty day moving average price is $89.66 and its 200-day moving average price is $91.34. Arch Capital Group Ltd. has a 12 month low of $82.49 and a 12 month high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.28. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.29 billion. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. During the same period in the previous year, the firm posted $2.57 EPS. As a group, sell-side analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Insider Activity

In related news, insider Maamoun Rajeh sold 10,000 shares of Arch Capital Group stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $94.15, for a total transaction of $941,500.00. Following the sale, the insider directly owned 433,589 shares in the company, valued at $40,822,404.35. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.10% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Jefferies Financial Group cut Arch Capital Group from a "buy" rating to a "hold" rating and cut their price target for the company from $106.00 to $100.00 in a research note on Tuesday, June 10th. Morgan Stanley set a $110.00 price objective on shares of Arch Capital Group and gave the stock an "overweight" rating in a research note on Monday, May 19th. Citigroup initiated coverage on shares of Arch Capital Group in a research note on Wednesday, August 13th. They set a "buy" rating and a $113.00 price objective on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Arch Capital Group from $102.00 to $103.00 and gave the stock a "market perform" rating in a research note on Thursday, August 14th. Finally, UBS Group reiterated a "buy" rating and set a $118.00 price objective (down from $124.00) on shares of Arch Capital Group in a research note on Monday, August 4th. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Arch Capital Group presently has an average rating of "Moderate Buy" and an average target price of $111.27.

Arch Capital Group 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.