Prudential PLC Decreases Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Key Points

• Prudential PLC reduced its stake in Arch Capital Group Ltd. by 17.4%, selling 34,824 shares and holding 165,713 shares now valued at approximately $15.9 million.
• The firm's current ratio and quick ratio stand at 0.56, while the company has a market capitalization of $33.56 billion and a PE ratio of 9.28.
• Several institutional investors, including Meeder Asset Management and Wayfinding Financial, have increased their positions, further emphasizing strong interest from institutional holders.

Prudential PLC lessened its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 17.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 165,713 shares of the insurance provider's stock after selling 34,824 shares during the quarter. Prudential PLC's holdings in Arch Capital Group were worth $15,938,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new position in shares of Arch Capital Group during the first quarter valued at $399,651,000. First Trust Advisors LP increased its holdings in Arch Capital Group by 663.3% in the fourth quarter. First Trust Advisors LP now owns 2,462,382 shares of the insurance provider's stock valued at $227,401,000 after purchasing an additional 2,139,782 shares during the period. JPMorgan Chase & Co. increased its holdings in 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 purchasing an additional 1,743,945 shares during the period. Marshall Wace LLP bought a new position in Arch Capital Group during the 4th quarter worth $151,342,000. Finally, GAMMA Investing LLC lifted its holdings in Arch Capital Group by 10,817.9% during the 1st quarter. GAMMA Investing LLC now owns 806,181 shares of the insurance provider's stock worth $775,380,000 after buying an additional 798,797 shares during the period. Institutional investors own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

ACGL has been the subject of several recent research reports. Morgan Stanley set a $110.00 price target on Arch Capital Group and gave the company an "overweight" rating in a research note on Monday, May 19th. Jefferies Financial Group downgraded shares of Arch Capital Group from a "buy" rating to a "hold" rating and decreased their target price for the company from $106.00 to $100.00 in a research report on Tuesday, June 10th. Citigroup initiated coverage on shares of Arch Capital Group in a report on Wednesday. They set a "buy" rating and a $113.00 price target for the company. JMP Securities restated 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. Finally, Cantor Fitzgerald upgraded shares of Arch Capital Group to a "hold" rating in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $112.13.

Arch Capital Group Stock Down 0.8%

Shares of Arch Capital Group stock traded down $0.74 on Friday, hitting $90.72. The company had a trading volume of 3,051,822 shares, compared to its average volume of 1,942,826. The stock has a market capitalization of $33.86 billion, a price-to-earnings ratio of 9.36, a P/E/G ratio of 5.52 and a beta of 0.49. Arch Capital Group Ltd. has a 1 year low of $82.49 and a 1 year high of $116.47. The stock has a 50 day moving average of $89.40 and a 200-day moving average of $91.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56.

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

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.