Waverly Advisors LLC Sells 56,207 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• Waverly Advisors LLC cut its Arch Capital Group stake by 90.9%, selling 56,207 shares and retaining 5,612 shares valued at approximately $545,000.
• Institutional investors own 89.07% of ACGL, while analyst sentiment is mixed: the stock has a consensus “Hold” rating and an average price target of $110.82.
• Arch Capital reported quarterly EPS of $2.56, beating estimates of $2.47, and revenue of $4.67 billion, above the $4.36 billion consensus estimate. Shares opened at $96.97, down 0.1%.

Waverly Advisors LLC lessened its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 90.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 5,612 shares of the insurance provider's stock after selling 56,207 shares during the quarter. Waverly Advisors LLC's holdings in Arch Capital Group were worth $545,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ACGL. Norges Bank bought a new position in shares of Arch Capital Group in the fourth quarter worth approximately $463,208,000. Dimensional Fund Advisors LP lifted its stake in shares of Arch Capital Group by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 4,173,885 shares of the insurance provider's stock worth $400,643,000 after buying an additional 117,929 shares in the last quarter. Madison Asset Management LLC purchased a new stake in shares of Arch Capital Group during the second quarter valued at approximately $368,808,000. Goldman Sachs Group Inc. grew its holdings in shares of Arch Capital Group by 5.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,949,978 shares of the insurance provider's stock valued at $282,962,000 after buying an additional 160,326 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Arch Capital Group by 4.3% during the fourth quarter. Legal & General Group Plc now owns 2,944,169 shares of the insurance provider's stock valued at $282,405,000 after acquiring an additional 121,090 shares in the last quarter. Institutional investors own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ACGL shares. UBS Group restated a "buy" rating and issued a $120.00 price objective (up from $114.00) on shares of Arch Capital Group in a report on Wednesday, July 8th. Citigroup reiterated a "market outperform" rating on shares of Arch Capital Group in a research note on Wednesday, July 29th. Weiss Ratings reissued a "buy (b-)" rating on shares of Arch Capital Group in a report on Thursday, August 13th. Keefe, Bruyette & Woods decreased their price target on Arch Capital Group from $102.00 to $99.00 and set a "market perform" rating for the company in a research note on Wednesday, July 8th. Finally, Morgan Stanley upped their price target on Arch Capital Group from $105.00 to $110.00 and gave the company an "overweight" rating in a report on Monday, July 6th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $110.82.

Arch Capital Group Trading Down 0.1%

Shares of ACGL opened at $96.97 on Thursday. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $107.08. The firm has a market capitalization of $33.09 billion, a P/E ratio of 7.58, a P/E/G ratio of 4.78 and a beta of 0.30. The firm has a 50-day moving average price of $99.55 and a 200 day moving average price of $96.66. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.23.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its earnings results on Tuesday, July 28th. The insurance provider reported $2.56 EPS for the quarter, topping analysts' consensus estimates of $2.47 by $0.09. Arch Capital Group had a net margin of 24.40% and a return on equity of 17.06%. The company had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the previous year, the firm earned $2.58 earnings per share. Sell-side analysts forecast that Arch Capital Group Ltd. will post 9.44 EPS for the current year.

Insider Transactions at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 11,010 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $99.32, for a total transaction of $1,093,513.20. Following the sale, the chief financial officer owned 184,826 shares in the company, valued at approximately $18,356,918.32. This represents a 5.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.30% of the company's stock.

Arch Capital Group Company Profile

Arch Capital Group Ltd. is a Bermuda-based insurance and financial services company that operates through a global network of subsidiaries. Listed on the Nasdaq under the symbol ACGL, the company provides specialty insurance, reinsurance and mortgage insurance products to businesses, institutions and individuals.

Arch's insurance operations offer coverage across property, casualty and specialty lines, including professional liability, marine, aviation, energy, construction, accident and health, and other complex or customized risks.

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