Westover Capital Advisors LLC Has $1.12 Million Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

Key Points

• Westover Capital Advisors LLC significantly reduced its stake in Arch Capital Group Ltd. by 67.5%, holding shares valued at $1.12 million after selling over 24,000 shares in the 1st quarter.
• In addition to Westover, several other hedge funds also adjusted their positions, with 89.07% of the stock now owned by institutional investors, highlighting strong institutional interest.
• Analysts are mixed on the stock's outlook, with a consensus target price of $113.60 and several rating changes among key financial firms over recent months.

Westover Capital Advisors LLC cut its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 67.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,647 shares of the insurance provider's stock after selling 24,244 shares during the quarter. Westover Capital Advisors LLC's holdings in Arch Capital Group were worth $1,120,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ACGL. Geode Capital Management LLC increased its stake in Arch Capital Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 11,010,756 shares of the insurance provider's stock valued at $1,014,648,000 after acquiring an additional 180,493 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of Arch Capital Group by 1.9% in the 4th quarter. Nuveen Asset Management LLC now owns 4,888,997 shares of the insurance provider's stock valued at $451,499,000 after purchasing an additional 93,226 shares during the last quarter. Northern Trust Corp increased its stake in shares of Arch Capital Group by 11.3% in the 4th quarter. Northern Trust Corp now owns 4,860,804 shares of the insurance provider's stock valued at $448,895,000 after purchasing an additional 495,262 shares during the last quarter. Madison Asset Management LLC lifted its position in shares of Arch Capital Group by 9.0% during the 1st quarter. Madison Asset Management LLC now owns 4,837,602 shares of the insurance provider's stock worth $465,281,000 after buying an additional 397,857 shares during the last quarter. Finally, Norges Bank acquired a new position in Arch Capital Group during the fourth quarter worth about $437,291,000. 89.07% of the stock is owned by institutional investors.

Insider Activity

In other Arch Capital Group news, insider John M. Pasquesi sold 75,060 shares of the stock in a transaction dated 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 completion of the sale, the insider owned 579,218 shares in the company, valued at approximately $54,452,284.18. This trade represents a 11.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Francois Morin sold 12,630 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $94.58, for a total value of $1,194,545.40. Following the completion of the transaction, the chief financial officer directly owned 274,681 shares of the company's stock, valued at approximately $25,979,328.98. This represents a 4.40% 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 in the last three months. 4.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JMP Securities reaffirmed a "market outperform" rating and issued a $125.00 target price on shares of Arch Capital Group in a report on Wednesday, April 30th. Morgan Stanley set a $110.00 price target on shares of Arch Capital Group and gave the company an "overweight" rating in a research note on Monday, May 19th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $101.00 price objective (down previously from $113.00) on shares of Arch Capital Group in a research note on Wednesday, July 9th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $110.00 target price (up from $108.00) on shares of Arch Capital Group in a research report on Thursday, July 10th. Finally, Jefferies Financial Group lowered Arch Capital Group from a "buy" rating to a "hold" rating and reduced their price target for the company from $106.00 to $100.00 in a research report on Tuesday, June 10th. Eight 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 has a consensus rating of "Moderate Buy" and a consensus target price of $113.60.

Arch Capital Group Stock Performance

Shares of Arch Capital Group stock opened at $88.00 on Friday. The business has a 50-day simple moving average of $91.12 and a 200 day simple moving average of $91.82. The firm has a market capitalization of $32.98 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 6.16 and a beta of 0.51. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56. Arch Capital Group Ltd. has a one year low of $82.49 and a one year high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its earnings results on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share for the quarter, missing analysts' consensus estimates 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 firm 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 company earned $2.45 earnings per share. Arch Capital Group's revenue for the quarter was up 10.5% compared to the same quarter last year. On average, research analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding ACGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.