Cercano Management LLC Trims Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Cercano Management LLC reduced its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 92.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,500 shares of the insurance provider’s stock after selling 285,344 shares during the quarter. Cercano Management LLC’s holdings in Arch Capital Group were worth $2,078,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of Arch Capital Group by 4.8% during the third quarter. Principal Financial Group Inc. now owns 7,438,738 shares of the insurance provider’s stock valued at $832,246,000 after acquiring an additional 337,786 shares in the last quarter. World Investment Advisors LLC bought a new stake in Arch Capital Group during the 3rd quarter valued at $312,000. Synovus Financial Corp lifted its holdings in shares of Arch Capital Group by 12.7% in the 3rd quarter. Synovus Financial Corp now owns 4,601 shares of the insurance provider’s stock worth $515,000 after buying an additional 519 shares during the period. Franklin Resources Inc. grew its position in shares of Arch Capital Group by 10.1% during the 3rd quarter. Franklin Resources Inc. now owns 608,467 shares of the insurance provider’s stock worth $67,595,000 after buying an additional 55,939 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Arch Capital Group by 3.1% during the fourth quarter. Nordea Investment Management AB now owns 30,283 shares of the insurance provider’s stock valued at $2,785,000 after buying an additional 905 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Arch Capital Group Trading Up 0.1 %

Shares of Arch Capital Group stock opened at $92.58 on Tuesday. Arch Capital Group Ltd. has a 12-month low of $82.49 and a 12-month high of $116.47. The firm’s 50 day simple moving average is $92.12 and its two-hundred day simple moving average is $94.21. The company has a current ratio of 0.54, a quick ratio of 0.58 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $34.78 billion, a price-to-earnings ratio of 8.27, a PEG ratio of 2.31 and a beta of 0.57.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.05). The firm had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Arch Capital Group had a return on equity of 17.96% and a net margin of 24.73%. The business’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the business earned $2.45 EPS. Analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ACGL shares. JPMorgan Chase & Co. raised their target price on shares of Arch Capital Group from $106.00 to $107.00 and gave the company a “neutral” rating in a research report on Tuesday, April 8th. Barclays cut their price objective on shares of Arch Capital Group from $100.00 to $93.00 and set an “equal weight” rating on the stock in a report on Friday, April 11th. Jefferies Financial Group upped their target price on Arch Capital Group from $105.00 to $106.00 and gave the stock a “buy” rating in a report on Friday, April 11th. JMP Securities restated a “market outperform” rating and set a $125.00 price objective on shares of Arch Capital Group in a research note on Wednesday, April 30th. Finally, UBS Group dropped their price objective on Arch Capital Group from $127.00 to $124.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.00.

Insider Transactions at Arch Capital Group

In related news, insider Louis T. Petrillo sold 11,600 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $91.00, for a total transaction of $1,055,600.00. Following the completion of the transaction, the insider now owns 140,023 shares of the company’s stock, valued at $12,742,093. This trade represents a 7.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.20% of the company’s stock.

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.