Martingale Asset Management L P Cuts Stock Holdings in Arch Capital Group Ltd. $ACGL

Martingale Asset Management L P trimmed its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 16.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,854 shares of the insurance provider’s stock after selling 13,598 shares during the period. Martingale Asset Management L P’s holdings in Arch Capital Group were worth $6,622,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ACGL. Jump Financial LLC boosted its position in Arch Capital Group by 6.9% during the fourth quarter. Jump Financial LLC now owns 3,384 shares of the insurance provider’s stock valued at $313,000 after buying an additional 218 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Arch Capital Group by 8.2% during the fourth quarter. NewEdge Advisors LLC now owns 15,633 shares of the insurance provider’s stock worth $1,444,000 after purchasing an additional 1,183 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of Arch Capital Group by 2.2% during the fourth quarter. Hsbc Holdings PLC now owns 475,852 shares of the insurance provider’s stock worth $43,818,000 after purchasing an additional 10,198 shares during the period. Dark Forest Capital Management LP boosted its holdings in shares of Arch Capital Group by 107.7% during the fourth quarter. Dark Forest Capital Management LP now owns 5,771 shares of the insurance provider’s stock worth $533,000 after purchasing an additional 2,992 shares during the period. Finally, Coppell Advisory Solutions LLC boosted its holdings in shares of Arch Capital Group by 281.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,037 shares of the insurance provider’s stock worth $95,000 after purchasing an additional 765 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. UBS Group reiterated a “buy” rating and set a $118.00 target price (down from $124.00) on shares of Arch Capital Group in a report on Monday, August 4th. Morgan Stanley set a $110.00 target price on shares of Arch Capital Group and gave the stock an “overweight” rating in a report on Monday, May 19th. JMP Securities reiterated a “market outperform” rating and set a $125.00 target price on shares of Arch Capital Group in a report on Wednesday, April 30th. Keefe, Bruyette & Woods increased their target price on shares of Arch Capital Group from $102.00 to $103.00 and gave the stock a “market perform” rating in a report on Thursday, August 14th. Finally, Citigroup began coverage on shares of Arch Capital Group in a research note on Wednesday, August 13th. They issued a “buy” rating and a $113.00 price target for the company. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $112.13.

Arch Capital Group Price Performance

Shares of NASDAQ ACGL opened at $93.54 on Friday. Arch Capital Group Ltd. has a fifty-two week low of $82.49 and a fifty-two week high of $116.47. The company has a 50 day simple moving average of $89.40 and a two-hundred day simple moving average of $91.22. The company has a market capitalization of $34.91 billion, a price-to-earnings ratio of 9.65, a P/E/G ratio of 5.69 and a beta of 0.49. 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) last announced its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.28. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter last year, the firm earned $2.57 earnings per share. Analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

About Arch Capital Group

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.