Goldman Sachs Group Inc. cut its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 51.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 964,426 shares of the insurance provider’s stock after selling 1,005,069 shares during the period. Goldman Sachs Group Inc. owned approximately 0.74% of Arch Capital Group worth $87,541,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue raised its holdings in shares of Arch Capital Group by 28.1% in the fourth quarter. State of Alaska Department of Revenue now owns 41,268 shares of the insurance provider’s stock worth $3,745,000 after buying an additional 9,060 shares during the period. Teacher Retirement System of Texas bought a new stake in Arch Capital Group during the 4th quarter valued at $3,332,000. American International Group Inc. boosted its position in Arch Capital Group by 51.1% during the 4th quarter. American International Group Inc. now owns 7,768 shares of the insurance provider’s stock valued at $705,000 after acquiring an additional 2,628 shares in the last quarter. WINTON GROUP Ltd boosted its position in Arch Capital Group by 47.2% during the 3rd quarter. WINTON GROUP Ltd now owns 11,448 shares of the insurance provider’s stock valued at $1,128,000 after acquiring an additional 3,669 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in Arch Capital Group by 5.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 273,416 shares of the insurance provider’s stock valued at $24,818,000 after acquiring an additional 12,930 shares in the last quarter. 77.96% of the stock is owned by institutional investors.
A number of analysts have recently weighed in on ACGL shares. Wells Fargo set a $96.00 price objective on Arch Capital Group and gave the stock a “hold” rating in a research report on Wednesday, March 14th. BidaskClub upgraded Arch Capital Group from a “sell” rating to a “hold” rating in a research note on Friday, March 30th. Keefe, Bruyette & Woods upgraded Arch Capital Group from a “market perform” rating to an “outperform” rating in a research note on Thursday, March 22nd. Finally, ValuEngine lowered Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Arch Capital Group presently has an average rating of “Hold” and a consensus price target of $102.43.
In related news, CFO Mark Donald Lyons sold 6,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $89.39, for a total transaction of $536,340.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Constantine Iordanou purchased 7,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were purchased at an average cost of $23.80 per share, with a total value of $166,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 7,000 shares of the company’s stock, valued at $166,600. The disclosure for this purchase can be found here. Corporate insiders own 6.60% of the company’s stock.
Shares of NASDAQ ACGL opened at $85.41 on Friday. Arch Capital Group Ltd. has a 52-week low of $83.16 and a 52-week high of $102.60. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market capitalization of $11,827.53, a price-to-earnings ratio of 26.61, a PEG ratio of 1.26 and a beta of 0.61.
Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Monday, February 12th. The insurance provider reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.21. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. Arch Capital Group had a return on equity of 5.87% and a net margin of 11.21%. The company’s revenue was up 27.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.13 earnings per share. analysts predict that Arch Capital Group Ltd. will post 6.23 earnings per share for the current fiscal year.
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Arch Capital Group Profile
Arch Capital Group Ltd., together with its subsidiaries, provides property, casualty, and mortgage insurance and reinsurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; collateral protection, debt cancellation, and service contract reimbursement products; 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.
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