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

EdgeRock Capital LLC trimmed its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 20.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,758 shares of the insurance provider’s stock after selling 960 shares during the quarter. EdgeRock Capital LLC’s holdings in Arch Capital Group were worth $361,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Arch Capital Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 41,999,603 shares of the insurance provider’s stock valued at $3,878,663,000 after acquiring an additional 182,150 shares in the last quarter. Geode Capital Management LLC raised its position in Arch Capital Group by 1.7% during 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 in the last quarter. Principal Financial Group Inc. raised its position in Arch Capital Group by 10.5% during the fourth quarter. Principal Financial Group Inc. now owns 8,222,244 shares of the insurance provider’s stock valued at $759,324,000 after acquiring an additional 783,506 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Arch Capital Group by 4.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,350,868 shares of the insurance provider’s stock valued at $488,992,000 after acquiring an additional 226,617 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its position in Arch Capital Group by 1.9% during the fourth quarter. Nuveen Asset Management LLC now owns 4,888,997 shares of the insurance provider’s stock valued at $451,499,000 after acquiring an additional 93,226 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Stock Performance

Shares of NASDAQ:ACGL opened at $89.77 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.54 and a quick ratio of 0.58. The business’s 50 day moving average price is $92.35 and its 200-day moving average price is $92.89. The firm has a market capitalization of $33.64 billion, a PE ratio of 8.02, a P/E/G ratio of 2.31 and a beta of 0.53. Arch Capital Group Ltd. has a 1 year low of $82.49 and a 1 year high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly 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 analyst estimates 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 period in the prior year, the firm earned $2.45 earnings per share. As a group, equities research analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ACGL. Morgan Stanley set a $110.00 price target on Arch Capital Group and gave the company an “overweight” rating in a research report on Monday, May 19th. Barclays reduced their price target on Arch Capital Group from $100.00 to $93.00 and set an “equal weight” rating for the company in a research report on Friday, April 11th. JMP Securities reissued a “market outperform” rating and issued a $125.00 price objective on shares of Arch Capital Group in a report on Wednesday, April 30th. Royal Bank of Canada dropped their price objective on Arch Capital Group from $125.00 to $110.00 and set an “outperform” rating on the stock in a report on Wednesday, February 12th. Finally, Jefferies Financial Group lowered Arch Capital Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $106.00 to $100.00 in a report on Tuesday. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $114.63.

Insider Transactions at Arch Capital Group

In other Arch Capital Group news, CEO Nicolas Papadopoulo sold 7,636 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $92.48, for a total value of $706,177.28. Following the completion of the sale, the chief executive officer now directly owns 795,718 shares in the company, valued at $73,588,000.64. This represents a 0.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Francois Morin sold 12,630 shares of the company’s stock in a transaction 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 sale, the chief financial officer now owns 274,681 shares of the company’s stock, valued at approximately $25,979,328.98. The trade was a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,976 shares of company stock valued at $10,531,038 over the last ninety days. Insiders own 4.20% of the company’s stock.

Arch Capital Group 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.