UBS Group AG lessened its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL – Get Rating) by 19.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 243,553 shares of the insurance provider’s stock after selling 59,638 shares during the period. UBS Group AG owned 0.07% of Arch Capital Group worth $11,093,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the business. Heritage Wealth Management LLC acquired a new position in shares of Arch Capital Group during the second quarter valued at approximately $34,000. Private Trust Co. NA acquired a new position in shares of Arch Capital Group during the second quarter valued at approximately $36,000. CoreCap Advisors LLC acquired a new position in shares of Arch Capital Group during the second quarter valued at approximately $42,000. Signaturefd LLC grew its position in Arch Capital Group by 25.7% in the third quarter. Signaturefd LLC now owns 1,100 shares of the insurance provider’s stock worth $50,000 after buying an additional 225 shares during the last quarter. Finally, Covestor Ltd grew its position in Arch Capital Group by 4,956.5% in the first quarter. Covestor Ltd now owns 1,163 shares of the insurance provider’s stock worth $56,000 after buying an additional 1,140 shares during the last quarter. Institutional investors own 88.78% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on ACGL. Wells Fargo & Company lifted their price target on shares of Arch Capital Group from $72.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 15th. JMP Securities lifted their price objective on shares of Arch Capital Group from $70.00 to $75.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 14th. StockNews.com raised shares of Arch Capital Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 15th. Keefe, Bruyette & Woods lifted their price objective on shares of Arch Capital Group from $69.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, February 16th. Finally, Morgan Stanley lifted their price objective on shares of Arch Capital Group from $52.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 22nd. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Arch Capital Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.56.
Arch Capital Group Stock Performance
Arch Capital Group (NASDAQ:ACGL – Get Rating) last posted its earnings results on Tuesday, February 14th. The insurance provider reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.80. The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.68 billion. Arch Capital Group had a net margin of 15.34% and a return on equity of 16.11%. During the same quarter in the previous year, the firm posted $1.27 earnings per share. Equities research analysts anticipate that Arch Capital Group Ltd. will post 6.01 earnings per share for the current year.
Insider Activity at Arch Capital Group
In other Arch Capital Group news, CFO Francois Morin sold 15,814 shares of the business’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $67.61, for a total value of $1,069,184.54. Following the transaction, the chief financial officer now directly owns 185,869 shares in the company, valued at $12,566,603.09. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Francois Morin sold 15,814 shares of the company’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $67.61, for a total transaction of $1,069,184.54. Following the transaction, the chief financial officer now directly owns 185,869 shares in the company, valued at $12,566,603.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John M. Pasquesi sold 26,329 shares of the stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $67.01, for a total transaction of $1,764,306.29. Following the completion of the transaction, the insider now owns 756,635 shares in the company, valued at $50,702,111.35. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by insiders.
Arch Capital Group Profile
Arch Capital Group Ltd. engages in the provision of property and casualty insurance and reinsurance lines. It operates through the following segments: Insurance, Reinsurance, Mortgage, Corporate, and Other. The Insurance segment consists of insurance underwriting units which offer specialty product lines like construction and national accounts, excess and surplus casualty, lenders products, professional lines, and programs.
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