Artisan Partners Limited Partnership Sells 313,470 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Artisan Partners Limited Partnership trimmed its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,390,647 shares of the insurance provider’s stock after selling 313,470 shares during the quarter. Arch Capital Group accounts for about 3.2% of Artisan Partners Limited Partnership’s portfolio, making the stock its largest position. Artisan Partners Limited Partnership owned 0.06% of Arch Capital Group worth $2,160,126,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Arch Capital Group by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 41,999,603 shares of the insurance provider’s stock worth $3,878,663,000 after purchasing an additional 182,150 shares during the last quarter. State Street Corp lifted its stake in shares of Arch Capital Group by 1.1% in the third quarter. State Street Corp now owns 16,587,446 shares of the insurance provider’s stock worth $1,855,803,000 after acquiring an additional 172,628 shares during the period. Geode Capital Management LLC boosted its holdings in Arch Capital Group by 2.4% in the third quarter. Geode Capital Management LLC now owns 10,830,263 shares of the insurance provider’s stock valued at $1,208,307,000 after acquiring an additional 253,648 shares during the last quarter. Principal Financial Group Inc. increased its position in Arch Capital Group by 10.5% during the 4th quarter. Principal Financial Group Inc. now owns 8,222,244 shares of the insurance provider’s stock valued at $759,324,000 after purchasing an additional 783,506 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Arch Capital Group by 4.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,350,868 shares of the insurance provider’s stock worth $488,992,000 after purchasing an additional 226,617 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on ACGL. JPMorgan Chase & Co. decreased their price target on Arch Capital Group from $110.00 to $106.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Keefe, Bruyette & Woods dropped their target price on shares of Arch Capital Group from $120.00 to $113.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Wells Fargo & Company reduced their price objective on Arch Capital Group from $107.00 to $106.00 and set an “overweight” rating for the company in a research note on Wednesday, February 12th. Royal Bank of Canada decreased their target price on shares of Arch Capital Group from $125.00 to $110.00 and set an “outperform” rating for the company in a research report on Wednesday, February 12th. Finally, Barclays dropped their price objective on Arch Capital Group from $120.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Arch Capital Group presently has an average rating of “Moderate Buy” and an average price target of $117.19.

Arch Capital Group Stock Up 1.4 %

ACGL opened at $95.93 on Thursday. Arch Capital Group Ltd. has a 12 month low of $87.42 and a 12 month high of $116.47. The company has a market cap of $36.01 billion, a PE ratio of 8.57, a price-to-earnings-growth ratio of 2.31 and a beta of 0.62. 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 company has a 50 day moving average of $92.15 and a 200 day moving average of $98.39.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Monday, February 10th. The insurance provider reported $2.26 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.36. Arch Capital Group had a return on equity of 17.96% and a net margin of 24.73%. During the same period in the previous year, the firm earned $2.45 earnings per share. On average, sell-side analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Insider Activity

In related news, insider Louis T. Petrillo sold 11,600 shares of the business’s stock in a transaction that occurred 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 approximately $12,742,093. The trade was a 7.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.