Meritage Portfolio Management Reduces Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Meritage Portfolio Management reduced its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,810 shares of the insurance provider’s stock after selling 440 shares during the quarter. Meritage Portfolio Management’s holdings in Arch Capital Group were worth $5,779,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of ACGL. Envestnet Asset Management Inc. grew its holdings in shares of Arch Capital Group by 112.4% during the third quarter. Envestnet Asset Management Inc. now owns 2,620,807 shares of the insurance provider’s stock worth $208,905,000 after buying an additional 1,387,072 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Arch Capital Group by 597.9% in the 3rd quarter. Hsbc Holdings PLC now owns 1,419,944 shares of the insurance provider’s stock valued at $113,516,000 after acquiring an additional 1,216,498 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Arch Capital Group by 316.7% during the 3rd quarter. Assetmark Inc. now owns 977,982 shares of the insurance provider’s stock worth $77,955,000 after purchasing an additional 743,303 shares during the period. Invesco Ltd. lifted its stake in shares of Arch Capital Group by 16.3% during the 3rd quarter. Invesco Ltd. now owns 3,385,665 shares of the insurance provider’s stock worth $269,871,000 after purchasing an additional 475,464 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of Arch Capital Group during the fourth quarter worth $295,440,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ACGL. JMP Securities reiterated a “market outperform” rating and issued a $100.00 target price on shares of Arch Capital Group in a research note on Monday, April 15th. StockNews.com lowered shares of Arch Capital Group from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Morgan Stanley upped their price target on shares of Arch Capital Group from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. UBS Group decreased their price target on shares of Arch Capital Group from $101.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, January 10th. Finally, JPMorgan Chase & Co. lifted their target price on Arch Capital Group from $88.00 to $92.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.23.

Arch Capital Group Stock Down 1.3 %

Shares of NASDAQ ACGL traded down $1.24 during trading on Friday, reaching $91.81. 504,175 shares of the stock were exchanged, compared to its average volume of 1,683,547. The business’s 50-day moving average price is $90.24 and its 200 day moving average price is $84.34. The company has a market capitalization of $34.44 billion, a price-to-earnings ratio of 8.01, a price-to-earnings-growth ratio of 1.16 and a beta of 0.57. Arch Capital Group Ltd. has a twelve month low of $69.05 and a twelve month high of $95.01. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.17.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Thursday, February 15th. The insurance provider reported $2.49 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.55. Arch Capital Group had a return on equity of 21.94% and a net margin of 32.59%. The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same period last year, the firm earned $2.14 earnings per share. As a group, equities analysts forecast that Arch Capital Group Ltd. will post 8.03 EPS for the current fiscal year.

Insider Activity

In related news, insider Nicolas Papadopoulo sold 60,000 shares of Arch Capital Group stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $87.52, for a total value of $5,251,200.00. Following the completion of the transaction, the insider now directly owns 651,931 shares in the company, valued at $57,057,001.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Maamoun Rajeh sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $87.48, for a total transaction of $4,374,000.00. Following the completion of the transaction, the chief executive officer now owns 336,170 shares in the company, valued at approximately $29,408,151.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicolas Papadopoulo sold 60,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $87.52, for a total value of $5,251,200.00. Following the transaction, the insider now owns 651,931 shares of the company’s stock, valued at $57,057,001.12. The disclosure for this sale can be found here. In the last three months, insiders sold 135,689 shares of company stock worth $11,872,217. 4.20% of the stock is currently owned by insiders.

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.