Arch Capital Group Ltd. $ACGL Stock: Cooke & Bieler LP Reduces Holdings

Cooke & Bieler LP cut its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 17.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,831,651 shares of the insurance provider’s stock after selling 387,797 shares during the period. Arch Capital Group makes up 2.5% of Cooke & Bieler LP’s portfolio, making the stock its 6th biggest holding. Cooke & Bieler LP’s holdings in Arch Capital Group were worth $169,171,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Horizons Wealth Management acquired a new position in shares of Arch Capital Group in the third quarter valued at approximately $25,000. Torren Management LLC increased its holdings in Arch Capital Group by 66.9% during the 2nd quarter. Torren Management LLC now owns 292 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 117 shares during the period. Continuum Advisory LLC purchased a new position in shares of Arch Capital Group in the 2nd quarter valued at about $46,000. MidFirst Bank acquired a new position in shares of Arch Capital Group during the fourth quarter worth about $46,000. Finally, Allied Private Wealth LLC purchased a new stake in shares of Arch Capital Group during the second quarter worth approximately $69,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ACGL shares. JPMorgan Chase & Co. dropped their target price on Arch Capital Group from $118.00 to $113.00 and set a “neutral” rating on the stock in a report on Friday, October 9th. Mizuho set a $100.00 target price on Arch Capital Group and gave the stock a “neutral” rating in a research report on Wednesday, September 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $120.00 price target (up from $115.00) on shares of Arch Capital Group in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Arch Capital Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 9th. Finally, Morgan Stanley set a $100.00 price target on Arch Capital Group and gave the stock an “equal weight” rating in a report on Tuesday, October 13th. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Arch Capital Group has an average rating of “Hold” and an average price target of $108.39.

Insider Activity

In other news, CFO Francois Morin sold 11,010 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $99.32, for a total value of $1,093,513.20. Following the completion of the transaction, the chief financial officer owned 184,826 shares of the company’s stock, valued at $18,356,918.32. The trade was a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.30% of the stock is owned by corporate insiders.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $100.28 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a market cap of $34.22 billion, a PE ratio of 7.84, a P/E/G ratio of 3.05 and a beta of 0.28. Arch Capital Group Ltd. has a 1 year low of $82.44 and a 1 year high of $107.08. The stock has a fifty day moving average price of $97.33 and a 200 day moving average price of $96.82.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.09. Arch Capital Group had a net margin of 24.40% and a return on equity of 17.06%. The company had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the prior year, the firm earned $2.58 earnings per share. Sell-side analysts forecast that Arch Capital Group Ltd. will post 9.70 earnings per share for the current fiscal year.

About Arch Capital Group

Arch Capital Group Ltd. is a Bermuda-based insurance, reinsurance and mortgage insurance company whose shares trade on the Nasdaq under the symbol ACGL. The company was established in 1995 and has developed into a global provider of specialty risk-management products and services.

Through its insurance operations, Arch offers property, casualty, specialty, and accident and health coverage to businesses and other policyholders. Its reinsurance operations provide coverage and risk-transfer solutions to insurance companies across a range of property and casualty lines.