Arch Capital Group Ltd. $ACGL Stock: Schwartz Investment Counsel Inc. Cuts Holdings

Schwartz Investment Counsel Inc. reduced its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 84.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,000 shares of the insurance provider’s stock after selling 110,000 shares during the period. Schwartz Investment Counsel Inc.’s holdings in Arch Capital Group were worth $1,847,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ACGL. Center for Financial Planning Inc. acquired a new stake in Arch Capital Group during the 3rd quarter valued at $84,000. Sunesis Advisors LLC purchased a new position in Arch Capital Group during the third quarter worth $418,000. Apollon Wealth Management LLC increased its position in Arch Capital Group by 15.5% during the third quarter. Apollon Wealth Management LLC now owns 8,155 shares of the insurance provider’s stock worth $753,000 after buying an additional 1,096 shares in the last quarter. Signaturefd LLC increased its position in Arch Capital Group by 2.8% during the third quarter. Signaturefd LLC now owns 5,186 shares of the insurance provider’s stock worth $479,000 after buying an additional 140 shares in the last quarter. Finally, Citizens Financial Group Inc. RI raised its holdings in shares of Arch Capital Group by 37.3% in the third quarter. Citizens Financial Group Inc. RI now owns 22,542 shares of the insurance provider’s stock worth $2,082,000 after acquiring an additional 6,126 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Stock Performance

Shares of NASDAQ ACGL opened at $100.34 on Wednesday. The firm has a market cap of $34.24 billion, a P/E ratio of 7.85 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 firm’s 50 day moving average price is $97.62 and its 200 day moving average price is $96.63.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Tuesday, October 27th. The insurance provider reported $2.67 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.36. The business had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same quarter last year, the firm posted $2.77 earnings per share. As a group, equities analysts predict that Arch Capital Group Ltd. will post 9.77 EPS for the current year.

Insider Activity at Arch Capital Group

In related news, CFO Francois Morin sold 11,010 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $99.32, for a total transaction of $1,093,513.20. Following the transaction, the chief financial officer directly owned 184,826 shares in the company, valued at approximately $18,356,918.32. This represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Citigroup restated a “market outperform” rating on shares of Arch Capital Group in a research report on Wednesday, July 29th. UBS Group reiterated a “buy” rating and set a $120.00 price objective (up from $114.00) on shares of Arch Capital Group in a research report on Wednesday, July 8th. Cantor Fitzgerald cut their target price on shares of Arch Capital Group from $110.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, October 7th. Atlantic Securities set a $126.00 target price on shares of Arch Capital Group in a research note on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of Arch Capital Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 9th. Six investment 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $108.39.

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.