Marshfield Associates Cuts Holdings in Arch Capital Group Ltd. (ACGL)
Marshfield Associates reduced its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,385,568 shares of the insurance provider’s stock after selling 20,854 shares during the period. Arch Capital Group accounts for approximately 9.1% of Marshfield Associates’ portfolio, making the stock its 2nd biggest holding. Marshfield Associates owned 1.06% of Arch Capital Group worth $136,478,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of ACGL. Citadel Advisors LLC raised its holdings in Arch Capital Group by 1,388.0% during the second quarter. Citadel Advisors LLC now owns 2,088,015 shares of the insurance provider’s stock valued at $194,792,000 after buying an additional 1,947,691 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Arch Capital Group by 5,723.3% in the second quarter. Janus Henderson Group PLC now owns 1,074,932 shares of the insurance provider’s stock worth $100,280,000 after purchasing an additional 1,056,473 shares during the period. Vanguard Group Inc. increased its stake in shares of Arch Capital Group by 7.7% in the second quarter. Vanguard Group Inc. now owns 10,331,707 shares of the insurance provider’s stock worth $963,845,000 after purchasing an additional 742,855 shares during the period. FMR LLC increased its stake in shares of Arch Capital Group by 21.0% in the second quarter. FMR LLC now owns 2,294,852 shares of the insurance provider’s stock worth $214,087,000 after purchasing an additional 398,988 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Arch Capital Group by 32.6% in the second quarter. Goldman Sachs Group Inc. now owns 1,609,474 shares of the insurance provider’s stock worth $150,148,000 after purchasing an additional 395,629 shares during the period. Institutional investors own 79.50% of the company’s stock.
Arch Capital Group Ltd. (ACGL) opened at $92.57 on Tuesday. Arch Capital Group Ltd. has a 12 month low of $84.21 and a 12 month high of $102.60. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market capitalization of $12,090.00, a PE ratio of 30.98, a P/E/G ratio of 2.59 and a beta of 0.67.
Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Wednesday, October 25th. The insurance provider reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.20). Arch Capital Group had a net margin of 9.44% and a return on equity of 5.57%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm earned $1.14 earnings per share. The company’s revenue was up 30.7% on a year-over-year basis. equities analysts anticipate that Arch Capital Group Ltd. will post 3.23 EPS for the current fiscal year.
ACGL has been the topic of a number of recent analyst reports. Buckingham Research initiated coverage on Arch Capital Group in a research note on Monday, September 11th. They issued a “buy” rating and a $106.00 price objective on the stock. UBS dropped their price objective on Arch Capital Group from $114.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, September 19th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $100.00 price objective on shares of Arch Capital Group in a research note on Thursday, September 21st. Zacks Investment Research lowered Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Finally, Barclays lifted their price objective on Arch Capital Group from $91.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Monday, October 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $100.80.
In related news, CEO Nicolas Papadopoulo sold 54,554 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $95.53, for a total transaction of $5,211,543.62. Following the transaction, the chief executive officer now directly owns 147,481 shares in the company, valued at $14,088,859.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.60% of the company’s stock.
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Arch Capital Group Company Profile
Arch Capital Group Ltd. provides insurance, reinsurance and mortgage insurance. The Company provides a range of property, casualty and mortgage insurance and reinsurance lines. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The insurance segment’s product lines include construction and national accounts; excess and surplus casualty; lenders products; professional lines; programs; property, energy, marine and aviation; travel, accident and health, and other.
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