Montag A & Associates Inc. Trims Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Montag A & Associates Inc. lowered its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 5.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,226 shares of the insurance provider’s stock after selling 1,659 shares during the quarter. Montag A & Associates Inc.’s holdings in Arch Capital Group were worth $2,517,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ACGL. Capital World Investors boosted its stake in shares of Arch Capital Group by 0.6% during the fourth quarter. Capital World Investors now owns 10,611,092 shares of the insurance provider’s stock valued at $788,086,000 after purchasing an additional 58,862 shares in the last quarter. Principal Financial Group Inc. boosted its position in Arch Capital Group by 11.4% during the 1st quarter. Principal Financial Group Inc. now owns 6,800,236 shares of the insurance provider’s stock valued at $628,614,000 after acquiring an additional 693,608 shares in the last quarter. Davis Asset Management L.P. increased its holdings in shares of Arch Capital Group by 441.7% in the 4th quarter. Davis Asset Management L.P. now owns 6,500,000 shares of the insurance provider’s stock valued at $482,755,000 after acquiring an additional 5,300,000 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Arch Capital Group by 1.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,907,122 shares of the insurance provider’s stock valued at $546,054,000 after acquiring an additional 99,329 shares during the period. Finally, Norges Bank bought a new position in shares of Arch Capital Group in the 4th quarter worth $309,496,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ACGL. StockNews.com raised shares of Arch Capital Group from a “hold” rating to a “buy” rating in a report on Thursday, July 4th. Roth Mkm reissued a “buy” rating and issued a $110.00 price target on shares of Arch Capital Group in a report on Tuesday, April 30th. Wells Fargo & Company raised their price target on Arch Capital Group from $109.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. raised their price target on Arch Capital Group from $96.00 to $106.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Arch Capital Group from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $102.87.

Insiders Place Their Bets

In other Arch Capital Group news, CEO David Gansberg sold 10,000 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $96.64, for a total transaction of $966,400.00. Following the sale, the chief executive officer now directly owns 228,035 shares of the company’s stock, valued at approximately $22,037,302.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.20% of the stock is owned by insiders.

Arch Capital Group Stock Performance

NASDAQ ACGL traded up $1.17 on Monday, reaching $97.67. 520,082 shares of the company’s stock traded hands, compared to its average volume of 1,705,383. The stock has a 50 day moving average price of $100.00 and a 200-day moving average price of $91.18. The firm has a market cap of $36.67 billion, a price-to-earnings ratio of 7.62, a P/E/G ratio of 1.61 and a beta of 0.58. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 0.59. Arch Capital Group Ltd. has a fifty-two week low of $72.85 and a fifty-two week high of $103.79.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.39. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $3.77 billion. Arch Capital Group had a return on equity of 21.85% and a net margin of 33.65%. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period last year, the firm earned $1.73 EPS. Equities research analysts predict that Arch Capital Group Ltd. will post 8.58 EPS for the current fiscal year.

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.