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

Meritage Portfolio Management reduced its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ACGL. Householder Group Estate & Retirement Specialist LLC purchased a new position in Arch Capital Group during the fourth quarter valued at $27,000. Larson Financial Group LLC purchased a new stake in Arch Capital Group during the 4th quarter valued at about $30,000. Steward Financial Group LLC grew its holdings in shares of Arch Capital Group by 180.7% during the third quarter. Steward Financial Group LLC now owns 525 shares of the insurance provider’s stock valued at $41,000 after buying an additional 338 shares during the last quarter. CVA Family Office LLC bought a new stake in shares of Arch Capital Group during the fourth quarter valued at approximately $47,000. Finally, Covestor Ltd boosted its stake in Arch Capital Group by 342.9% during the 3rd quarter. Covestor Ltd now owns 899 shares of the insurance provider’s stock valued at $72,000 after purchasing an additional 696 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Price Performance

Shares of Arch Capital Group stock traded down $1.24 on Friday, hitting $91.81. 504,175 shares of the company traded hands, compared to its average volume of 1,683,547. The stock has a market capitalization of $34.44 billion, a P/E ratio of 8.01, a price-to-earnings-growth ratio of 1.16 and a beta of 0.57. The business has a 50-day simple moving average of $90.24 and a 200 day simple moving average of $84.34. Arch Capital Group Ltd. has a 52 week low of $69.05 and a 52 week high of $95.01. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.57 and a current ratio of 0.57.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Thursday, February 15th. The insurance provider reported $2.49 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.67 billion. During the same period in the previous year, the business earned $2.14 earnings per share. Research analysts expect that Arch Capital Group Ltd. will post 8.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Arch Capital Group

In other Arch Capital Group news, insider Nicolas Papadopoulo sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $87.52, for a total transaction of $5,251,200.00. Following the sale, the insider now directly owns 651,931 shares of the company’s stock, valued at $57,057,001.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Francois Morin sold 25,689 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $87.47, for a total value of $2,247,016.83. Following the transaction, the chief financial officer now owns 221,779 shares of the company’s stock, valued at $19,399,009.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 completion of the sale, 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. Insiders sold 135,689 shares of company stock worth $11,872,217 over the last 90 days. 4.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ACGL has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Arch Capital Group from $88.00 to $92.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. JMP Securities reiterated a “market outperform” rating and set a $100.00 target price on shares of Arch Capital Group in a research note on Monday, April 15th. Evercore ISI lifted their price objective on Arch Capital Group from $92.00 to $100.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. UBS Group lowered their target price on 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, TD Cowen assumed coverage on shares of Arch Capital Group in a research report on Wednesday, January 10th. They set an “outperform” rating and a $96.00 price target for the company. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $96.23.

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.