Sterling Capital Management LLC Lowers Position in Arch Capital Group Ltd. $ACGL

Sterling Capital Management LLC lowered its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 44.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,846 shares of the insurance provider’s stock after selling 9,301 shares during the quarter. Sterling Capital Management LLC’s holdings in Arch Capital Group were worth $1,137,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Elyxium Wealth LLC purchased a new stake in Arch Capital Group during the fourth quarter worth about $27,000. WealthCollab LLC boosted its stake in shares of Arch Capital Group by 410.3% in the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 238 shares during the period. JPL Wealth Management LLC acquired a new position in shares of Arch Capital Group in the third quarter valued at approximately $28,000. Aventura Private Wealth LLC acquired a new position in shares of Arch Capital Group in the fourth quarter valued at approximately $30,000. Finally, Grove Bank & Trust purchased a new stake in Arch Capital Group during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $97.06 on Wednesday. The company has a market cap of $33.91 billion, a P/E ratio of 7.45, a PEG ratio of 4.90 and a beta of 0.32. The firm has a fifty day moving average price of $93.66 and a 200 day moving average price of $95.14. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.15. Arch Capital Group Ltd. has a 12 month low of $82.44 and a 12 month high of $103.39.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share for the quarter. The company had revenue of $4.52 billion for the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%. Sell-side analysts predict that Arch Capital Group Ltd. will post 9.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ACGL has been the topic of a number of research reports. Mizuho reduced their target price on shares of Arch Capital Group from $102.00 to $101.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. Keefe, Bruyette & Woods cut their price objective on Arch Capital Group from $105.00 to $102.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 5th. Barclays increased their price objective on Arch Capital Group from $104.00 to $106.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Morgan Stanley set a $105.00 target price on Arch Capital Group in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. lowered their target price on Arch Capital Group from $117.00 to $110.00 and set a “neutral” rating for the company in a research note on Monday, April 20th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $106.81.

Insider Activity

In related news, Director Brian S. Posner sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total value of $58,980.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Joseph Houston purchased 5,300 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was bought at an average price of $94.08 per share, for a total transaction of $498,624.00. Following the completion of the purchase, the director directly owned 9,915 shares of the company’s stock, valued at $932,803.20. The trade was a 114.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 3.30% of the stock is currently owned by company insiders.

Arch Capital Group Company Profile

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.