Thoroughbred Financial Services LLC Cuts Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Thoroughbred Financial Services LLC reduced its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 53.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,374 shares of the insurance provider’s stock after selling 10,692 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Arch Capital Group were worth $865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of ACGL. World Investment Advisors lifted its stake in Arch Capital Group by 5.9% during the fourth quarter. World Investment Advisors now owns 2,952 shares of the insurance provider’s stock worth $273,000 after purchasing an additional 165 shares during the last quarter. Huntington National Bank raised its holdings in shares of Arch Capital Group by 9.0% during the 4th quarter. Huntington National Bank now owns 2,517 shares of the insurance provider’s stock valued at $232,000 after buying an additional 208 shares in the last quarter. RFG Bristol Wealth Advisors LLC bought a new stake in Arch Capital Group in the 4th quarter worth approximately $1,167,000. Groupama Asset Managment purchased a new stake in Arch Capital Group in the fourth quarter worth approximately $540,000. Finally, Headlands Technologies LLC grew its position in Arch Capital Group by 43.9% during the fourth quarter. Headlands Technologies LLC now owns 29,943 shares of the insurance provider’s stock valued at $2,765,000 after acquiring an additional 9,137 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Arch Capital Group Stock Performance

Shares of ACGL opened at $87.83 on Friday. The company has a market cap of $33.00 billion, a price-to-earnings ratio of 7.84, a P/E/G ratio of 2.31 and a beta of 0.36. The business’s fifty day simple moving average is $92.23 and its two-hundred day simple moving average is $97.57. Arch Capital Group Ltd. has a 12 month low of $87.42 and a 12 month high of $116.47. The company has a current ratio of 0.54, a quick ratio of 0.58 and a debt-to-equity ratio of 0.15.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Monday, February 10th. The insurance provider reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.36. Arch Capital Group had a net margin of 24.73% and a return on equity of 17.96%. During the same quarter in the previous year, the company posted $2.45 EPS. Research analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Arch Capital Group

In other Arch Capital Group news, insider Louis T. Petrillo sold 11,600 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $91.00, for a total value of $1,055,600.00. Following the transaction, the insider now owns 140,023 shares of the company’s stock, valued at approximately $12,742,093. This represents a 7.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ACGL shares. UBS Group cut their price objective on shares of Arch Capital Group from $131.00 to $127.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods reduced their price objective on Arch Capital Group from $120.00 to $113.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Royal Bank of Canada lowered their target price on Arch Capital Group from $125.00 to $110.00 and set an “outperform” rating for the company in a research note on Wednesday, February 12th. Wells Fargo & Company reduced their price target on Arch Capital Group from $107.00 to $106.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 12th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $125.00 price objective on shares of Arch Capital Group in a research report on Tuesday, February 11th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Arch Capital Group currently has a consensus rating of “Moderate Buy” and an average target price of $117.19.

About Arch Capital Group

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.