3Chopt Investment Partners LLC Sells 2,527 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

3Chopt Investment Partners LLC lessened its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 6.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,288 shares of the insurance provider’s stock after selling 2,527 shares during the period. Arch Capital Group comprises about 1.1% of 3Chopt Investment Partners LLC’s holdings, making the stock its 16th biggest position. 3Chopt Investment Partners LLC’s holdings in Arch Capital Group were worth $3,560,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACGL. Gladstone Capital Management LLP lifted its holdings in Arch Capital Group by 52.8% during the fourth quarter. Gladstone Capital Management LLP now owns 1,385,307 shares of the insurance provider’s stock valued at $102,887,000 after purchasing an additional 478,570 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Arch Capital Group by 61.6% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,191,282 shares of the insurance provider’s stock valued at $237,017,000 after acquiring an additional 1,216,080 shares during the period. State Board of Administration of Florida Retirement System lifted its position in shares of Arch Capital Group by 5.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 431,105 shares of the insurance provider’s stock worth $39,851,000 after acquiring an additional 21,332 shares in the last quarter. Alaska Permanent Fund Corp lifted its position in shares of Arch Capital Group by 42.2% during the first quarter. Alaska Permanent Fund Corp now owns 54,578 shares of the insurance provider’s stock worth $5,045,000 after acquiring an additional 16,208 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Arch Capital Group by 2.6% in the second quarter. Sequoia Financial Advisors LLC now owns 20,871 shares of the insurance provider’s stock worth $2,106,000 after acquiring an additional 519 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Price Performance

ACGL opened at $111.88 on Tuesday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $42.01 billion, a P/E ratio of 8.83, a PEG ratio of 2.05 and a beta of 0.60. The stock has a 50-day moving average price of $106.05 and a 200-day moving average price of $100.03. Arch Capital Group Ltd. has a 12-month low of $72.85 and a 12-month high of $114.69.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. The business had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the business earned $1.92 earnings per share. Equities analysts predict that Arch Capital Group Ltd. will post 9.01 earnings per share for the current fiscal year.

Insider Activity

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the sale, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at $22,723,476.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ACGL has been the topic of a number of recent research reports. Citigroup increased their price objective on Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. JMP Securities upped their target price on shares of Arch Capital Group from $110.00 to $115.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 31st. Wells Fargo & Company cut their price target on shares of Arch Capital Group from $111.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, August 12th. TD Cowen upped their price target on shares of Arch Capital Group from $116.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Finally, Bank of America dropped their price objective on Arch Capital Group from $119.00 to $118.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $113.73.

Arch Capital Group Company 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.