Clearbridge Investments LLC Sells 119,041 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Clearbridge Investments LLC lessened its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 15.8% during the 2nd quarter, Holdings Channel reports. The firm owned 635,610 shares of the insurance provider’s stock after selling 119,041 shares during the period. Clearbridge Investments LLC’s holdings in Arch Capital Group were worth $64,127,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ACGL. UMB Bank n.a. bought a new position in shares of Arch Capital Group during the second quarter worth $30,000. Baldwin Brothers LLC MA grew its position in shares of Arch Capital Group by 50.7% during the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 104 shares in the last quarter. Richardson Financial Services Inc. bought a new stake in shares of Arch Capital Group in the fourth quarter worth about $33,000. Rothschild Investment LLC purchased a new stake in shares of Arch Capital Group in the second quarter worth about $35,000. Finally, LRI Investments LLC bought a new position in Arch Capital Group during the first quarter valued at approximately $38,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Stock Up 0.2 %

NASDAQ:ACGL opened at $113.74 on Thursday. The company has a market cap of $42.71 billion, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 2.05 and a beta of 0.59. Arch Capital Group Ltd. has a twelve month low of $72.85 and a twelve month high of $114.69. 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 fifty day simple moving average of $106.74 and a 200-day simple moving average of $100.27.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.36. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The business had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the firm earned $1.92 EPS. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. Analysts anticipate that Arch Capital Group Ltd. will post 9.01 EPS for the current year.

Wall Street Analyst Weigh In

ACGL has been the topic of several recent research reports. StockNews.com cut Arch Capital Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. TD Cowen increased their price objective on shares of Arch Capital Group from $116.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Citigroup boosted their target price on shares of Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Bank of America lowered their price target on shares of Arch Capital Group from $119.00 to $118.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Finally, Royal Bank of Canada boosted their price objective on Arch Capital Group from $108.00 to $112.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $113.73.

Insider Buying and Selling

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

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.