Westover Capital Advisors LLC Sells 6,440 Shares of Arch Capital Group Ltd. $ACGL

Westover Capital Advisors LLC reduced its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 55.3% in the 2nd quarter, Holdings Channel reports. The firm owned 5,207 shares of the insurance provider’s stock after selling 6,440 shares during the period. Westover Capital Advisors LLC’s holdings in Arch Capital Group were worth $474,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mainstay Capital Management LLC ADV acquired a new stake in Arch Capital Group during the second quarter worth $363,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of Arch Capital Group by 9.9% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 34,987 shares of the insurance provider’s stock worth $3,365,000 after acquiring an additional 3,158 shares during the period. Bryn Mawr Trust Advisors LLC bought a new position in shares of Arch Capital Group during the 2nd quarter worth about $371,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Arch Capital Group by 9.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 658,813 shares of the insurance provider’s stock valued at $63,365,000 after acquiring an additional 57,297 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp increased its stake in Arch Capital Group by 42.2% in the first quarter. OMERS ADMINISTRATION Corp now owns 45,026 shares of the insurance provider’s stock valued at $4,331,000 after acquiring an additional 13,357 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. UBS Group restated a “buy” rating and set a $118.00 price target (down previously from $124.00) on shares of Arch Capital Group in a research note on Monday, August 4th. Morgan Stanley raised their target price on Arch Capital Group from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday. The Goldman Sachs Group set a $88.00 price target on Arch Capital Group and gave the company a “sell” rating in a research report on Tuesday, October 14th. JPMorgan Chase & Co. lifted their price objective on Arch Capital Group from $110.00 to $111.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Arch Capital Group from $102.00 to $103.00 and gave the company a “market perform” rating in a research note on Thursday, August 14th. Seven 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. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $106.75.

Insider Buying and Selling

In other Arch Capital Group news, insider Maamoun Rajeh sold 10,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $94.15, for a total value of $941,500.00. Following the transaction, the insider owned 433,589 shares of the company’s stock, valued at approximately $40,822,404.35. This represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.20% of the company’s stock.

Arch Capital Group Trading Down 0.8%

ACGL stock opened at $91.81 on Tuesday. The business has a fifty day moving average price of $89.37 and a 200 day moving average price of $90.44. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.55 and a quick ratio of 0.56. Arch Capital Group Ltd. has a fifty-two week low of $82.44 and a fifty-two week high of $101.66. The stock has a market capitalization of $33.29 billion, a price-to-earnings ratio of 8.59, a P/E/G ratio of 3.24 and a beta of 0.47.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Monday, October 27th. The insurance provider reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $1.01. The firm had revenue of $3.96 billion during the quarter, compared to analyst estimates of $4.39 billion. Arch Capital Group had a net margin of 20.96% and a return on equity of 16.38%. During the same quarter in the previous year, the business earned $1.99 EPS. Analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

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.