Davis Asset Management L.P. Sells 100,000 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Davis Asset Management L.P. cut its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 15.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 550,000 shares of the insurance provider’s stock after selling 100,000 shares during the period. Arch Capital Group accounts for about 2.5% of Davis Asset Management L.P.’s investment portfolio, making the stock its 15th biggest position. Davis Asset Management L.P. owned approximately 0.15% of Arch Capital Group worth $55,490,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. UMB Bank n.a. bought a new stake in shares of Arch Capital Group during the second quarter worth approximately $30,000. Baldwin Brothers LLC MA raised its stake 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 worth $31,000 after buying an additional 104 shares during the last quarter. Richardson Financial Services Inc. bought a new stake in shares of Arch Capital Group during the fourth quarter worth approximately $33,000. Rothschild Investment LLC bought a new stake in shares of Arch Capital Group during the second quarter worth approximately $35,000. Finally, LRI Investments LLC bought a new stake in shares of Arch Capital Group during the first quarter worth approximately $38,000. 89.07% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Arch Capital Group from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Royal Bank of Canada boosted their price objective on shares of Arch Capital Group from $108.00 to $112.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. StockNews.com cut shares of Arch Capital Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Wells Fargo & Company decreased their price objective 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. Finally, Barclays assumed coverage on shares of Arch Capital Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Arch Capital Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.73.

Arch Capital Group Stock Up 1.6 %

Arch Capital Group stock opened at $113.24 on Friday. The stock has a market capitalization of $42.59 billion, a PE ratio of 8.94, a price-to-earnings-growth ratio of 2.07 and a beta of 0.60. Arch Capital Group Ltd. has a twelve month low of $72.85 and a twelve month high of $114.69. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average of $104.15 and a 200-day moving average of $98.97.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter in the prior year, the company posted $1.92 earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis. On average, equities research analysts anticipate that Arch Capital Group Ltd. will post 9.01 EPS for the current fiscal year.

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.