JPMorgan Chase & Co. Sells 1,449,531 Shares of Arch Capital Group Ltd. $ACGL

JPMorgan Chase & Co. trimmed its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 17.7% during the 4th quarter, Holdings Channel reports. The firm owned 6,741,396 shares of the insurance provider’s stock after selling 1,449,531 shares during the period. JPMorgan Chase & Co.’s holdings in Arch Capital Group were worth $646,635,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Daymark Wealth Partners LLC raised its position in shares of Arch Capital Group by 3.4% during the 4th quarter. Daymark Wealth Partners LLC now owns 3,211 shares of the insurance provider’s stock valued at $308,000 after purchasing an additional 106 shares during the period. Keel Point LLC raised its position in shares of Arch Capital Group by 4.6% during the 3rd quarter. Keel Point LLC now owns 2,524 shares of the insurance provider’s stock valued at $229,000 after purchasing an additional 112 shares during the period. Legacy Advisors LLC raised its position in shares of Arch Capital Group by 1.2% during the 4th quarter. Legacy Advisors LLC now owns 9,551 shares of the insurance provider’s stock valued at $916,000 after purchasing an additional 112 shares during the period. Compound Planning Inc. raised its position in shares of Arch Capital Group by 5.0% during the 3rd quarter. Compound Planning Inc. now owns 2,644 shares of the insurance provider’s stock valued at $240,000 after purchasing an additional 127 shares during the period. Finally, TD Waterhouse Canada Inc. raised its position in shares of Arch Capital Group by 72.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 323 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 136 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Arch Capital Group news, Director Daniel Joseph Houston acquired 5,300 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was acquired at an average cost of $94.08 per share, with a total value of $498,624.00. Following the purchase, the director directly owned 9,915 shares of the company’s stock, valued at approximately $932,803.20. This represents a 114.84% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brian S. Posner sold 3,000 shares of Arch Capital Group stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total transaction of $58,980.00. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Arch Capital Group from $105.00 to $102.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 5th. Weiss Ratings cut shares of Arch Capital Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. UBS Group reaffirmed a “buy” rating and set a $114.00 target price (up from $113.00) on shares of Arch Capital Group in a research note on Tuesday, February 17th. Royal Bank Of Canada raised their target price on shares of Arch Capital Group from $108.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Finally, JPMorgan Chase & Co. cut their target price on shares of Arch Capital Group from $117.00 to $110.00 and set a “neutral” rating for the company in a research note on Monday, April 20th. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $106.81.

Arch Capital Group Stock Performance

Shares of NASDAQ:ACGL opened at $90.41 on Wednesday. Arch Capital Group Ltd. has a 52 week low of $82.44 and a 52 week high of $103.39. The stock has a market capitalization of $31.59 billion, a P/E ratio of 6.94, a PEG ratio of 4.92 and a beta of 0.32. The firm has a fifty day simple moving average of $94.71 and a two-hundred day simple moving average of $95.04. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.15.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $2.50 EPS for the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. The business had revenue of $4.52 billion during the quarter. On average, analysts expect that Arch Capital Group Ltd. will post 9.29 earnings per share for the current fiscal year.

Arch Capital Group Profile

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.