Cloverfields Capital Group LP Sells 1,993 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Cloverfields Capital Group LP cut its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 17.9% during the 1st quarter, Holdings Channel.com reports. The fund owned 9,163 shares of the insurance provider’s stock after selling 1,993 shares during the period. Cloverfields Capital Group LP’s holdings in Arch Capital Group were worth $622,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Bleakley Financial Group LLC lifted its stake in Arch Capital Group by 1.3% during the 1st quarter. Bleakley Financial Group LLC now owns 11,293 shares of the insurance provider’s stock valued at $766,000 after acquiring an additional 150 shares in the last quarter. MAI Capital Management lifted its stake in Arch Capital Group by 3.1% during the 1st quarter. MAI Capital Management now owns 4,969 shares of the insurance provider’s stock valued at $337,000 after acquiring an additional 151 shares in the last quarter. Wetherby Asset Management Inc. lifted its stake in Arch Capital Group by 0.5% during the 1st quarter. Wetherby Asset Management Inc. now owns 33,045 shares of the insurance provider’s stock valued at $2,243,000 after acquiring an additional 170 shares in the last quarter. SG Americas Securities LLC lifted its stake in Arch Capital Group by 2.6% during the 1st quarter. SG Americas Securities LLC now owns 6,870 shares of the insurance provider’s stock valued at $466,000 after acquiring an additional 175 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Arch Capital Group by 0.3% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 62,703 shares of the insurance provider’s stock worth $4,256,000 after purchasing an additional 182 shares during the period. 87.21% of the stock is currently owned by institutional investors.

Arch Capital Group Price Performance

ACGL stock traded down $0.62 during mid-day trading on Friday, reaching $77.26. 1,330,114 shares of the company traded hands, compared to its average volume of 1,451,569. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market capitalization of $28.81 billion, a P/E ratio of 13.09, a P/E/G ratio of 1.16 and a beta of 0.72. Arch Capital Group Ltd. has a 52-week low of $41.05 and a 52-week high of $84.83. The company has a fifty day moving average price of $77.01 and a 200-day moving average price of $72.98.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Thursday, July 27th. The insurance provider reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.27. The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.19 billion. Arch Capital Group had a return on equity of 18.57% and a net margin of 19.31%. The company’s quarterly revenue was up 27.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.34 EPS. As a group, analysts anticipate that Arch Capital Group Ltd. will post 6.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ACGL. Morgan Stanley began coverage on Arch Capital Group in a research note on Tuesday, June 20th. They set an “overweight” rating and a $92.00 target price on the stock. StockNews.com cut Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Wells Fargo & Company lifted their target price on Arch Capital Group from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. Barclays lifted their target price on Arch Capital Group from $83.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. Finally, JMP Securities boosted their price objective on Arch Capital Group from $85.00 to $90.00 in a research note on Thursday, July 27th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.55.

About Arch Capital Group

Arch Capital Group Ltd. engages in the provision of property and casualty insurance and reinsurance lines. It operates through the following segments: Insurance, Reinsurance, Mortgage, Corporate, and Other. The Insurance segment consists of insurance underwriting units which offer specialty product lines like construction and national accounts, excess and surplus casualty, lenders products, professional lines, and programs.