Thoroughbred Financial Services LLC Sells 10,692 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Thoroughbred Financial Services LLC reduced its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 53.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,374 shares of the insurance provider's stock after selling 10,692 shares during the quarter. Thoroughbred Financial Services LLC's holdings in Arch Capital Group were worth $865,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ACGL. Principal Financial Group Inc. grew its stake in Arch Capital Group by 4.8% during the third quarter. Principal Financial Group Inc. now owns 7,438,738 shares of the insurance provider's stock worth $832,246,000 after buying an additional 337,786 shares during the period. Quantbot Technologies LP bought a new stake in shares of Arch Capital Group in the 3rd quarter worth about $25,000. Janus Henderson Group PLC raised its stake in Arch Capital Group by 1.4% during the third quarter. Janus Henderson Group PLC now owns 44,916 shares of the insurance provider's stock valued at $5,025,000 after buying an additional 600 shares in the last quarter. Royal London Asset Management Ltd. lifted its stake in Arch Capital Group by 8.0% during the third quarter. Royal London Asset Management Ltd. now owns 258,101 shares of the insurance provider's stock worth $28,876,000 after purchasing an additional 19,122 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Arch Capital Group by 1.1% in the 3rd quarter. State Street Corp now owns 16,587,446 shares of the insurance provider's stock worth $1,855,803,000 after buying an additional 172,628 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

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Arch Capital Group Stock Performance

Arch Capital Group stock traded up $1.55 during trading on Friday, hitting $92.13. The stock had a trading volume of 1,928,388 shares, compared to its average volume of 1,738,633. The company has a quick ratio of 0.58, a current ratio of 0.54 and a debt-to-equity ratio of 0.15. The stock's 50 day moving average is $91.52 and its two-hundred day moving average is $96.51. Arch Capital Group Ltd. has a 1 year low of $82.49 and a 1 year high of $116.47. The stock has a market cap of $34.61 billion, a price-to-earnings ratio of 8.23, a price-to-earnings-growth ratio of 2.31 and a beta of 0.36.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The insurance provider reported $2.26 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.36. Arch Capital Group had a return on equity of 17.96% and a net margin of 24.73%. During the same period in the previous year, the firm earned $2.45 earnings per share. As a group, analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Insiders Place Their Bets

In other news, insider Louis T. Petrillo sold 11,600 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $91.00, for a total transaction of $1,055,600.00. Following the completion of the sale, the insider now directly owns 140,023 shares in the company, valued at approximately $12,742,093. This represents a 7.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ACGL shares. Keefe, Bruyette & Woods reduced their price target on shares of Arch Capital Group from $120.00 to $113.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Morgan Stanley dropped their price target on shares of Arch Capital Group from $115.00 to $110.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Royal Bank of Canada reduced their price objective on Arch Capital Group from $125.00 to $110.00 and set an "outperform" rating for the company in a research note on Wednesday, February 12th. Wells Fargo & Company dropped their target price on shares of Arch Capital Group from $107.00 to $106.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group upped their price target on Arch Capital Group from $105.00 to $106.00 and gave the company a "buy" rating in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, Arch Capital Group presently has an average rating of "Moderate Buy" and a consensus target price of $114.88.

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.