Aigen Investment Management LP Cuts Stake in Arch Capital Group Ltd. $ACGL

Aigen Investment Management LP reduced its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 35.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,553 shares of the insurance provider’s stock after selling 5,874 shares during the period. Aigen Investment Management LP’s holdings in Arch Capital Group were worth $1,012,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Elyxium Wealth LLC purchased a new stake in Arch Capital Group during the 4th quarter worth approximately $27,000. WealthCollab LLC increased its stake in Arch Capital Group by 410.3% during the 3rd quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock worth $27,000 after buying an additional 238 shares during the period. JPL Wealth Management LLC purchased a new stake in Arch Capital Group during the 3rd quarter worth approximately $28,000. Aventura Private Wealth LLC purchased a new stake in Arch Capital Group during the 4th quarter worth approximately $30,000. Finally, Grove Bank & Trust purchased a new stake in Arch Capital Group during the 4th quarter worth approximately $30,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 target price (up from $97.00) on shares of Arch Capital Group in a research note on Tuesday, February 17th. UBS Group reissued a “buy” rating and issued a $114.00 price objective (up from $113.00) on shares of Arch Capital Group in a research report on Tuesday, February 17th. Morgan Stanley set a $105.00 price objective on shares of Arch Capital Group in a research report on Friday, May 1st. Keefe, Bruyette & Woods dropped 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. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Arch Capital Group from $117.00 to $110.00 and set a “neutral” rating on the stock in a research report on Monday, April 20th. Eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Arch Capital Group currently has a consensus rating of “Hold” and an average price target of $106.81.

Arch Capital Group Stock Performance

Shares of NASDAQ:ACGL opened at $91.66 on Monday. Arch Capital Group Ltd. has a 52 week low of $82.44 and a 52 week high of $103.39. The company’s 50 day moving average is $94.45 and its two-hundred day moving average is $95.03. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.15. The company has a market cap of $32.03 billion, a PE ratio of 7.04, a P/E/G ratio of 4.58 and a beta of 0.32.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $2.50 EPS for the quarter. The company had revenue of $4.52 billion for the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. Equities analysts predict that Arch Capital Group Ltd. will post 9.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Brian S. Posner sold 3,000 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total value of $58,980.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel Joseph Houston bought 5,300 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was bought at an average cost of $94.08 per share, for a total transaction of $498,624.00. Following the completion of the transaction, the director directly owned 9,915 shares in the company, valued at approximately $932,803.20. The trade was a 114.84% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 3.30% of the company’s stock.

About Arch Capital Group

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.