California State Teachers Retirement System lessened its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 651,156 shares of the insurance provider’s stock after selling 5,505 shares during the quarter. California State Teachers Retirement System owned 0.16% of Arch Capital Group worth $17,399,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in ACGL. Capital International Investors purchased a new stake in Arch Capital Group in the 3rd quarter valued at approximately $393,068,000. Bank of New York Mellon Corp boosted its holdings in Arch Capital Group by 191.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,610,368 shares of the insurance provider’s stock valued at $42,611,000 after purchasing an additional 1,058,679 shares in the last quarter. BlackRock Inc. boosted its holdings in Arch Capital Group by 4.0% in the 4th quarter. BlackRock Inc. now owns 27,775,928 shares of the insurance provider’s stock valued at $742,173,000 after purchasing an additional 1,058,345 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Arch Capital Group by 40.9% in the 4th quarter. California Public Employees Retirement System now owns 1,954,606 shares of the insurance provider’s stock valued at $52,227,000 after purchasing an additional 567,170 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in Arch Capital Group by 62.0% in the 3rd quarter. Morgan Stanley now owns 1,197,234 shares of the insurance provider’s stock valued at $35,690,000 after purchasing an additional 458,034 shares in the last quarter. 79.52% of the stock is currently owned by institutional investors.
Shares of NASDAQ:ACGL opened at $32.87 on Friday. The company has a market cap of $13.23 billion, a PE ratio of 14.94, a PEG ratio of 1.16 and a beta of 0.70. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.51 and a current ratio of 0.51. Arch Capital Group Ltd. has a 12 month low of $24.79 and a 12 month high of $33.04.
Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Tuesday, February 12th. The insurance provider reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.08. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.38 billion. Arch Capital Group had a return on equity of 10.09% and a net margin of 13.91%. During the same quarter in the previous year, the company earned $1.34 EPS. Analysts expect that Arch Capital Group Ltd. will post 2.55 EPS for the current fiscal year.
In other news, CFO Francois Morin sold 2,648 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $32.14, for a total transaction of $85,106.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Yiorgos Lillikas sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $32.30, for a total value of $64,600.00. Following the sale, the director now directly owns 51,214 shares in the company, valued at approximately $1,654,212.20. The disclosure for this sale can be found here. Insiders have sold a total of 44,648 shares of company stock worth $1,451,332 in the last three months. Corporate insiders own 5.10% of the company’s stock.
ACGL has been the topic of a number of analyst reports. Barclays raised Arch Capital Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $29.00 to $32.00 in a report on Wednesday, January 9th. ValuEngine raised Arch Capital Group from a “strong sell” rating to a “sell” rating in a report on Saturday, February 2nd. BidaskClub raised Arch Capital Group from a “buy” rating to a “strong-buy” rating in a report on Friday, February 22nd. Zacks Investment Research raised Arch Capital Group from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Thursday, January 3rd. Finally, JMP Securities reaffirmed a “hold” rating on shares of Arch Capital Group in a report on Sunday, February 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $30.67.
Arch Capital Group Profile
Arch Capital Group Ltd., together with its subsidiaries, provides property, casualty, and mortgage insurance and reinsurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; collateral protection, debt cancellation, and service contract reimbursement products; 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.
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