Investment Management Corp of Ontario Cuts Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Investment Management Corp of Ontario decreased its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 15.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 36,469 shares of the insurance provider’s stock after selling 6,546 shares during the period. Investment Management Corp of Ontario’s holdings in Arch Capital Group were worth $3,368,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ACGL. Nordea Investment Management AB raised its holdings in Arch Capital Group by 3.1% in the fourth quarter. Nordea Investment Management AB now owns 30,283 shares of the insurance provider’s stock valued at $2,785,000 after buying an additional 905 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Arch Capital Group by 4.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 9,258 shares of the insurance provider’s stock valued at $855,000 after buying an additional 380 shares during the period. Czech National Bank raised its holdings in Arch Capital Group by 6.5% in the fourth quarter. Czech National Bank now owns 81,247 shares of the insurance provider’s stock valued at $7,503,000 after buying an additional 4,951 shares during the period. Wedmont Private Capital raised its holdings in Arch Capital Group by 94.2% in the fourth quarter. Wedmont Private Capital now owns 10,556 shares of the insurance provider’s stock valued at $952,000 after buying an additional 5,120 shares during the period. Finally, Sunflower Bank N.A. raised its holdings in Arch Capital Group by 12.0% in the fourth quarter. Sunflower Bank N.A. now owns 2,745 shares of the insurance provider’s stock valued at $254,000 after buying an additional 295 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity

In other news, CEO Nicolas Papadopoulo sold 7,636 shares of Arch Capital Group stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $92.48, for a total value of $706,177.28. Following the completion of the transaction, the chief executive officer now directly owns 795,718 shares of the company’s stock, valued at approximately $73,588,000.64. The trade was a 0.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Louis T. Petrillo sold 11,600 shares of Arch Capital Group 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 transaction, the insider now directly owns 140,023 shares of the company’s stock, valued at $12,742,093. This trade represents a 7.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

Arch Capital Group Price Performance

ACGL opened at $94.54 on Monday. The company has a 50-day moving average of $92.22 and a 200-day moving average of $93.83. The company has a market capitalization of $35.52 billion, a P/E ratio of 8.44, a PEG ratio of 2.31 and a beta of 0.57. Arch Capital Group Ltd. has a 1-year low of $82.49 and a 1-year high of $116.47. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.58 and a current ratio of 0.54.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Tuesday, April 29th. The insurance provider reported $1.54 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.05). Arch Capital Group had a net margin of 24.73% and a return on equity of 17.96%. The business had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.75 billion. During the same period last year, the firm posted $2.45 earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis. Equities analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on ACGL shares. JPMorgan Chase & Co. raised their price target on shares of Arch Capital Group from $106.00 to $107.00 and gave the company a “neutral” rating in a report on Tuesday, April 8th. Royal Bank of Canada dropped their price objective on shares of Arch Capital Group from $125.00 to $110.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 12th. Barclays dropped their price objective on shares of Arch Capital Group from $100.00 to $93.00 and set an “equal weight” rating on the stock in a research note on Friday, April 11th. UBS Group dropped their price objective on shares of Arch Capital Group from $127.00 to $124.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Finally, Morgan Stanley dropped their price objective on shares of Arch Capital Group from $115.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.00.

About Arch Capital Group

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.