New York State Teachers Retirement System Decreases Stake in Arch Capital Group Ltd. $ACGL

New York State Teachers Retirement System reduced its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 4.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 349,946 shares of the insurance provider’s stock after selling 14,958 shares during the period. New York State Teachers Retirement System’s holdings in Arch Capital Group were worth $31,863,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Meeder Asset Management Inc. lifted its stake in shares of Arch Capital Group by 116.3% in the first quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider’s stock worth $27,000 after buying an additional 150 shares in the last quarter. Bartlett & CO. Wealth Management LLC purchased a new position in shares of Arch Capital Group in the first quarter worth about $27,000. Wayfinding Financial LLC purchased a new position in shares of Arch Capital Group in the first quarter worth about $31,000. Zions Bancorporation National Association UT purchased a new position in shares of Arch Capital Group in the first quarter worth about $37,000. Finally, Grove Bank & Trust purchased a new position in Arch Capital Group during the first quarter worth about $40,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Maamoun Rajeh sold 10,000 shares of Arch Capital Group stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $94.15, for a total value of $941,500.00. Following the completion of the sale, the insider owned 433,589 shares in the company, valued at approximately $40,822,404.35. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

ACGL has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Arch Capital Group from $102.00 to $103.00 and gave the stock a “market perform” rating in a report on Thursday, August 14th. Cowen restated a “buy” rating on shares of Arch Capital Group in a report on Monday, August 4th. Citigroup began coverage on shares of Arch Capital Group in a report on Wednesday, August 13th. They set a “buy” rating and a $113.00 price target for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Arch Capital Group in a report on Wednesday, October 8th. Finally, Wolfe Research began coverage on shares of Arch Capital Group in a report on Monday, September 15th. They set a “peer perform” rating for the company. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $108.71.

Arch Capital Group Stock Down 3.7%

Arch Capital Group stock opened at $86.23 on Friday. Arch Capital Group Ltd. has a fifty-two week low of $82.49 and a fifty-two week high of $109.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a 50 day moving average price of $90.72 and a 200 day moving average price of $90.94. The company has a market capitalization of $32.18 billion, a PE ratio of 8.90, a price-to-earnings-growth ratio of 5.20 and a beta of 0.47.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.28. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. The firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter last year, the firm earned $2.57 EPS. Research analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Arch Capital Group 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.