Retirement Systems of Alabama Sells 5,183 Shares of Arch Capital Group Ltd. $ACGL

Retirement Systems of Alabama trimmed its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 345,688 shares of the insurance provider’s stock after selling 5,183 shares during the period. Retirement Systems of Alabama’s holdings in Arch Capital Group were worth $31,475,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. DAVENPORT & Co LLC acquired a new position in shares of Arch Capital Group during the 1st quarter worth approximately $251,000. D.A. Davidson & CO. boosted its holdings in shares of Arch Capital Group by 10.9% in the 1st quarter. D.A. Davidson & CO. now owns 45,552 shares of the insurance provider’s stock valued at $4,381,000 after buying an additional 4,460 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Arch Capital Group by 24.7% in the first quarter. Crossmark Global Holdings Inc. now owns 37,625 shares of the insurance provider’s stock valued at $3,619,000 after buying an additional 7,448 shares in the last quarter. World Investment Advisors increased its holdings in Arch Capital Group by 114.1% during the first quarter. World Investment Advisors now owns 6,321 shares of the insurance provider’s stock worth $608,000 after buying an additional 3,369 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in Arch Capital Group by 4.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 176,530 shares of the insurance provider’s stock worth $16,622,000 after buying an additional 7,695 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. The Goldman Sachs Group set a $88.00 price target on shares of Arch Capital Group and gave the company a “sell” rating in a research note on Tuesday, October 14th. Keefe, Bruyette & Woods upped their target price on shares of Arch Capital Group from $102.00 to $103.00 and gave the company a “market perform” rating in a report on Thursday, August 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arch Capital Group in a research note on Wednesday, October 8th. Cantor Fitzgerald reissued a “neutral” rating and set a $98.00 price target on shares of Arch Capital Group in a research report on Tuesday. Finally, Wolfe Research assumed coverage on Arch Capital Group in a research note on Monday, September 15th. They issued a “peer perform” rating on the stock. Eight research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $108.64.

Insiders Place Their Bets

In other Arch Capital Group news, insider Maamoun Rajeh sold 10,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total transaction of $941,500.00. Following the transaction, the insider owned 433,589 shares in the company, valued at $40,822,404.35. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.20% of the stock is owned by insiders.

Arch Capital Group Trading Up 0.9%

Shares of NASDAQ:ACGL opened at $86.64 on Friday. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $103.21. The business has a 50 day moving average of $89.91 and a 200-day moving average of $90.65. The company has a quick ratio of 0.56, a current ratio of 0.55 and a debt-to-equity ratio of 0.13. The stock has a market cap of $32.34 billion, a PE ratio of 8.10, a P/E/G ratio of 3.24 and a beta of 0.47.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Monday, October 27th. The insurance provider reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $1.01. The company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $4.39 billion. Arch Capital Group had a return on equity of 16.38% and a net margin of 20.96%.During the same quarter last year, the company earned $1.99 earnings per share. As a group, equities research analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

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.