Arch Capital Group Ltd. (NASDAQ:ACGL) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,870 shares of the insurance provider’s stock after selling 451 shares during the period. Corebridge Financial Inc.’s holdings in Arch Capital Group were worth $8,761,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Arch Capital Group by 3.5% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 197,111 shares of the insurance provider’s stock valued at $18,203,000 after buying an additional 6,663 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Arch Capital Group by 5.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 111,229 shares of the insurance provider’s stock valued at $12,444,000 after acquiring an additional 5,614 shares during the last quarter. Pittenger & Anderson Inc. raised its position in shares of Arch Capital Group by 56.6% during the 4th quarter. Pittenger & Anderson Inc. now owns 6,720 shares of the insurance provider’s stock worth $621,000 after acquiring an additional 2,430 shares in the last quarter. Northstar Group Inc. lifted its stake in Arch Capital Group by 5.1% during the fourth quarter. Northstar Group Inc. now owns 122,197 shares of the insurance provider’s stock worth $11,285,000 after purchasing an additional 5,947 shares during the last quarter. Finally, Asahi Life Asset Management CO. LTD. acquired a new position in Arch Capital Group in the fourth quarter valued at approximately $366,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Louis T. Petrillo sold 11,600 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $91.00, for a total value of $1,055,600.00. Following the completion of the transaction, the insider now owns 140,023 shares in the company, valued at $12,742,093. This trade represents a 7.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.20% of the company’s stock.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL opened at $96.94 on Friday. Arch Capital Group Ltd. has a 52 week low of $87.42 and a 52 week high of $116.47. The company has a 50-day moving average price of $92.16 and a 200 day moving average price of $98.38. The company has a market cap of $36.39 billion, a P/E ratio of 8.66, a PEG ratio of 2.31 and a beta of 0.62. The company has a quick ratio of 0.58, a current ratio of 0.54 and a debt-to-equity ratio of 0.15.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Monday, February 10th. The insurance provider reported $2.26 EPS for the quarter, beating the consensus estimate of $1.90 by $0.36. Arch Capital Group had a return on equity of 17.96% and a net margin of 24.73%. During the same period in the previous year, the company posted $2.45 earnings per share. Research analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ACGL shares. Morgan Stanley reduced their price objective on shares of Arch Capital Group from $115.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Royal Bank of Canada decreased their price objective on shares of Arch Capital Group from $125.00 to $110.00 and set an “outperform” rating for the company in a research note on Wednesday, February 12th. JPMorgan Chase & Co. cut their target price on Arch Capital Group from $110.00 to $106.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. UBS Group dropped their price target on Arch Capital Group from $131.00 to $127.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $125.00 price target on shares of Arch Capital Group in a research report on Tuesday, February 11th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $117.19.

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.