Victory Capital Management Inc. Cuts Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

Victory Capital Management Inc. decreased its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 24.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 286,090 shares of the insurance provider’s stock after selling 93,814 shares during the quarter. Victory Capital Management Inc.’s holdings in Arch Capital Group were worth $21,248,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ACGL. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Arch Capital Group in the 4th quarter worth $27,000. Larson Financial Group LLC bought a new position in shares of Arch Capital Group in the 4th quarter worth $30,000. CVA Family Office LLC bought a new position in shares of Arch Capital Group in the 4th quarter worth $47,000. Covestor Ltd raised its position in shares of Arch Capital Group by 342.9% in the 3rd quarter. Covestor Ltd now owns 899 shares of the insurance provider’s stock worth $72,000 after acquiring an additional 696 shares in the last quarter. Finally, Operose Advisors LLC bought a new position in shares of Arch Capital Group in the 3rd quarter worth $75,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wells Fargo & Company boosted their target price on Arch Capital Group from $109.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Bank of America boosted their target price on Arch Capital Group from $105.00 to $109.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Royal Bank of Canada restated an “outperform” rating and set a $98.00 target price on shares of Arch Capital Group in a research note on Friday, February 16th. JPMorgan Chase & Co. boosted their target price on Arch Capital Group from $88.00 to $92.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Citigroup dropped their target price on Arch Capital Group from $91.00 to $89.00 and set a “neutral” rating on the stock in a research note on Monday, January 22nd. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $100.67.

Insider Transactions at Arch Capital Group

In related news, CEO David Gansberg sold 10,000 shares of Arch Capital Group stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $96.64, for a total value of $966,400.00. Following the completion of the transaction, the chief executive officer now owns 228,035 shares in the company, valued at approximately $22,037,302.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Arch Capital Group news, CFO Francois Morin sold 25,689 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $87.47, for a total transaction of $2,247,016.83. Following the completion of the transaction, the chief financial officer now directly owns 221,779 shares in the company, valued at $19,399,009.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Gansberg sold 10,000 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $96.64, for a total transaction of $966,400.00. Following the transaction, the chief executive officer now directly owns 228,035 shares in the company, valued at $22,037,302.40. The disclosure for this sale can be found here. Insiders have sold a total of 145,689 shares of company stock valued at $12,838,617 in the last ninety days. 4.00% of the stock is currently owned by corporate insiders.

Arch Capital Group Trading Up 0.7 %

Arch Capital Group stock opened at $99.63 on Friday. The firm has a market cap of $37.38 billion, a PE ratio of 7.86, a P/E/G ratio of 1.12 and a beta of 0.57. Arch Capital Group Ltd. has a 12 month low of $69.05 and a 12 month high of $99.70. The stock’s 50 day simple moving average is $92.03 and its two-hundred day simple moving average is $85.15. The company has a current ratio of 0.59, a quick ratio of 0.57 and a debt-to-equity ratio of 0.17.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.39. Arch Capital Group had a net margin of 33.65% and a return on equity of 21.85%. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the firm posted $1.73 earnings per share. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. Analysts anticipate that Arch Capital Group Ltd. will post 8.43 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.