Anchor Capital Advisors LLC Sells 8,261 Shares of Arch Capital Group Ltd. $ACGL

Anchor Capital Advisors LLC lowered its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 445,006 shares of the insurance provider’s stock after selling 8,261 shares during the period. Anchor Capital Advisors LLC owned approximately 0.12% of Arch Capital Group worth $40,375,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Arch Capital Group by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 42,414,557 shares of the insurance provider’s stock valued at $3,861,845,000 after purchasing an additional 493,583 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of Arch Capital Group by 1.7% during the 2nd quarter. Artisan Partners Limited Partnership now owns 23,833,290 shares of the insurance provider’s stock valued at $2,170,021,000 after purchasing an additional 408,950 shares during the last quarter. Geode Capital Management LLC raised its holdings in Arch Capital Group by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 10,502,003 shares of the insurance provider’s stock valued at $952,523,000 after buying an additional 115,465 shares during the period. JPMorgan Chase & Co. raised its holdings in Arch Capital Group by 4.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,830,301 shares of the insurance provider’s stock valued at $712,956,000 after buying an additional 359,710 shares during the period. Finally, Norges Bank bought a new stake in Arch Capital Group in the second quarter worth $441,551,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Arch Capital Group

In related news, CFO Francois Morin sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $94.62, for a total value of $756,960.00. Following the completion of the transaction, the chief financial officer owned 266,681 shares of the company’s stock, valued at $25,233,356.22. The trade was a 2.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John M. Pasquesi sold 203,866 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $93.90, for a total value of $19,143,017.40. Following the sale, the insider owned 351,356 shares of the company’s stock, valued at approximately $32,992,328.40. This represents a 36.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 220,666 shares of company stock worth $20,728,673. 4.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ACGL shares. Roth Capital set a $110.00 price objective on shares of Arch Capital Group and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Citigroup reiterated a “market outperform” rating on shares of Arch Capital Group in a report on Friday. Royal Bank Of Canada set a $108.00 price objective on shares of Arch Capital Group and gave the stock an “outperform” rating in a research report on Monday, November 24th. Cantor Fitzgerald restated an “overweight” rating and set a $97.00 target price (up previously from $93.00) on shares of Arch Capital Group in a research report on Wednesday, January 14th. Finally, Mizuho set a $95.00 target price on Arch Capital Group and gave the company a “neutral” rating in a research note on Monday, December 15th. Eight investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $107.53.

Arch Capital Group Stock Up 1.3%

NASDAQ:ACGL opened at $91.80 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.55 and a quick ratio of 0.55. Arch Capital Group Ltd. has a 1-year low of $82.44 and a 1-year high of $97.60. The company has a 50-day moving average of $93.66 and a 200 day moving average of $90.91. The firm has a market cap of $33.29 billion, a PE ratio of 8.59, a price-to-earnings-growth ratio of 2.28 and a beta of 0.45.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Monday, October 27th. The insurance provider reported $2.77 EPS for the quarter, beating the consensus estimate of $1.76 by $1.01. Arch Capital Group had a net margin of 20.96% and a return on equity of 16.38%. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the previous year, the business posted $1.99 EPS. As a group, research analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Arch Capital Group Profile

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.