Vanguard Group Inc. Trims Holdings in Arch Capital Group Ltd. $ACGL

Vanguard Group Inc. decreased its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 42,313,220 shares of the insurance provider’s stock after selling 101,337 shares during the period. Vanguard Group Inc. owned 11.34% of Arch Capital Group worth $3,839,078,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Cornerstone Planning Group LLC raised its position in shares of Arch Capital Group by 426.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 384 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 311 shares during the period. Quent Capital LLC bought a new position in Arch Capital Group in the 3rd quarter worth $37,000. Richardson Financial Services Inc. increased its stake in Arch Capital Group by 63.3% in the 3rd quarter. Richardson Financial Services Inc. now owns 418 shares of the insurance provider’s stock worth $38,000 after buying an additional 162 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Arch Capital Group by 3,450.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 414 shares during the period. Finally, TD Waterhouse Canada Inc. raised its holdings in Arch Capital Group by 31.4% during the second quarter. TD Waterhouse Canada Inc. now owns 469 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 112 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ACGL has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on Arch Capital Group from $106.00 to $109.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 11th. Roth Mkm set a $110.00 price target on Arch Capital Group and gave the stock a “buy” rating in a research note on Tuesday, December 2nd. Royal Bank Of Canada increased their price objective on shares of Arch Capital Group from $108.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, February 11th. Morgan Stanley set a $125.00 target price on shares of Arch Capital Group in a report on Friday, January 16th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 target price (up from $97.00) on shares of Arch Capital Group in a research note on Tuesday. Nine equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Arch Capital Group currently has a consensus rating of “Hold” and an average target price of $109.20.

Insider Activity

In other news, insider John M. Pasquesi sold 8,800 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $94.17, for a total value of $828,696.00. Following the completion of the sale, the insider directly owned 289,556 shares of the company’s stock, valued at $27,267,488.52. This trade represents a 2.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Francois Morin sold 8,000 shares of Arch Capital Group stock in a transaction that occurred on Friday, November 28th. The stock was 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 approximately $25,233,356.22. This trade represents a 2.91% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 268,096 shares of company stock worth $25,287,645. 4.10% of the stock is currently owned by corporate insiders.

Arch Capital Group Stock Up 0.5%

NASDAQ ACGL opened at $98.88 on Wednesday. The stock has a 50 day moving average price of $95.42 and a 200-day moving average price of $92.13. Arch Capital Group Ltd. has a one year low of $82.44 and a one year high of $103.39. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.55 and a current ratio of 0.53. The company has a market capitalization of $35.86 billion, a P/E ratio of 8.51, a P/E/G ratio of 3.94 and a beta of 0.42.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Monday, February 9th. The insurance provider reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.64. Arch Capital Group had a net margin of 22.07% and a return on equity of 16.73%. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the prior year, the firm earned $2.26 earnings per share. As a group, equities analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

About Arch Capital Group

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.