Arizona State Retirement System Sells 8,673 Shares of Arch Capital Group Ltd. $ACGL

Arizona State Retirement System lowered its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 7.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 102,264 shares of the insurance provider’s stock after selling 8,673 shares during the quarter. Arizona State Retirement System’s holdings in Arch Capital Group were worth $9,809,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ACGL. Bridges Investment Management Inc. purchased a new position in shares of Arch Capital Group during the 3rd quarter valued at approximately $1,413,000. Allianz Asset Management GmbH boosted its stake in shares of Arch Capital Group by 12.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 192,567 shares of the insurance provider’s stock valued at $17,472,000 after buying an additional 21,323 shares during the last quarter. High Ground Investment Management LLP boosted its stake in shares of Arch Capital Group by 3.5% during the 3rd quarter. High Ground Investment Management LLP now owns 1,714,668 shares of the insurance provider’s stock valued at $155,572,000 after buying an additional 58,151 shares during the last quarter. WCM Investment Management LLC boosted its stake in shares of Arch Capital Group by 1.3% during the 3rd quarter. WCM Investment Management LLC now owns 13,525,402 shares of the insurance provider’s stock valued at $1,214,987,000 after buying an additional 171,693 shares during the last quarter. Finally, Cooke & Bieler LP purchased a new position in shares of Arch Capital Group during the 3rd quarter valued at approximately $210,856,000. Institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ACGL. Weiss Ratings upgraded Arch Capital Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 4th. The Goldman Sachs Group reissued a “sell” rating and set a $93.00 price target (up from $84.00) on shares of Arch Capital Group in a research report on Wednesday, January 7th. Wells Fargo & Company upped their price target on Arch Capital Group from $106.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday, February 11th. Evercore set a $100.00 price target on Arch Capital Group and gave the company an “in-line” rating in a research report on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods upped their price target on Arch Capital Group from $104.00 to $105.00 and gave the company a “market perform” rating in a research report on Tuesday, April 7th. Nine analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $108.93.

Arch Capital Group Stock Performance

ACGL stock opened at $96.19 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.53 and a current ratio of 0.53. The stock has a market capitalization of $34.27 billion, a price-to-earnings ratio of 8.28, a PEG ratio of 4.88 and a beta of 0.41. Arch Capital Group Ltd. has a 1 year low of $82.44 and a 1 year high of $103.39. The stock’s fifty day moving average is $96.64 and its two-hundred day moving average is $94.15.

Arch Capital Group (NASDAQ:ACGL) last posted its 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. The company had revenue of $4.93 billion for the quarter, compared to analysts’ expectations of $3.94 billion. Arch Capital Group had a return on equity of 16.73% and a net margin of 22.07%.During the same period last year, the business posted $2.26 earnings per share. On average, research analysts predict that Arch Capital Group Ltd. will post 9.34 EPS for the current year.

Insider Buying and Selling

In other news, Director Brian S. Posner sold 3,000 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $17.11, for a total transaction of $51,330.00. Following the transaction, the director directly owned 2,000 shares of the company’s stock, valued at approximately $34,220. This trade represents a 60.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicolas Papadopoulo sold 21,930 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $96.31, for a total value of $2,112,078.30. Following the transaction, the chief executive officer directly owned 871,594 shares in the company, valued at $83,943,218.14. This trade represents a 2.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 78,267 shares of company stock valued at $7,291,637. 3.30% of the stock is owned by corporate insiders.

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.