New York State Common Retirement Fund Sells 6,497 Shares of Arch Capital Group Ltd. $ACGL

New York State Common Retirement Fund reduced its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 531,830 shares of the insurance provider’s stock after selling 6,497 shares during the period. New York State Common Retirement Fund owned 0.14% of Arch Capital Group worth $48,253,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mainstay Capital Management LLC ADV acquired a new position in Arch Capital Group during the 2nd quarter valued at about $363,000. Cooke & Bieler LP bought a new stake in shares of Arch Capital Group during the third quarter worth approximately $210,856,000. Citizens Financial Group Inc. RI lifted its holdings in Arch Capital Group by 632.6% in the third quarter. Citizens Financial Group Inc. RI now owns 17,362 shares of the insurance provider’s stock valued at $1,575,000 after buying an additional 14,992 shares during the period. Osaic Holdings Inc. boosted its stake in Arch Capital Group by 550.1% in the second quarter. Osaic Holdings Inc. now owns 109,984 shares of the insurance provider’s stock valued at $10,513,000 after acquiring an additional 93,067 shares during the last quarter. Finally, Bryn Mawr Trust Advisors LLC bought a new position in Arch Capital Group in the second quarter valued at approximately $371,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ACGL. Citigroup restated a “market outperform” rating on shares of Arch Capital Group in a report on Friday, January 16th. Weiss Ratings restated a “hold (c+)” rating on shares of Arch Capital Group in a report on Wednesday, January 21st. Morgan Stanley set a $125.00 target price on shares of Arch Capital Group in a research note on Friday, January 16th. Roth Mkm set a $110.00 price target on shares of Arch Capital Group and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. Finally, Mizuho set a $95.00 price target on shares of Arch Capital Group and gave the company a “neutral” rating in a report on Monday, December 15th. Eight equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $107.53.

Arch Capital Group Price Performance

NASDAQ:ACGL opened at $96.04 on Friday. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $97.60. The firm has a market capitalization of $34.83 billion, a price-to-earnings ratio of 8.98, a P/E/G ratio of 2.01 and a beta of 0.45. The stock’s 50 day moving average price is $93.95 and its two-hundred day moving average price is $91.15. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.13.

Insiders Place Their Bets

In other news, insider John M. Pasquesi sold 8,800 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $94.17, for a total transaction of $828,696.00. Following the completion of the sale, the insider directly owned 289,556 shares in the company, valued at approximately $27,267,488.52. This represents a 2.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Francois Morin sold 8,000 shares of the stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $94.62, for a total transaction of $756,960.00. Following the sale, the chief financial officer owned 266,681 shares in the company, valued at $25,233,356.22. This represents a 2.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 220,666 shares of company stock valued at $20,728,673 in the last three months. Insiders own 4.20% of the company’s stock.

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.