Arch Capital Group Ltd. $ACGL Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ reduced its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 3.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 191,588 shares of the insurance provider’s stock after selling 7,314 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.05% of Arch Capital Group worth $17,381,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Bridges Investment Management Inc. purchased a new position in shares of Arch Capital Group during the third quarter worth $1,413,000. Allianz Asset Management GmbH lifted its stake in 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 worth $17,472,000 after acquiring an additional 21,323 shares in the last quarter. WCM Investment Management LLC boosted its holdings in 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 acquiring an additional 171,693 shares during the period. High Ground Investment Management LLP grew its position in Arch Capital Group by 3.5% in 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 acquiring an additional 58,151 shares in the last quarter. Finally, Cooke & Bieler LP purchased a new stake in Arch Capital Group during the third quarter worth about $210,856,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Stock Performance

NASDAQ:ACGL opened at $98.88 on Wednesday. Arch Capital Group Ltd. has a 12 month low of $82.44 and a 12 month high of $103.39. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.53 and a quick ratio of 0.55. The firm has a market capitalization of $35.86 billion, a PE ratio of 8.51, a price-to-earnings-growth ratio of 3.94 and a beta of 0.42. The business’s fifty day moving average price is $95.42 and its 200 day moving average price is $92.13.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Monday, February 9th. The insurance provider reported $2.98 earnings per share for the quarter, topping 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 analysts’ expectations of $3.94 billion. During the same quarter last year, the company earned $2.26 earnings per share. On average, sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on ACGL shares. The Goldman Sachs Group reissued a “sell” rating and issued a $93.00 price objective (up previously from $84.00) on shares of Arch Capital Group in a research note on Wednesday, January 7th. Weiss Ratings upgraded shares of Arch Capital Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. Barclays set a $104.00 price target on shares of Arch Capital Group and gave the stock an “equal weight” rating in a research note on Thursday, January 8th. Wells Fargo & Company increased their price objective on Arch Capital Group from $106.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, February 11th. Finally, UBS Group reiterated a “buy” rating and issued a $114.00 target price (up from $113.00) on shares of Arch Capital Group in a report on Tuesday. Nine analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $109.20.

Insider Buying and Selling

In other news, insider John M. Pasquesi sold 8,800 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $94.17, for a total value of $828,696.00. Following the completion of the sale, the insider owned 289,556 shares in the company, valued at approximately $27,267,488.52. This trade represents a 2.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Francois Morin sold 8,000 shares of Arch Capital Group 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 sale, the chief financial officer directly owned 266,681 shares in the company, valued at $25,233,356.22. This represents a 2.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 268,096 shares of company stock worth $25,287,645 in the last 90 days. Company insiders own 4.10% of the company’s stock.

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.