Citigroup Inc. Sells 216,617 Shares of Arch Capital Group Ltd. $ACGL

Citigroup Inc. decreased its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 35.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 389,935 shares of the insurance provider’s stock after selling 216,617 shares during the period. Citigroup Inc. owned 0.10% of Arch Capital Group worth $35,379,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bridges Investment Management Inc. bought a new stake in Arch Capital Group during the 3rd quarter worth about $1,413,000. Allianz Asset Management GmbH raised its stake in shares of Arch Capital Group by 12.5% during the third quarter. Allianz Asset Management GmbH now owns 192,567 shares of the insurance provider’s stock worth $17,472,000 after buying an additional 21,323 shares during the last quarter. WCM Investment Management LLC lifted its holdings in Arch Capital Group by 1.3% in the third 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 period. High Ground Investment Management LLP boosted its stake in Arch Capital Group by 3.5% in the third 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 during the last quarter. Finally, Cooke & Bieler LP acquired a new stake in Arch Capital Group during the 3rd quarter worth $210,856,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ACGL. Mizuho increased their price target on Arch Capital Group from $95.00 to $102.00 and gave the company a “neutral” rating in a research note on Thursday, February 12th. JPMorgan Chase & Co. increased their target price on Arch Capital Group from $111.00 to $117.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 target price (up from $97.00) on shares of Arch Capital Group in a research report on Tuesday, February 17th. Weiss Ratings raised Arch Capital Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 4th. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $93.00 price target (up from $84.00) on shares of Arch Capital Group in a research report on Wednesday, January 7th. Nine analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Arch Capital Group presently has a consensus rating of “Hold” and an average price target of $109.20.

Arch Capital Group Stock Up 0.5%

Shares of Arch Capital Group stock opened at $99.18 on Wednesday. The company has a market capitalization of $35.97 billion, a P/E ratio of 8.54, a price-to-earnings-growth ratio of 3.95 and a beta of 0.42. 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 business has a 50-day moving average of $95.86 and a two-hundred day moving average of $92.47. Arch Capital Group Ltd. has a 1 year low of $82.44 and a 1 year high of $103.39.

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, beating the consensus estimate of $2.34 by $0.64. Arch Capital Group had a return on equity of 16.73% and a net margin of 22.07%.The business had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter in the previous year, the business posted $2.26 EPS. As a group, equities analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Insider Activity

In related news, insider Maamoun Rajeh sold 47,430 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $96.12, for a total value of $4,558,971.60. Following the completion of the transaction, the insider directly owned 433,589 shares of the company’s stock, valued at approximately $41,676,574.68. This represents a 9.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John M. Pasquesi sold 203,866 shares of Arch Capital Group stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $93.90, for a total value of $19,143,017.40. Following the completion of the sale, the insider directly owned 351,356 shares in the company, valued at $32,992,328.40. This represents a 36.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 268,096 shares of company stock worth $25,287,645 over the last quarter. 4.10% of the stock is currently owned by company insiders.

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.