California Public Employees Retirement System Reduces Stock Position in Arch Capital Group Ltd. $ACGL

California Public Employees Retirement System lessened its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 5.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,304,491 shares of the insurance provider’s stock after selling 73,723 shares during the period. California Public Employees Retirement System owned approximately 0.36% of Arch Capital Group worth $118,356,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. WealthCollab LLC boosted its stake in shares of Arch Capital Group by 410.3% in the 3rd quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock worth $27,000 after buying an additional 238 shares during the last quarter. Cornerstone Planning Group LLC grew its holdings in shares of Arch Capital Group by 426.0% in the third quarter. Cornerstone Planning Group LLC now owns 384 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 311 shares during the period. Quent Capital LLC purchased a new stake in Arch Capital Group during the third quarter valued at $37,000. Richardson Financial Services Inc. lifted its holdings in Arch Capital Group by 63.3% in the third quarter. Richardson Financial Services Inc. now owns 418 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 162 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its holdings in Arch Capital Group by 31.4% in 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 hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ACGL has been the topic of several research reports. UBS Group reissued a “buy” rating and issued a $114.00 target price (up from $113.00) on shares of Arch Capital Group in a research report on Tuesday, February 17th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $100.00 price objective (up from $97.00) on shares of Arch Capital Group in a research note on Tuesday, February 17th. The Goldman Sachs Group reissued a “sell” rating and issued a $93.00 price objective (up from $84.00) on shares of Arch Capital Group in a report on Wednesday, January 7th. Morgan Stanley set a $125.00 target price on shares of Arch Capital Group in a research report on Friday, January 16th. Finally, Weiss Ratings raised shares of Arch Capital Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. Nine equities research 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.com, the stock has an average rating of “Hold” and a consensus target price of $109.20.

Arch Capital Group Stock Performance

Shares of ACGL opened at $93.47 on Monday. The business has a 50-day simple moving average of $96.21 and a two-hundred day simple moving average of $93.04. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.13. Arch Capital Group Ltd. has a 52 week low of $82.44 and a 52 week high of $103.39. The stock has a market cap of $33.26 billion, a price-to-earnings ratio of 8.04, a PEG ratio of 3.80 and a beta of 0.40.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Monday, February 9th. The insurance provider reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.64. The firm 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 in the previous year, the firm earned $2.26 EPS. On average, analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Insider Activity

In other Arch Capital Group news, Director Brian S. Posner sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $17.11, for a total transaction of $51,330.00. Following the sale, the director owned 2,000 shares in the company, valued at approximately $34,220. This trade represents a 60.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Maamoun Rajeh sold 47,430 shares of Arch Capital Group stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $96.12, for a total transaction of $4,558,971.60. Following the transaction, the insider directly owned 433,589 shares in the company, valued at $41,676,574.68. This represents a 9.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 78,267 shares of company stock worth $7,291,637 in the last quarter. 4.10% of the stock is currently owned by 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.