Vestcor Inc Cuts Stake in Arch Capital Group Ltd. $ACGL

Vestcor Inc lessened its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 49.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,508 shares of the insurance provider’s stock after selling 40,260 shares during the quarter. Vestcor Inc’s holdings in Arch Capital Group were worth $3,766,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Arch Capital Group by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 42,414,557 shares of the insurance provider’s stock valued at $3,861,845,000 after purchasing an additional 493,583 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in Arch Capital Group by 1.7% during the second quarter. Artisan Partners Limited Partnership now owns 23,833,290 shares of the insurance provider’s stock valued at $2,170,021,000 after acquiring an additional 408,950 shares during the last quarter. WCM Investment Management LLC boosted 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 worth $1,214,987,000 after acquiring an additional 171,693 shares in the last quarter. Geode Capital Management LLC raised its stake in Arch Capital Group by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 10,502,003 shares of the insurance provider’s stock worth $952,523,000 after acquiring an additional 115,465 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Arch Capital Group by 4.6% in the third quarter. JPMorgan Chase & Co. now owns 8,190,927 shares of the insurance provider’s stock valued at $743,168,000 after buying an additional 360,626 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ACGL shares. Barclays set a $104.00 target price on shares of Arch Capital Group and gave the company an “equal weight” rating in a research note on Thursday, January 8th. Roth Mkm set a $110.00 price objective on Arch Capital Group and gave the company a “buy” rating in a report on Tuesday, December 2nd. Mizuho upped their price target on Arch Capital Group from $95.00 to $102.00 and gave the company a “neutral” rating in a research report on Thursday, February 12th. UBS Group reaffirmed a “buy” rating and set a $114.00 target price (up from $113.00) on shares of Arch Capital Group in a research note on Tuesday, February 17th. Finally, Citigroup reiterated a “buy” rating and set a $120.00 price target (up from $113.00) on shares of Arch Capital Group in a report on Friday, February 13th. Nine investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $109.20.

Insider Buying and Selling

In related news, insider John M. Pasquesi sold 203,866 shares of Arch Capital Group stock in a transaction that occurred on 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 transaction, the insider owned 351,356 shares in the company, valued at $32,992,328.40. The trade was a 36.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Maamoun Rajeh sold 47,430 shares of the 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 completion of the sale, the insider directly owned 433,589 shares in the company, valued at approximately $41,676,574.68. This represents a 9.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 260,096 shares of company stock valued at $24,530,685 in the last quarter. 4.10% of the stock is owned by insiders.

Arch Capital Group Trading Up 0.6%

ACGL opened at $96.19 on Wednesday. The business has a fifty day moving average price of $96.27 and a 200 day moving average price of $92.98. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.53 and a quick ratio of 0.53. Arch Capital Group Ltd. has a 12 month low of $82.44 and a 12 month high of $103.39. The stock has a market capitalization of $34.22 billion, a price-to-earnings ratio of 8.28, a PEG ratio of 3.84 and a beta of 0.40.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Monday, February 9th. The insurance provider reported $2.98 earnings per share (EPS) 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 $4.93 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter last year, the business posted $2.26 EPS. Sell-side analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

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.