J. Safra Sarasin Holding AG Sells 80,959 Shares of Arch Capital Group Ltd. $ACGL

J. Safra Sarasin Holding AG cut its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 28.4% during the 4th quarter, HoldingsChannel reports. The firm owned 204,381 shares of the insurance provider’s stock after selling 80,959 shares during the period. J. Safra Sarasin Holding AG’s holdings in Arch Capital Group were worth $19,604,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. WealthCollab LLC lifted its position in Arch Capital Group by 410.3% during the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock valued at $27,000 after buying an additional 238 shares during the period. JPL Wealth Management LLC bought a new position in shares of Arch Capital Group in the 3rd quarter worth about $28,000. Aventura Private Wealth LLC bought a new position in shares of Arch Capital Group in the 4th quarter worth about $30,000. Grove Bank & Trust purchased a new position in Arch Capital Group during the 4th quarter valued at about $30,000. Finally, Cornerstone Planning Group LLC lifted its position in Arch Capital Group by 426.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 384 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 311 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider David Gansberg sold 5,907 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $96.37, for a total transaction of $569,257.59. Following the transaction, the insider directly owned 336,559 shares of the company’s stock, valued at $32,434,190.83. This represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Nicolas Papadopoulo sold 21,930 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $96.31, for a total value of $2,112,078.30. Following the sale, the chief executive officer directly owned 871,594 shares in the company, valued at $83,943,218.14. This trade represents a 2.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 78,267 shares of company stock valued at $7,291,637. 4.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ACGL shares. Evercore set a $100.00 price objective on shares of Arch Capital Group and gave the stock an “in-line” rating in a report on Wednesday, January 7th. Mizuho lifted their target price on shares of Arch Capital Group from $95.00 to $102.00 and gave the company a “neutral” rating in a report on Thursday, February 12th. Weiss Ratings raised Arch Capital Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 4th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 price objective (up from $97.00) on shares of Arch Capital Group in a research report on Tuesday, February 17th. Finally, Royal Bank Of Canada lifted their price objective on Arch Capital Group from $108.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Nine investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Arch Capital Group presently has an average rating of “Hold” and a consensus price target of $109.20.

Arch Capital Group Stock Up 2.4%

Shares of Arch Capital Group stock opened at $95.62 on Tuesday. The company has a 50-day simple moving average of $96.34 and a two-hundred day simple moving average of $93.21. The stock has a market capitalization of $34.07 billion, a PE ratio of 8.23, a price-to-earnings-growth ratio of 3.80 and a beta of 0.40. Arch Capital Group Ltd. has a 52-week low of $82.44 and a 52-week high of $103.39. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.53 and a current ratio of 0.53.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results 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 net margin of 22.07% and a return on equity of 16.73%. The company had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter last year, the firm earned $2.26 earnings per share. On average, analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS 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.