Mitsubishi UFJ Trust & Banking Corp Sells 21,504 Shares of Arch Capital Group Ltd. $ACGL

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 6.9% during the third quarter, HoldingsChannel.com reports. The firm owned 291,388 shares of the insurance provider’s stock after selling 21,504 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Arch Capital Group were worth $26,438,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ACGL. Vanguard Group Inc. lifted its holdings in Arch Capital Group by 1.2% in the second quarter. Vanguard Group Inc. now owns 42,414,557 shares of the insurance provider’s stock valued at $3,861,845,000 after buying an additional 493,583 shares during the period. Artisan Partners Limited Partnership lifted its stake in shares of Arch Capital Group by 1.7% in the 2nd quarter. Artisan Partners Limited Partnership now owns 23,833,290 shares of the insurance provider’s stock valued at $2,170,021,000 after purchasing an additional 408,950 shares during the period. Geode Capital Management LLC boosted its position in shares of 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 purchasing an additional 115,465 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Arch Capital Group by 4.8% during the second quarter. JPMorgan Chase & Co. now owns 7,830,301 shares of the insurance provider’s stock worth $712,956,000 after purchasing an additional 359,710 shares during the period. Finally, Norges Bank bought a new stake in Arch Capital Group in the second quarter valued at about $441,551,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insiders Place Their Bets

In related news, insider John M. Pasquesi sold 8,800 shares of the business’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 sale, the insider directly owned 289,556 shares of the company’s stock, valued at approximately $27,267,488.52. The trade was a 2.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Francois Morin sold 8,000 shares of the company’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $94.62, for a total transaction of $756,960.00. Following the completion of the transaction, the chief financial officer directly owned 266,681 shares of the company’s stock, valued at approximately $25,233,356.22. The trade was a 2.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 220,666 shares of company stock worth $20,728,673. 4.10% of the stock is currently owned by company insiders.

Arch Capital Group Price Performance

Shares of ACGL opened at $93.70 on Tuesday. The stock has a 50 day simple moving average of $93.71 and a 200 day simple moving average of $91.02. Arch Capital Group Ltd. has a 52-week low of $82.44 and a 52-week high of $97.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market capitalization of $33.98 billion, a PE ratio of 8.77, a P/E/G ratio of 1.95 and a beta of 0.45.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Monday, October 27th. The insurance provider reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $1.01. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $4.39 billion. Arch Capital Group had a net margin of 20.96% and a return on equity of 16.38%. During the same quarter in the previous year, the firm posted $1.99 earnings per share. Sell-side analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ACGL has been the topic of a number of recent analyst reports. Wells Fargo & Company reduced their target price on Arch Capital Group from $111.00 to $106.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Mizuho set a $95.00 price objective on shares of Arch Capital Group and gave the stock a “neutral” rating in a research note on Monday, December 15th. Morgan Stanley set a $125.00 price objective on shares of Arch Capital Group in a report on Friday, January 16th. The Goldman Sachs Group reiterated a “sell” rating and issued a $93.00 target price (up from $84.00) on shares of Arch Capital Group in a report on Wednesday, January 7th. Finally, Citigroup reissued a “market outperform” rating on shares of Arch Capital Group in a report on Friday, January 16th. Eight investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Arch Capital Group currently has a consensus rating of “Hold” and an average price target of $107.53.

Arch Capital Group Company 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.