Swiss National Bank Sells 57,000 Shares of Arch Capital Group Ltd. $ACGL

Swiss National Bank lessened its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 5.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,080,300 shares of the insurance provider’s stock after selling 57,000 shares during the period. Swiss National Bank owned about 0.30% of Arch Capital Group worth $98,016,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Geneos Wealth Management Inc. grew its holdings in shares of Arch Capital Group by 157.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider’s stock valued at $65,000 after purchasing an additional 412 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Arch Capital Group during the second quarter worth $253,000. Savant Capital LLC grew its stake in shares of Arch Capital Group by 9.6% during the second quarter. Savant Capital LLC now owns 15,083 shares of the insurance provider’s stock worth $1,373,000 after buying an additional 1,315 shares during the last quarter. Vestmark Advisory Solutions Inc. acquired a new position in shares of Arch Capital Group during the second quarter worth $338,000. Finally, Penserra Capital Management LLC lifted its stake in shares of Arch Capital Group by 12.1% in the 2nd quarter. Penserra Capital Management LLC now owns 1,949 shares of the insurance provider’s stock valued at $177,000 after acquiring an additional 211 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ACGL. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $104.00 price objective (up from $102.00) on shares of Arch Capital Group in a report on Thursday, February 12th. JPMorgan Chase & Co. lifted their price target 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. Morgan Stanley set a $125.00 price target on Arch Capital Group in a report on Friday, January 16th. Barclays set a $104.00 price objective on shares of Arch Capital Group and gave the company an “equal weight” rating in a report on Thursday, January 8th. Finally, Mizuho upped their price target on shares of Arch Capital Group from $95.00 to $102.00 and gave the company a “neutral” rating in a research report on Thursday, February 12th. Nine research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $109.20.

Arch Capital Group Price Performance

Arch Capital Group stock opened at $96.19 on Wednesday. The stock’s 50 day moving average is $96.27 and its 200 day moving average is $92.98. Arch Capital Group Ltd. has a one year low of $82.44 and a one year high of $103.39. The firm has a market cap of $34.22 billion, a P/E ratio of 8.28, a P/E/G ratio of 3.84 and a beta of 0.40. 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 (NASDAQ:ACGL) last released its quarterly earnings results on Monday, February 9th. The insurance provider reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.64. The firm had revenue of $4.93 billion during the quarter, compared to analyst estimates of $3.94 billion. Arch Capital Group had a net margin of 22.07% and a return on equity of 16.73%. During the same quarter last year, the business earned $2.26 EPS. As a group, research analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Insiders Place Their Bets

In other news, insider Maamoun Rajeh sold 47,430 shares of Arch Capital Group stock in a transaction dated Wednesday, February 11th. The stock was 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 trade represents a 9.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John M. Pasquesi sold 203,866 shares of the business’s 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 transaction, the insider directly owned 351,356 shares in the company, valued at $32,992,328.40. This represents a 36.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 260,096 shares of company stock valued at $24,530,685 in the last three months. 4.10% of the stock is 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.