California Public Employees Retirement System Sells 248,776 Shares of Arch Capital Group Ltd. $ACGL

California Public Employees Retirement System trimmed its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 15.3% in the second quarter, HoldingsChannel reports. The fund owned 1,378,214 shares of the insurance provider’s stock after selling 248,776 shares during the period. California Public Employees Retirement System’s holdings in Arch Capital Group were worth $125,486,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Zions Bancorporation National Association UT bought a new position in shares of Arch Capital Group during the 1st quarter valued at $37,000. Caitong International Asset Management Co. Ltd boosted its position in Arch Capital Group by 3,450.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the insurance provider’s stock valued at $39,000 after buying an additional 414 shares during the period. TD Waterhouse Canada Inc. boosted its position in Arch Capital Group by 31.4% during the second quarter. TD Waterhouse Canada Inc. now owns 469 shares of the insurance provider’s stock valued at $43,000 after buying an additional 112 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Arch Capital Group by 157.9% during the first quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider’s stock valued at $65,000 after buying an additional 412 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new position in shares of Arch Capital Group in the second quarter worth about $73,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ACGL shares. Wells Fargo & Company dropped their target price on Arch Capital Group from $111.00 to $106.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Barclays set a $99.00 price target on Arch Capital Group and gave the stock an “equal weight” rating in a research note on Wednesday, October 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Arch Capital Group in a research note on Wednesday, October 8th. Roth Capital set a $110.00 target price on shares of Arch Capital Group and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Arch Capital Group from $110.00 to $111.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $106.85.

Arch Capital Group Trading Down 0.7%

NASDAQ ACGL opened at $91.72 on Monday. The stock has a market cap of $33.26 billion, a P/E ratio of 8.58, a price-to-earnings-growth ratio of 2.14 and a beta of 0.47. Arch Capital Group Ltd. has a fifty-two week low of $82.44 and a fifty-two week high of $98.81. The stock has a 50 day simple moving average of $90.21 and a two-hundred day simple moving average of $90.34. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.55 and a current ratio of 0.55.

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

Insider Transactions at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 8,000 shares of the company’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $94.62, for a total value of $756,960.00. Following the completion of the transaction, the chief financial officer directly owned 266,681 shares in the company, valued at approximately $25,233,356.22. This represents a 2.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.10% of the company’s stock.

Arch Capital Group Company Profile

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.