Anchor Capital Advisors LLC Sells 8,261 Shares of Arch Capital Group Ltd. $ACGL

Anchor Capital Advisors LLC trimmed its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 445,006 shares of the insurance provider’s stock after selling 8,261 shares during the period. Anchor Capital Advisors LLC’s holdings in Arch Capital Group were worth $40,375,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ACGL. Vanguard Group Inc. raised its stake in shares of 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 worth $3,861,845,000 after acquiring an additional 493,583 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in Arch Capital Group by 1.7% in the second quarter. Artisan Partners Limited Partnership now owns 23,833,290 shares of the insurance provider’s stock worth $2,170,021,000 after purchasing an additional 408,950 shares during the last quarter. Geode Capital Management LLC grew its holdings in Arch Capital Group by 1.1% in the second 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. increased its position 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 in the last quarter. Finally, Norges Bank purchased a new stake in shares of Arch Capital Group during the 2nd quarter valued at $441,551,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Transactions at Arch Capital Group

In other Arch Capital Group news, insider John M. Pasquesi sold 203,866 shares of the company’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 owned 351,356 shares in the company, valued at approximately $32,992,328.40. This represents a 36.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Francois Morin sold 8,000 shares of the firm’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $94.62, for a total value of $756,960.00. Following the sale, the chief financial officer owned 266,681 shares in the company, valued at $25,233,356.22. This trade represents a 2.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 220,666 shares of company stock valued at $20,728,673. Insiders own 4.10% of the company’s stock.

Arch Capital Group Price Performance

Shares of NASDAQ ACGL opened at $91.80 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.55 and a quick ratio of 0.55. The stock has a market capitalization of $33.29 billion, a price-to-earnings ratio of 8.59, a PEG ratio of 2.28 and a beta of 0.45. The firm’s 50 day simple moving average is $93.66 and its 200-day simple moving average is $90.91. Arch Capital Group Ltd. has a 12 month low of $82.44 and a 12 month high of $97.60.

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 net margin of 20.96% and a return on equity of 16.38%. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same period in the previous year, the business posted $1.99 EPS. Analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Analyst Ratings Changes

ACGL has been the topic of several research analyst reports. Morgan Stanley set a $125.00 target price on Arch Capital Group in a research note on Friday. Keefe, Bruyette & Woods raised their price target on Arch Capital Group from $100.00 to $102.00 and gave the stock a “market perform” rating in a report on Tuesday, January 6th. Barclays set a $104.00 price target on Arch Capital Group and gave the stock an “equal weight” rating in a research note on Thursday, January 8th. Evercore ISI set a $100.00 price objective on shares of Arch Capital Group and gave the company an “in-line” rating in a research report on Wednesday, January 7th. Finally, Wells Fargo & Company lowered their target price on shares of Arch Capital Group from $111.00 to $106.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Eight equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $107.53.

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.