New York State Common Retirement Fund Sells 6,497 Shares of Arch Capital Group Ltd. $ACGL

New York State Common Retirement Fund reduced its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 531,830 shares of the insurance provider’s stock after selling 6,497 shares during the quarter. New York State Common Retirement Fund’s holdings in Arch Capital Group were worth $48,253,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of 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 purchasing an additional 493,583 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in Arch Capital Group by 1.7% during 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 buying an additional 408,950 shares in the last quarter. Geode Capital Management LLC raised its position in 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 valued at $952,523,000 after buying an additional 115,465 shares during the last quarter. JPMorgan Chase & Co. raised its position in Arch Capital Group by 4.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,830,301 shares of the insurance provider’s stock valued at $712,956,000 after buying an additional 359,710 shares during the last quarter. Finally, Norges Bank bought a new position in Arch Capital Group during the 2nd quarter valued at $441,551,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Transactions at Arch Capital Group

In related 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 transaction of $756,960.00. Following the completion of the sale, the chief financial officer directly owned 266,681 shares in the company, valued at $25,233,356.22. This represents a 2.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider John M. Pasquesi sold 8,800 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $94.17, for a total value of $828,696.00. Following the completion of the sale, the insider owned 289,556 shares of the company’s stock, valued at approximately $27,267,488.52. This trade represents a 2.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 220,666 shares of company stock worth $20,728,673 in the last 90 days. Company insiders own 4.20% of the company’s stock.

Arch Capital Group Trading Up 0.3%

Shares of Arch Capital Group stock opened at $96.04 on Friday. The company’s 50-day moving average price is $93.95 and its 200-day moving average price is $91.15. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.13. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $97.60. The company has a market cap of $34.83 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 2.01 and a beta of 0.45.

Analyst Ratings Changes

Several brokerages have recently commented on ACGL. Citigroup reiterated a “market outperform” rating on shares of Arch Capital Group in a report on Friday, January 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $97.00 price objective (up from $93.00) on shares of Arch Capital Group in a research report on Wednesday, January 14th. The Goldman Sachs Group reiterated a “sell” rating and issued a $93.00 price objective (up previously from $84.00) on shares of Arch Capital Group in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods lifted their target price on shares of Arch Capital Group from $100.00 to $102.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 6th. Finally, Barclays set a $104.00 target price on Arch Capital Group and gave the company an “equal weight” rating in a report on Thursday, January 8th. Eight investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $107.53.

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.