Citigroup Inc. Has $35.38 Million Holdings in Arch Capital Group Ltd. $ACGL

Citigroup Inc. lessened its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 35.7% during the third quarter, HoldingsChannel.com reports. The firm owned 389,935 shares of the insurance provider’s stock after selling 216,617 shares during the period. Citigroup Inc.’s holdings in Arch Capital Group were worth $35,379,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its stake in Arch Capital Group by 426.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 384 shares of the insurance provider’s stock valued at $33,000 after buying an additional 311 shares during the last quarter. Quent Capital LLC bought a new position in shares of Arch Capital Group in the 3rd quarter valued at about $37,000. Richardson Financial Services Inc. raised its holdings in Arch Capital Group by 63.3% during the third quarter. Richardson Financial Services Inc. now owns 418 shares of the insurance provider’s stock worth $38,000 after acquiring an additional 162 shares in the last quarter. TD Waterhouse Canada Inc. raised its holdings 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 worth $43,000 after acquiring an additional 112 shares in the last quarter. Finally, Root Financial Partners LLC acquired a new position in Arch Capital Group during the third quarter valued at approximately $54,000. Institutional investors own 89.07% of the company’s stock.

Arch Capital Group Price Performance

NASDAQ:ACGL opened at $99.18 on Wednesday. The company has a market cap of $35.97 billion, a P/E ratio of 8.54, a P/E/G ratio of 3.95 and a beta of 0.42. The firm’s fifty day moving average price is $95.86 and its two-hundred day moving average price is $92.47. Arch Capital Group Ltd. has a one year low of $82.44 and a one year high of $103.39. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.53 and a quick ratio of 0.55.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Monday, February 9th. The insurance provider reported $2.98 EPS for the quarter, topping the consensus estimate of $2.34 by $0.64. Arch Capital Group had a net margin of 22.07% and a return on equity of 16.73%. The business had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the previous year, the firm posted $2.26 EPS. Equities analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ACGL. UBS Group reaffirmed a “buy” rating and set a $114.00 price target (up from $113.00) on shares of Arch Capital Group in a research report on Tuesday, February 17th. Evercore set a $100.00 price target on shares of Arch Capital Group and gave the stock an “in-line” rating in a research report on Wednesday, January 7th. Wells Fargo & Company increased their price target on shares of Arch Capital Group from $106.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, February 11th. The Goldman Sachs Group restated a “sell” rating and set a $93.00 price objective (up from $84.00) on shares of Arch Capital Group in a research note on Wednesday, January 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of Arch Capital Group from $111.00 to $117.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Nine investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Arch Capital Group currently has an average rating of “Hold” and a consensus target price of $109.20.

Insider Transactions at Arch Capital Group

In other news, insider Maamoun Rajeh sold 47,430 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider owned 433,589 shares of the company’s stock, valued at approximately $41,676,574.68. This represents a 9.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Francois Morin sold 8,000 shares of Arch Capital Group stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $94.62, for a total value of $756,960.00. Following the sale, 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. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 268,096 shares of company stock worth $25,287,645 over the last quarter. Company insiders own 4.10% of the company’s stock.

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.