California Public Employees Retirement System Sells 286,839 Shares of Arch Capital Group Ltd. $ACGL

California Public Employees Retirement System lowered its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 25.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 834,282 shares of the insurance provider’s stock after selling 286,839 shares during the period. California Public Employees Retirement System’s holdings in Arch Capital Group were worth $80,083,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Arch Capital Group during the 4th quarter valued at approximately $463,208,000. Morgan Stanley grew its position in shares of Arch Capital Group by 0.8% in the fourth quarter. Morgan Stanley now owns 4,289,082 shares of the insurance provider’s stock valued at $411,409,000 after purchasing an additional 33,132 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Arch Capital Group by 5.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,949,978 shares of the insurance provider’s stock valued at $282,962,000 after purchasing an additional 160,326 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Arch Capital Group by 4.3% during the 4th quarter. Legal & General Group Plc now owns 2,944,169 shares of the insurance provider’s stock valued at $282,405,000 after purchasing an additional 121,090 shares during the period. Finally, UBS Group AG lifted its holdings in shares of Arch Capital Group by 56.4% in the third quarter. UBS Group AG now owns 2,738,518 shares of the insurance provider’s stock worth $248,466,000 after buying an additional 987,398 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, Director Brian S. Posner sold 3,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total value of $58,980.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel Joseph Houston purchased 5,300 shares of Arch Capital Group stock in a transaction that occurred on Thursday, April 30th. The shares were acquired at an average price of $94.08 per share, for a total transaction of $498,624.00. Following the acquisition, the director owned 9,915 shares in the company, valued at $932,803.20. This trade represents a 114.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Arch Capital Group from $110.00 to $114.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. UBS Group reiterated a “buy” rating and issued a $120.00 price objective (up from $114.00) on shares of Arch Capital Group in a research report on Wednesday, July 8th. Morgan Stanley increased their price objective on Arch Capital Group from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Mizuho lifted their price target on Arch Capital Group from $101.00 to $104.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $102.00 price objective (up from $100.00) on shares of Arch Capital Group in a report on Thursday, July 9th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $109.39.

Arch Capital Group Stock Performance

ACGL stock opened at $101.35 on Monday. The company has a market capitalization of $35.41 billion, a PE ratio of 7.78, a price-to-earnings-growth ratio of 5.04 and a beta of 0.31. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.55 and a current ratio of 0.55. Arch Capital Group Ltd. has a one year low of $82.44 and a one year high of $105.09. The company’s 50 day moving average price is $95.09 and its two-hundred day moving average price is $95.63.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share (EPS) for the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. The business had revenue of $4.52 billion during the quarter. As a group, analysts predict that Arch Capital Group Ltd. will post 9.35 earnings per share for the current fiscal year.

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.