Arch Capital Group Ltd. (NASDAQ:ACGL) Shares Sold by Perpetual Ltd

Perpetual Ltd cut its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 72.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 89,059 shares of the insurance provider’s stock after selling 228,607 shares during the quarter. Perpetual Ltd’s holdings in Arch Capital Group were worth $9,964,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Capital International Investors grew its position in Arch Capital Group by 61.1% during the first quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock valued at $380,167,000 after buying an additional 1,560,173 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Arch Capital Group by 61.6% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,191,282 shares of the insurance provider’s stock worth $237,017,000 after acquiring an additional 1,216,080 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Arch Capital Group by 11.4% during the first quarter. Principal Financial Group Inc. now owns 6,800,236 shares of the insurance provider’s stock worth $628,614,000 after purchasing an additional 693,608 shares in the last quarter. Gladstone Capital Management LLP lifted its stake in Arch Capital Group by 52.8% in the 4th quarter. Gladstone Capital Management LLP now owns 1,385,307 shares of the insurance provider’s stock valued at $102,887,000 after buying an additional 478,570 shares in the last quarter. Finally, Brandes Investment Partners LP acquired a new stake in Arch Capital Group in the 2nd quarter worth about $48,119,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Activity

In other news, CFO Francois Morin sold 11,460 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the transaction, the chief financial officer now owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ACGL shares. JPMorgan Chase & Co. raised their target price on Arch Capital Group from $108.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday. Jefferies Financial Group lifted their target price on shares of Arch Capital Group from $114.00 to $134.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada raised their price target on shares of Arch Capital Group from $108.00 to $112.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. JMP Securities upped their price objective on shares of Arch Capital Group from $110.00 to $115.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 31st. Finally, StockNews.com lowered shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $118.87.

Arch Capital Group Trading Up 0.7 %

NASDAQ ACGL opened at $113.90 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a market capitalization of $42.83 billion, a P/E ratio of 8.01, a PEG ratio of 2.03 and a beta of 0.59. The firm’s 50-day moving average is $108.60 and its two-hundred day moving average is $101.07. Arch Capital Group Ltd. has a 12 month low of $72.85 and a 12 month high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.36. The firm had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the company posted $1.92 EPS. On average, sell-side analysts anticipate that Arch Capital Group Ltd. will post 9.11 earnings per share for the current year.

About Arch Capital Group

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.