State of Alaska Department of Revenue Sells 7,950 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

State of Alaska Department of Revenue trimmed its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 11.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,446 shares of the insurance provider’s stock after selling 7,950 shares during the quarter. State of Alaska Department of Revenue’s holdings in Arch Capital Group were worth $5,864,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ACGL. Sunbelt Securities Inc. boosted its stake in shares of Arch Capital Group by 1.8% in the 1st quarter. Sunbelt Securities Inc. now owns 6,679 shares of the insurance provider’s stock valued at $617,000 after purchasing an additional 117 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in Arch Capital Group by 2.7% in the fourth quarter. Harbor Capital Advisors Inc. now owns 5,448 shares of the insurance provider’s stock valued at $405,000 after acquiring an additional 144 shares during the last quarter. Chase Investment Counsel Corp grew its holdings in Arch Capital Group by 0.4% during the 4th quarter. Chase Investment Counsel Corp now owns 39,656 shares of the insurance provider’s stock worth $2,945,000 after acquiring an additional 148 shares during the period. Legacy Wealth Asset Management LLC grew its holdings in Arch Capital Group by 2.2% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 6,985 shares of the insurance provider’s stock worth $519,000 after acquiring an additional 149 shares during the period. Finally, Balentine LLC raised its position in shares of Arch Capital Group by 2.8% during the 4th quarter. Balentine LLC now owns 5,527 shares of the insurance provider’s stock valued at $410,000 after acquiring an additional 149 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Arch Capital Group Stock Down 2.3 %

Shares of Arch Capital Group stock opened at $97.65 on Thursday. Arch Capital Group Ltd. has a 52-week low of $72.33 and a 52-week high of $103.79. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 0.59. The business’s 50 day simple moving average is $99.42 and its 200 day simple moving average is $89.91. The firm has a market cap of $36.67 billion, a PE ratio of 7.71, a P/E/G ratio of 1.71 and a beta of 0.58.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.39. Arch Capital Group had a net margin of 33.65% and a return on equity of 21.85%. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter last year, the company posted $1.73 EPS. Arch Capital Group’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, analysts predict that Arch Capital Group Ltd. will post 8.55 earnings per share for the current fiscal year.

Insider Transactions at Arch Capital Group

In other news, CEO David Gansberg sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $96.64, for a total value of $966,400.00. Following the transaction, the chief executive officer now owns 228,035 shares of the company’s stock, valued at $22,037,302.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Bank of America raised their price target on Arch Capital Group from $109.00 to $119.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. StockNews.com upgraded Arch Capital Group from a “hold” rating to a “buy” rating in a research report on Thursday. Evercore ISI upped their price target on Arch Capital Group from $98.00 to $100.00 and gave the company an “in-line” rating in a research note on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Arch Capital Group from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Morgan Stanley upped their target price on shares of Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $102.00.

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.