Arch Capital Group Ltd. (NASDAQ:ACGL) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 31.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 218,067 shares of the insurance provider’s stock after selling 98,744 shares during the period. Intech Investment Management LLC owned 0.06% of Arch Capital Group worth $22,001,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Arch Capital Group by 0.3% during the first quarter. Vanguard Group Inc. now owns 40,858,890 shares of the insurance provider’s stock valued at $3,776,996,000 after buying an additional 104,008 shares during the last quarter. Capital World Investors raised its holdings in Arch Capital Group by 0.6% during the fourth quarter. Capital World Investors now owns 10,611,092 shares of the insurance provider’s stock worth $788,086,000 after purchasing an additional 58,862 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Arch Capital Group by 4.4% during the second quarter. Principal Financial Group Inc. now owns 7,100,952 shares of the insurance provider’s stock worth $716,415,000 after purchasing an additional 300,716 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Arch Capital Group by 1.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,907,122 shares of the insurance provider’s stock worth $546,054,000 after purchasing an additional 99,329 shares in the last quarter. Finally, Capital International Investors raised its holdings 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 worth $380,167,000 after purchasing an additional 1,560,173 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ACGL has been the topic of several recent analyst reports. Royal Bank of Canada boosted their target price on Arch Capital Group from $108.00 to $112.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upped their price target on Arch Capital Group from $106.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods upped their price target on Arch Capital Group from $120.00 to $121.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Barclays assumed coverage on Arch Capital Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 price target on the stock. Finally, Bank of America lowered their price objective on shares of Arch Capital Group from $119.00 to $118.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.93.

Arch Capital Group Trading Down 1.4 %

Arch Capital Group stock opened at $111.42 on Friday. The company’s fifty day simple moving average is $103.53 and its 200-day simple moving average is $98.62. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16. Arch Capital Group Ltd. has a 12 month low of $72.85 and a 12 month high of $114.69. The stock has a market cap of $41.90 billion, a P/E ratio of 8.79, a P/E/G ratio of 2.07 and a beta of 0.60.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.21 by $0.36. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The business had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the previous year, the company posted $1.92 EPS. Arch Capital Group’s revenue was up 10.3% on a year-over-year basis. As a group, sell-side analysts forecast that Arch Capital Group Ltd. will post 9.01 EPS for the current fiscal year.

Insider Activity at Arch Capital Group

In related news, CFO Francois Morin sold 11,460 shares of Arch Capital Group stock in a transaction 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 sale, the chief financial officer now owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.20% of the stock is owned by company insiders.

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.