Meiji Yasuda Asset Management Co Ltd. Sells 7,460 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Meiji Yasuda Asset Management Co Ltd. lessened its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 45.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,078 shares of the insurance provider’s stock after selling 7,460 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Arch Capital Group were worth $916,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Baldwin Brothers LLC MA raised its stake in Arch Capital Group by 50.7% in the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock valued at $31,000 after buying an additional 104 shares during the period. Sunbelt Securities Inc. raised its stake in Arch Capital Group by 1.8% in the first quarter. Sunbelt Securities Inc. now owns 6,679 shares of the insurance provider’s stock valued at $617,000 after buying an additional 117 shares during the period. Resonant Capital Advisors LLC raised its stake in Arch Capital Group by 2.1% in the first quarter. Resonant Capital Advisors LLC now owns 5,802 shares of the insurance provider’s stock valued at $536,000 after buying an additional 118 shares during the period. Versant Capital Management Inc raised its stake in Arch Capital Group by 40.3% in the second quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider’s stock valued at $46,000 after buying an additional 131 shares during the period. Finally, Headlands Technologies LLC raised its stake in Arch Capital Group by 1.1% in the first quarter. Headlands Technologies LLC now owns 12,538 shares of the insurance provider’s stock valued at $1,159,000 after buying an additional 141 shares during the period. Institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the completion of the sale, the chief financial officer now directly owns 221,779 shares in the company, valued at $22,723,476.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ACGL. JMP Securities upped their price objective on 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. Evercore ISI upped their price objective on Arch Capital Group from $100.00 to $104.00 and gave the company an “in-line” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upped their target price on Arch Capital Group from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Wells Fargo & Company decreased their target price on Arch Capital Group from $111.00 to $110.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Finally, Royal Bank of Canada upped their target price on Arch Capital Group from $108.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Arch Capital Group currently has an average rating of “Moderate Buy” and a consensus target price of $110.93.

Arch Capital Group Trading Down 1.4 %

Shares of NASDAQ:ACGL opened at $111.42 on Friday. The company has a market capitalization of $41.84 billion, a P/E ratio of 8.79, a P/E/G ratio of 2.00 and a beta of 0.60. Arch Capital Group Ltd. has a 1 year low of $72.85 and a 1 year high of $114.69. 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 business’s 50 day simple moving average is $103.53 and its 200 day simple moving average is $98.62.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.36. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The firm had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the prior year, the company earned $1.92 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. On average, research analysts anticipate that Arch Capital Group Ltd. will post 9.01 EPS for the current fiscal year.

Arch Capital Group Profile

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.