Park Avenue Securities LLC Sells 3,148 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Park Avenue Securities LLC cut its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 11.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,582 shares of the insurance provider’s stock after selling 3,148 shares during the quarter. Park Avenue Securities LLC’s holdings in Arch Capital Group were worth $2,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ACGL. Czech National Bank lifted its holdings in Arch Capital Group by 7.1% in the third quarter. Czech National Bank now owns 76,296 shares of the insurance provider’s stock worth $8,536,000 after buying an additional 5,033 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in shares of Arch Capital Group by 24.3% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,086 shares of the insurance provider’s stock valued at $122,000 after purchasing an additional 212 shares during the period. M&R Capital Management Inc. lifted its stake in shares of Arch Capital Group by 1.5% in the 3rd quarter. M&R Capital Management Inc. now owns 36,608 shares of the insurance provider’s stock valued at $4,096,000 after purchasing an additional 548 shares during the period. Sanctuary Advisors LLC purchased a new stake in Arch Capital Group in the second quarter worth $5,412,000. Finally, Cetera Investment Advisers grew its stake in Arch Capital Group by 18.4% in the second quarter. Cetera Investment Advisers now owns 49,193 shares of the insurance provider’s stock worth $4,963,000 after purchasing an additional 7,652 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Trading Up 1.8 %

NASDAQ:ACGL opened at $114.86 on Friday. The company has a market cap of $43.19 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 2.06 and a beta of 0.59. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.16. The company has a 50 day simple moving average of $107.47 and a two-hundred day simple moving average of $100.58. Arch Capital Group Ltd. has a 12 month low of $72.85 and a 12 month high of $115.03.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 EPS 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 company had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the previous year, the company posted $1.92 earnings per share. Arch Capital Group’s revenue was up 10.3% compared to the same quarter last year. Research analysts forecast that Arch Capital Group Ltd. will post 9.01 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on ACGL shares. Bank of America dropped their target price on shares of Arch Capital Group from $119.00 to $118.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Barclays assumed coverage on shares of Arch Capital Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on shares of Arch Capital Group from $106.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. JMP Securities boosted their target price on Arch Capital Group from $110.00 to $115.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 31st. Finally, StockNews.com downgraded Arch Capital Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.73.

Insider Buying and Selling at Arch Capital Group

In other news, CFO Francois Morin sold 11,460 shares of the 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 transaction, the chief financial officer now owns 221,779 shares in the company, valued at $22,723,476.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.20% of the company’s stock.

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.