Allianz Asset Management GmbH Reduces Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Allianz Asset Management GmbH trimmed its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 30.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 223,190 shares of the insurance provider's stock after selling 98,015 shares during the period. Allianz Asset Management GmbH owned about 0.06% of Arch Capital Group worth $21,466,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital A Wealth Management LLC bought a new position in Arch Capital Group in the fourth quarter worth about $25,000. Bartlett & CO. Wealth Management LLC purchased a new stake in Arch Capital Group in the first quarter worth about $27,000. Wayfinding Financial LLC purchased a new stake in Arch Capital Group in the first quarter worth about $31,000. Grove Bank & Trust purchased a new stake in Arch Capital Group in the first quarter worth about $40,000. Finally, Quarry LP purchased a new stake in Arch Capital Group in the fourth quarter worth about $58,000. 89.07% of the stock is owned by institutional investors.

Arch Capital Group Stock Up 1.0%

Shares of NASDAQ:ACGL traded up $0.89 during trading hours on Friday, hitting $88.89. The company's stock had a trading volume of 2,552,610 shares, compared to its average volume of 2,684,975. Arch Capital Group Ltd. has a 52 week low of $82.49 and a 52 week high of $116.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $33.31 billion, a price-to-earnings ratio of 9.11, a P/E/G ratio of 6.12 and a beta of 0.51. The firm's fifty day moving average price is $91.01 and its 200 day moving average price is $91.79.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The insurance provider reported $1.54 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.05). The firm had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.75 billion. Arch Capital Group had a return on equity of 15.79% and a net margin of 20.72%. The company's revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.45 EPS. As a group, research analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Insider Activity

In related news, CEO Nicolas Papadopoulo sold 7,636 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $92.48, for a total transaction of $706,177.28. Following the completion of the transaction, the chief executive officer owned 795,718 shares in the company, valued at $73,588,000.64. The trade was a 0.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Louis T. Petrillo sold 16,650 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.53, for a total transaction of $1,573,924.50. Following the transaction, the insider owned 140,023 shares of the company's stock, valued at approximately $13,236,374.19. This trade represents a 10.63% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,976 shares of company stock worth $10,531,038. Insiders own 4.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Morgan Stanley set a $110.00 price target on shares of Arch Capital Group and gave the company an "overweight" rating in a report on Monday, May 19th. UBS Group increased their price target on shares of Arch Capital Group to $124.00 and gave the company a "buy" rating in a report on Thursday, June 12th. JPMorgan Chase & Co. increased their price target on shares of Arch Capital Group from $106.00 to $107.00 and gave the company a "neutral" rating in a report on Tuesday, April 8th. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $101.00 price target (down previously from $113.00) on shares of Arch Capital Group in a report on Wednesday, July 9th. Finally, Barclays dropped their target price on shares of Arch Capital Group from $100.00 to $93.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $113.60.

Arch Capital Group Company 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.