Allianz Asset Management GmbH Has $15.59 Million Position in Arch Capital Group Ltd. $ACGL

Key Points

• Allianz Asset Management GmbH reduced its stake in Arch Capital Group Ltd. by 23.3% to 171,244 shares, valued at approximately $15.59 million at the most recent quarter's end.
• Arch Capital Group reported an earnings per share (EPS) of $2.58, exceeding analysts' expectations of $2.30 for the quarter, with revenue of $4.35 billion.
• Several analysts have adjusted their price targets for Arch Capital Group, with UBS lowering its target to $118.00 while Wells Fargo increased theirs to $111.00, reflecting mixed ratings from the analyst community.

Allianz Asset Management GmbH lowered its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 23.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 171,244 shares of the insurance provider's stock after selling 51,946 shares during the quarter. Allianz Asset Management GmbH's holdings in Arch Capital Group were worth $15,592,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ACGL. Bartlett & CO. Wealth Management LLC purchased a new position in Arch Capital Group during the 1st quarter worth $27,000. Meeder Asset Management Inc. lifted its holdings in Arch Capital Group by 116.3% during the first quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock valued at $27,000 after purchasing an additional 150 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in Arch Capital Group during the first quarter valued at about $31,000. Zions Bancorporation National Association UT purchased a new stake in shares of Arch Capital Group in the first quarter worth about $37,000. Finally, Hemington Wealth Management lifted its holdings in shares of Arch Capital Group by 27.7% in the first quarter. Hemington Wealth Management now owns 548 shares of the insurance provider's stock worth $52,000 after buying an additional 119 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Trading Up 0.5%

ACGL stock opened at $86.97 on Tuesday. The company has a market capitalization of $32.46 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 5.01 and a beta of 0.47. Arch Capital Group Ltd. has a 1-year low of $82.49 and a 1-year high of $109.61. The business has a 50 day simple moving average of $90.61 and a two-hundred day simple moving average of $90.79. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.30 by $0.28. The firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.29 billion. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%.During the same period in the prior year, the company earned $2.57 EPS. Research analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on ACGL shares. UBS Group restated a "buy" rating and issued a $118.00 price objective (down from $124.00) on shares of Arch Capital Group in a research report on Monday, August 4th. Weiss Ratings reissued a "hold (c+)" rating on shares of Arch Capital Group in a research report on Wednesday, October 8th. Barclays set a $99.00 price objective on Arch Capital Group and gave the company an "equal weight" rating in a research report on Wednesday, October 8th. Wells Fargo & Company lifted their price target on Arch Capital Group from $107.00 to $111.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group set a $88.00 price objective on Arch Capital Group and gave the stock a "sell" rating in a report on Tuesday, October 14th. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $108.71.

Insider Activity at Arch Capital Group

In other news, insider Maamoun Rajeh sold 10,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total transaction of $941,500.00. Following the completion of the transaction, the insider directly owned 433,589 shares in the company, valued at approximately $40,822,404.35. This represents a 2.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.10% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.