Amundi Sells 13,233 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• Amundi reduced its Arch Capital Group stake by 0.7%, selling 13,233 shares and retaining 1.96 million shares worth approximately $188.1 million. Institutional investors collectively own 89.07% of ACGL.
• Arch Capital reported quarterly earnings of $2.56 per share, exceeding the $2.47 consensus estimate, while revenue reached $8.72 billion. The company posted a 24.40% net margin and 17.06% return on equity.
• Analyst sentiment is mixed but leans positive: eight analysts rate ACGL a Buy, seven recommend Hold and one recommends Sell. The consensus rating is Hold, with an average price target of $110.39 versus a recent share price of $101.14.

Amundi trimmed its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 0.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,959,309 shares of the insurance provider's stock after selling 13,233 shares during the period. Amundi owned approximately 0.56% of Arch Capital Group worth $188,074,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Geneos Wealth Management Inc. raised its stake in shares of Arch Capital Group by 157.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider's stock valued at $65,000 after purchasing an additional 412 shares during the period. Sivia Capital Partners LLC bought a new position in Arch Capital Group in the 2nd quarter worth about $253,000. CW Advisors LLC boosted its stake in Arch Capital Group by 6.5% in the 2nd quarter. CW Advisors LLC now owns 3,098 shares of the insurance provider's stock worth $282,000 after purchasing an additional 189 shares during the period. Jump Financial LLC bought a new position in Arch Capital Group in the 2nd quarter worth about $667,000. Finally, Cerity Partners LLC grew its holdings in Arch Capital Group by 11.6% during the 2nd quarter. Cerity Partners LLC now owns 47,486 shares of the insurance provider's stock valued at $4,324,000 after buying an additional 4,933 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Stock Performance

Shares of ACGL opened at $101.14 on Friday. The company has a market cap of $35.34 billion, a PE ratio of 7.91, a price-to-earnings-growth ratio of 5.20 and a beta of 0.31. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average price of $96.42 and a 200-day moving average price of $96.07. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $107.08.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.09. The company had revenue of $8.72 billion for the quarter, compared to analysts' expectations of $4.36 billion. Arch Capital Group had a net margin of 24.40% and a return on equity of 17.06%. During the same period in the prior year, the business earned $2.58 earnings per share. As a group, equities analysts forecast that Arch Capital Group Ltd. will post 9.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Mizuho upped their price target on Arch Capital Group from $101.00 to $104.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Royal Bank Of Canada restated an "outperform" rating and issued a $120.00 price objective (up from $115.00) on shares of Arch Capital Group in a research report on Thursday. UBS Group reaffirmed a "buy" rating and set a $120.00 price objective (up from $114.00) on shares of Arch Capital Group in a research note on Wednesday, July 8th. Atlantic Securities set a $126.00 target price on shares of Arch Capital Group in a report on Wednesday, July 15th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $102.00 target price (up from $100.00) on shares of Arch Capital Group in a research note on Thursday, July 9th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $110.39.

Insider Transactions at Arch Capital Group

In other Arch Capital Group news, Director Brian S. Posner sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total value of $58,980.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.30% of the stock is currently owned by insiders.

About Arch Capital Group

Arch Capital Group Ltd. NASDAQ: ACGL is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch's product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.

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