APG Asset Management N.V. Sells 24,600 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• APG Asset Management N.V. reduced its holdings in Arch Capital Group Ltd. by 6.7%, owning 342,400 shares after selling 24,600 shares, bringing the total value to approximately $30.5 million.
• Despite the reduction, 89.07% of Arch Capital Group’s stock is still held by hedge funds and institutional investors, indicating significant institutional interest.
• Analyst ratings for Arch Capital Group are mixed, with a consensus of "Moderate Buy" and an average price target of $111.27, suggesting potential for growth despite some recent downgrades.

APG Asset Management N.V. reduced its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 6.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 342,400 shares of the insurance provider's stock after selling 24,600 shares during the quarter. APG Asset Management N.V. owned about 0.09% of Arch Capital Group worth $30,487,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ACGL. Nuveen LLC bought a new stake in Arch Capital Group in the first quarter worth about $399,651,000. JPMorgan Chase & Co. lifted its holdings in shares of Arch Capital Group by 30.5% during the first quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider's stock valued at $718,522,000 after purchasing an additional 1,743,945 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Arch Capital Group by 10,817.9% in the first quarter. GAMMA Investing LLC now owns 806,181 shares of the insurance provider's stock worth $775,380,000 after buying an additional 798,797 shares during the period. GQG Partners LLC acquired a new stake in Arch Capital Group during the 1st quarter valued at $71,769,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Arch Capital Group by 17.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,576,223 shares of the insurance provider's stock worth $330,264,000 after acquiring an additional 522,484 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Arch Capital Group Price Performance

Shares of ACGL stock traded up $0.52 during trading hours on Friday, hitting $91.72. 309,707 shares of the company's stock were exchanged, compared to its average volume of 1,914,862. 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 stock has a market cap of $34.23 billion, a price-to-earnings ratio of 9.47, a price-to-earnings-growth ratio of 5.62 and a beta of 0.49. Arch Capital Group Ltd. has a 52 week low of $82.49 and a 52 week high of $116.47. The stock's 50-day moving average is $89.53 and its 200-day moving average is $91.18.

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

Insider Activity at Arch Capital Group

In related news, insider Maamoun Rajeh sold 10,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $94.15, for a total transaction of $941,500.00. Following the completion of the sale, the insider directly owned 433,589 shares of the company's stock, valued at $40,822,404.35. The trade was a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wells Fargo & Company lowered their price target on Arch Capital Group from $110.00 to $107.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Keefe, Bruyette & Woods boosted their target price on shares of Arch Capital Group from $102.00 to $103.00 and gave the stock a "market perform" rating in a research report on Thursday, August 14th. UBS Group reaffirmed a "buy" rating and issued a $118.00 price target (down from $124.00) on shares of Arch Capital Group in a research report on Monday, August 4th. Cantor Fitzgerald upgraded Arch Capital Group to a "hold" rating in a research note on Wednesday, August 13th. Finally, Citigroup initiated coverage on shares of Arch Capital Group in a report on Wednesday, August 13th. They issued a "buy" rating and a $113.00 price target for the company. Nine research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $111.27.

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.