Arch Capital Group Ltd. $ACGL Holdings Decreased by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company reduced its holdings in Arch Capital Group Ltd. by 12.2%, selling 31,462 shares during the first quarter.
• Arch Capital Group reported $2.58 EPS for the quarter, surpassing the consensus estimate of $2.30, with revenues of $4.35 billion.
• Analysts have a Moderate Buy rating on Arch Capital Group, with an average target price of $111.27 per share.

The Manufacturers Life Insurance Company cut its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 12.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 226,285 shares of the insurance provider's stock after selling 31,462 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of Arch Capital Group worth $21,764,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in ACGL. Nuveen LLC bought a new position in shares of Arch Capital Group during the first quarter valued at approximately $399,651,000. JPMorgan Chase & Co. grew its holdings in Arch Capital Group by 30.5% in the 1st quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider's stock worth $718,522,000 after buying an additional 1,743,945 shares in the last quarter. GAMMA Investing LLC grew its holdings in Arch Capital Group by 10,817.9% in the 1st 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 in the last quarter. GQG Partners LLC bought a new position in Arch Capital Group in the 1st quarter worth approximately $71,769,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Arch Capital Group by 17.1% in 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 buying an additional 522,484 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Insider Activity at Arch Capital Group

In other news, insider Maamoun Rajeh sold 10,000 shares of the stock in a transaction 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 sale, the insider owned 433,589 shares in the company, valued at approximately $40,822,404.35. This represents a 2.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ACGL. UBS Group reissued a "buy" rating and issued a $118.00 price objective (down from $124.00) on shares of Arch Capital Group in a report on Monday, August 4th. Citigroup began coverage on Arch Capital Group in a report on Wednesday, August 13th. They issued a "buy" rating and a $113.00 price objective for the company. Cowen reissued a "buy" rating on shares of Arch Capital Group in a report on Monday, August 4th. Morgan Stanley set a $110.00 price objective on Arch Capital Group and gave the stock an "overweight" rating in a report on Monday, May 19th. Finally, Cantor Fitzgerald raised Arch Capital Group to a "hold" rating in a research note on Wednesday, August 13th. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $111.27.

Arch Capital Group Price Performance

Shares of ACGL traded down $0.93 during midday trading on Friday, reaching $91.29. The stock had a trading volume of 1,402,519 shares, compared to its average volume of 1,761,956. Arch Capital Group Ltd. has a 52 week low of $82.49 and a 52 week high of $116.47. The firm's 50 day moving average price is $89.70 and its 200-day moving average price is $91.32. The company has a market capitalization of $34.07 billion, a P/E ratio of 9.42, a P/E/G ratio of 5.59 and a beta of 0.51. 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 announced its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.30 by $0.28. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%.The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the prior year, the firm earned $2.57 EPS. On average, analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

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.