Headlands Technologies LLC Sells 11,669 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Key Points

• Headlands Technologies LLC reduced its stake in Arch Capital Group by 39.0%, ending the first quarter with 18,274 shares worth approximately $1,758,000.
• Insider transactions revealed that John M. Pasquesi and CFO Francois Morin sold a combined total of 87,690 shares, indicating decreases in their ownership of the stock.
• Arch Capital Group recently topped earnings expectations, reporting $2.58 earnings per share for the last quarter, exceeding the consensus estimate of $2.30.

Headlands Technologies LLC reduced its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 39.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,274 shares of the insurance provider's stock after selling 11,669 shares during the quarter. Headlands Technologies LLC's holdings in Arch Capital Group were worth $1,758,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ACGL. Bank of Montreal Can lifted its position in Arch Capital Group by 10.4% in the 4th quarter. Bank of Montreal Can now owns 396,612 shares of the insurance provider's stock valued at $36,627,000 after acquiring an additional 37,483 shares in the last quarter. Rathbones Group PLC acquired a new stake in Arch Capital Group in the 4th quarter valued at $366,000. FIL Ltd increased its stake in Arch Capital Group by 93.3% in the 4th quarter. FIL Ltd now owns 337,473 shares of the insurance provider's stock valued at $31,166,000 after buying an additional 162,918 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Arch Capital Group in the 4th quarter valued at $537,000. Finally, Raymond James Financial Inc. acquired a new stake in Arch Capital Group in the 4th quarter valued at $41,876,000. 89.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports 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 research note on Monday, May 19th. Wells Fargo & Company lowered their price target on shares of Arch Capital Group from $110.00 to $107.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Barclays lowered their price target on shares of Arch Capital Group from $100.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. Keefe, Bruyette & Woods lifted their price target on shares of Arch Capital Group from $101.00 to $102.00 and gave the company a "market perform" rating in a research note on Tuesday. Finally, JMP Securities reiterated a "market outperform" rating and issued a $125.00 price target on shares of Arch Capital Group in a research note on Wednesday, April 30th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $113.07.

Arch Capital Group Stock Performance

Shares of Arch Capital Group stock traded down $0.03 during trading on Friday, hitting $88.83. 1,345,043 shares of the stock were exchanged, compared to its average volume of 2,797,913. The stock has a market capitalization of $33.15 billion, a price-to-earnings ratio of 9.17, a price-to-earnings-growth ratio of 6.63 and a beta of 0.49. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average price of $89.84 and a 200-day moving average price of $91.39. Arch Capital Group Ltd. has a 1-year low of $82.49 and a 1-year high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.30 by $0.28. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm posted $2.57 EPS. As a group, equities analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Insider Activity

In related news, CFO Francois Morin sold 12,630 shares of Arch Capital Group stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $94.58, for a total transaction of $1,194,545.40. Following the completion of the sale, the chief financial officer owned 274,681 shares of the company's stock, valued at approximately $25,979,328.98. The trade was a 4.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John M. Pasquesi sold 75,060 shares of Arch Capital Group stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $94.01, for a total transaction of $7,056,390.60. Following the sale, the insider directly owned 579,218 shares of the company's stock, valued at $54,452,284.18. The trade was a 11.47% decrease in their position. The disclosure for this sale can be found here. Insiders own 4.20% of the company's stock.

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.