SeaBridge Investment Advisors LLC Sells 3,262 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

SeaBridge Investment Advisors LLC reduced its position in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 13.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,748 shares of the insurance provider's stock after selling 3,262 shares during the quarter. SeaBridge Investment Advisors LLC's holdings in Arch Capital Group were worth $1,996,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Resonant Capital Advisors LLC lifted its position in Arch Capital Group by 1.7% during the first quarter. Resonant Capital Advisors LLC now owns 6,672 shares of the insurance provider's stock valued at $642,000 after purchasing an additional 113 shares during the last quarter. Horizon Advisory Services Inc. lifted its position in Arch Capital Group by 4.2% during the first quarter. Horizon Advisory Services Inc. now owns 2,996 shares of the insurance provider's stock valued at $288,000 after purchasing an additional 120 shares during the last quarter. Cim LLC lifted its position in Arch Capital Group by 1.1% during the fourth quarter. Cim LLC now owns 11,194 shares of the insurance provider's stock valued at $1,034,000 after purchasing an additional 124 shares during the last quarter. CreativeOne Wealth LLC raised its stake in shares of Arch Capital Group by 4.9% during the fourth quarter. CreativeOne Wealth LLC now owns 2,682 shares of the insurance provider's stock worth $248,000 after acquiring an additional 126 shares in the last quarter. Finally, Aurora Investment Managers LLC. raised its stake in shares of Arch Capital Group by 0.6% during the first quarter. Aurora Investment Managers LLC. now owns 22,530 shares of the insurance provider's stock worth $2,167,000 after acquiring an additional 135 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Louis T. Petrillo sold 16,650 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $94.53, for a total value of $1,573,924.50. Following the completion of the sale, the insider directly owned 140,023 shares of the company's stock, valued at approximately $13,236,374.19. This represents a 10.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Nicolas Papadopoulo sold 7,636 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $92.48, for a total transaction of $706,177.28. Following the sale, the chief executive officer directly owned 795,718 shares of the company's stock, valued at approximately $73,588,000.64. This trade represents a 0.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 111,976 shares of company stock valued at $10,531,038. 4.20% of the stock is owned by insiders.

Arch Capital Group Stock Performance

Shares of NASDAQ ACGL traded down $0.31 during midday trading on Friday, hitting $88.35. 6,501,656 shares of the company's stock traded hands, compared to its average volume of 1,785,606. The firm has a fifty day moving average of $91.51 and a 200 day moving average of $91.91. The stock has a market capitalization of $33.11 billion, a price-to-earnings ratio of 9.05, a price-to-earnings-growth ratio of 6.17 and a beta of 0.51. Arch Capital Group Ltd. has a 1 year low of $82.49 and a 1 year high of $116.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its earnings results on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.59 by ($0.05). The firm had revenue of $4.52 billion during the quarter, compared to analysts' expectations of $4.75 billion. Arch Capital Group had a return on equity of 15.79% and a net margin of 20.72%. The company's revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.45 earnings per share. On average, analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on ACGL shares. Jefferies Financial Group downgraded shares of Arch Capital Group from a "buy" rating to a "hold" rating and decreased their price target for the stock from $106.00 to $100.00 in a research note on Tuesday, June 10th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $101.00 target price (down previously from $113.00) on shares of Arch Capital Group in a report on Wednesday, July 9th. Wells Fargo & Company restated an "overweight" rating and set a $110.00 target price (up previously from $108.00) on shares of Arch Capital Group in a report on Thursday, July 10th. JMP Securities restated a "market outperform" rating and set a $125.00 target price on shares of Arch Capital Group in a report on Wednesday, April 30th. Finally, UBS Group boosted their target price on shares of Arch Capital Group to $124.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $113.60.

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.