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

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

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Arch Capital Group by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 41,999,603 shares of the insurance provider's stock worth $3,878,663,000 after purchasing an additional 182,150 shares during the period. Geode Capital Management LLC grew its position in shares of Arch Capital Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 11,010,756 shares of the insurance provider's stock valued at $1,014,648,000 after purchasing an additional 180,493 shares during the period. Nuveen Asset Management LLC raised its position in shares of Arch Capital Group by 1.9% in the fourth quarter. Nuveen Asset Management LLC now owns 4,888,997 shares of the insurance provider's stock valued at $451,499,000 after buying an additional 93,226 shares during the last quarter. Northern Trust Corp lifted its position in Arch Capital Group by 11.3% in the fourth quarter. Northern Trust Corp now owns 4,860,804 shares of the insurance provider's stock valued at $448,895,000 after buying an additional 495,262 shares during the last quarter. Finally, Norges Bank purchased a new position in Arch Capital Group during the 4th quarter valued at about $437,291,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Jefferies Financial Group cut Arch Capital Group from a "buy" rating to a "hold" rating and reduced their price objective for the company from $106.00 to $100.00 in a research note on Tuesday, June 10th. JMP Securities reiterated a "market outperform" rating and set a $125.00 target price on shares of Arch Capital Group in a research report on Wednesday, April 30th. Barclays dropped their price objective on shares of Arch Capital Group from $100.00 to $93.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. UBS Group boosted their price objective on shares of Arch Capital Group to $124.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Finally, JPMorgan Chase & Co. lifted their price target on Arch Capital Group from $106.00 to $107.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 8th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $113.60.

Insider Activity

In other Arch Capital Group news, insider Louis T. Petrillo sold 16,650 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.53, for a total transaction of $1,573,924.50. Following the transaction, the insider directly owned 140,023 shares in the company, valued at approximately $13,236,374.19. This represents a 10.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John M. Pasquesi sold 75,060 shares of Arch Capital Group stock in a transaction on 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 transaction, the insider directly owned 579,218 shares in the company, valued at $54,452,284.18. This represents a 11.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,976 shares of company stock worth $10,531,038 in the last 90 days. 4.20% of the stock is owned by company insiders.

Arch Capital Group Stock Performance

NASDAQ:ACGL traded up $0.88 during mid-day trading on Wednesday, hitting $89.07. The stock had a trading volume of 2,349,068 shares, compared to its average volume of 1,757,057. The company's 50 day simple moving average is $91.82 and its 200 day simple moving average is $91.98. Arch Capital Group Ltd. has a twelve month low of $82.49 and a twelve month high of $116.47. The stock has a market cap of $33.38 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 6.13 and a beta of 0.51. 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 issued its quarterly earnings results on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.59 by ($0.05). The company had revenue of $4.52 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.45 EPS. On average, equities research analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

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.