Bleakley Financial Group LLC Sells 5,148 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Bleakley Financial Group LLC lowered its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 29.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,392 shares of the insurance provider's stock after selling 5,148 shares during the quarter. Bleakley Financial Group LLC's holdings in Arch Capital Group were worth $1,192,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of 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 valued at $3,878,663,000 after acquiring an additional 182,150 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Arch Capital Group by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 11,010,756 shares of the insurance provider's stock worth $1,014,648,000 after buying an additional 180,493 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of Arch Capital Group by 1.9% during the 4th quarter. Nuveen Asset Management LLC now owns 4,888,997 shares of the insurance provider's stock worth $451,499,000 after buying an additional 93,226 shares in the last quarter. Northern Trust Corp boosted its position in Arch Capital Group by 11.3% during the fourth quarter. Northern Trust Corp now owns 4,860,804 shares of the insurance provider's stock valued at $448,895,000 after purchasing an additional 495,262 shares in the last quarter. Finally, Norges Bank bought a new stake in Arch Capital Group during the fourth quarter valued at about $437,291,000. 89.07% of the stock is currently owned by institutional investors.

Arch Capital Group Stock Down 0.5%

Shares of ACGL traded down $0.41 during mid-day trading on Thursday, reaching $88.66. The company's stock had a trading volume of 1,265,080 shares, compared to its average volume of 1,755,435. The business has a fifty day moving average of $91.75 and a 200 day moving average of $91.96. The company has a market cap of $33.22 billion, a price-to-earnings ratio of 9.07, a price-to-earnings-growth ratio of 6.13 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 quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share for the quarter, missing analysts' consensus estimates of $1.59 by ($0.05). The company had revenue of $4.52 billion during 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 revenue was up 10.5% compared to the same quarter last year. During the same period last year, the company posted $2.45 earnings per share. As a group, analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Insider Activity

In related news, insider John M. Pasquesi sold 75,060 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $94.01, for a total value of $7,056,390.60. Following the completion of the sale, the insider owned 579,218 shares in the company, valued at approximately $54,452,284.18. This trade represents a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Francois Morin sold 12,630 shares of the 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 disclosure for this sale can be found here. Insiders have sold 111,976 shares of company stock valued at $10,531,038 over the last three months. 4.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

ACGL has been the subject of several research analyst reports. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $101.00 price objective (down from $113.00) on shares of Arch Capital Group in a research note on Wednesday, July 9th. UBS Group boosted their price target on Arch Capital Group to $124.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Barclays dropped their price target on 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. JMP Securities reissued a "market outperform" rating and set a $125.00 price objective on shares of Arch Capital Group in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $110.00 price objective (up previously from $108.00) on shares of Arch Capital Group in a research note on Thursday, July 10th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. 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.