BNP Paribas Financial Markets Sells 183,357 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• BNP Paribas Financial Markets reduced its stake in Arch Capital Group by 22.9%, selling 183,357 shares during the first quarter, now holding 615,593 shares valued at approximately $59.2 million.
• In the first quarter, several other investors also adjusted their positions in Arch Capital Group, with Hemington Wealth Management increasing its stake by 27.7%.
• Arch Capital Group recently reported $2.58 EPS for the quarter, exceeding estimates, and analysts holding a consensus rating of "Moderate Buy" with an average price target of $111.27.

BNP Paribas Financial Markets cut its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 22.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 615,593 shares of the insurance provider's stock after selling 183,357 shares during the quarter. BNP Paribas Financial Markets owned 0.16% of Arch Capital Group worth $59,208,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ACGL. Capital A Wealth Management LLC acquired a new position in shares of Arch Capital Group during the fourth quarter valued at $25,000. Meeder Asset Management Inc. increased its position in shares of Arch Capital Group by 116.3% in the first quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock worth $27,000 after acquiring an additional 150 shares in the last quarter. Bartlett & CO. Wealth Management LLC purchased a new position in Arch Capital Group during the 1st quarter valued at about $27,000. Wayfinding Financial LLC purchased a new position in Arch Capital Group during the 1st quarter valued at about $31,000. Finally, Zions Bancorporation National Association UT bought a new position in Arch Capital Group during the first quarter valued at approximately $37,000. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Arch Capital Group Trading Down 0.3%

NASDAQ ACGL traded down $0.29 on Thursday, reaching $92.61. The company had a trading volume of 584,317 shares, compared to its average volume of 1,917,525. The stock's 50 day moving average is $89.64 and its 200-day moving average is $91.25. The stock has a market cap of $34.57 billion, a price-to-earnings ratio of 9.55, a PEG ratio of 5.60 and a beta of 0.51. 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 Ltd. has a 52 week low of $82.49 and a 52 week high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released 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 business 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 company posted $2.57 earnings per share. Equities analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Insider Activity

In related news, insider Maamoun Rajeh sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 433,589 shares of the company's stock, valued at approximately $40,822,404.35. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.