California Public Employees Retirement System Sells 286,839 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• CalPERS trimmed its Arch Capital stake by 25.6% in the first quarter, selling 286,839 shares and leaving it with 834,282 shares valued at about $80.1 million.
• Institutional ownership remains high at 89.07% of the company, and several other hedge funds also recently adjusted their positions in ACGL.
• Analyst sentiment is mixed but slightly cautious: Arch Capital has a consensus rating of “Hold” with an average price target of $109.39, even as Wells Fargo raised its target to $114 and rated the stock overweight.

California Public Employees Retirement System reduced its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 25.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 834,282 shares of the insurance provider's stock after selling 286,839 shares during the period. California Public Employees Retirement System owned about 0.23% of Arch Capital Group worth $80,083,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ACGL. Geneos Wealth Management Inc. grew its holdings in Arch Capital Group by 157.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider's stock worth $65,000 after acquiring an additional 412 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Arch Capital Group during the 2nd quarter worth $253,000. CW Advisors LLC raised its position in Arch Capital Group by 6.5% during the 2nd quarter. CW Advisors LLC now owns 3,098 shares of the insurance provider's stock worth $282,000 after purchasing an additional 189 shares during the last quarter. Jump Financial LLC acquired a new position in Arch Capital Group during the 2nd quarter worth about $667,000. Finally, Cerity Partners LLC lifted its holdings in Arch Capital Group by 11.6% during the 2nd quarter. Cerity Partners LLC now owns 47,486 shares of the insurance provider's stock worth $4,324,000 after buying an additional 4,933 shares during the period. Institutional investors own 89.07% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on ACGL shares. Wells Fargo & Company upped their target price on Arch Capital Group from $110.00 to $114.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Weiss Ratings cut shares of Arch Capital Group from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, May 18th. JPMorgan Chase & Co. decreased their price target on Arch Capital Group from $117.00 to $110.00 and set a "neutral" rating for the company in a report on Monday, April 20th. Keefe, Bruyette & Woods lowered their price objective on Arch Capital Group from $102.00 to $99.00 and set a "market perform" rating for the company in a research report on Wednesday, July 8th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $102.00 target price (up from $100.00) on shares of Arch Capital Group in a research note on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Arch Capital Group currently has an average rating of "Hold" and a consensus target price of $109.39.

Insider Buying and Selling

In related news, Director Daniel Joseph Houston bought 5,300 shares of the business's stock in a transaction that occurred on Thursday, April 30th. The shares were bought at an average price of $94.08 per share, with a total value of $498,624.00. Following the completion of the transaction, the director directly owned 9,915 shares in the company, valued at approximately $932,803.20. This represents a 114.84% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian S. Posner sold 3,000 shares of the company's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total value of $58,980.00. The disclosure for this sale is available in the SEC filing. Insiders own 3.30% of the company's stock.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL opened at $101.35 on Monday. Arch Capital Group Ltd. has a twelve month low of $82.44 and a twelve month high of $105.09. The stock's 50 day moving average is $95.09 and its 200-day moving average is $95.63. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $35.41 billion, a price-to-earnings ratio of 7.78, a PEG ratio of 5.04 and a beta of 0.31.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share for the quarter. The firm had revenue of $4.52 billion for the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. Sell-side analysts forecast that Arch Capital Group Ltd. will post 9.35 EPS for the current fiscal year.

Arch Capital Group Profile

Arch Capital Group Ltd. NASDAQ: ACGL is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch's product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.

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