California State Teachers Retirement System reduced its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 576,836 shares of the insurance provider's stock after selling 8,575 shares during the period. California State Teachers Retirement System owned approximately 0.15% of Arch Capital Group worth $53,271,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Arch Capital Group by 0.4% in the fourth 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 in the last quarter. Geode Capital Management LLC raised its stake 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 acquiring an additional 180,493 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Arch Capital Group by 10.5% in the fourth quarter. Principal Financial Group Inc. now owns 8,222,244 shares of the insurance provider's stock valued at $759,324,000 after acquiring an additional 783,506 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Arch Capital Group by 4.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,350,868 shares of the insurance provider's stock valued at $488,992,000 after acquiring an additional 226,617 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake 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 acquiring an additional 93,226 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.
Arch Capital Group Stock Performance
Shares of ACGL traded up $0.86 during midday trading on Friday, reaching $95.06. 2,897,694 shares of the stock were exchanged, compared to its average volume of 1,725,859. The business's 50-day moving average price is $92.62 and its 200 day moving average price is $93.20. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.54 and a quick ratio of 0.58. Arch Capital Group Ltd. has a twelve month low of $82.49 and a twelve month high of $116.47. The company has a market capitalization of $35.62 billion, a price-to-earnings ratio of 8.49, a PEG ratio of 2.31 and a beta of 0.57.
Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released 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). Arch Capital Group had a return on equity of 17.96% and a net margin of 24.73%. The company had revenue of $4.52 billion for the quarter, compared to analysts' expectations of $4.75 billion. During the same period in the prior year, the business earned $2.45 EPS. The business's quarterly revenue was up 10.5% compared to the same quarter last year. On average, sell-side analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CEO Nicolas Papadopoulo sold 7,636 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $92.48, for a total transaction of $706,177.28. Following the transaction, the chief executive officer now owns 795,718 shares of the company's stock, valued at $73,588,000.64. This trade represents a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Francois Morin sold 12,630 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $94.58, for a total value of $1,194,545.40. Following the transaction, the chief financial officer now directly owns 274,681 shares in the company, valued at approximately $25,979,328.98. This represents a 4.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 123,576 shares of company stock valued at $11,586,638 over the last quarter. 4.20% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of research firms have weighed in on ACGL. JPMorgan Chase & Co. raised their price target on Arch Capital Group from $106.00 to $107.00 and gave the company a "neutral" rating in a research note on Tuesday, April 8th. Jefferies Financial Group raised their price target on Arch Capital Group from $105.00 to $106.00 and gave the company a "buy" rating in a research note on Friday, April 11th. UBS Group cut their price target on Arch Capital Group from $127.00 to $124.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley set a $110.00 price target on Arch Capital Group and gave the company an "overweight" rating in a research note on Monday, May 19th. Finally, Wells Fargo & Company raised their price target on Arch Capital Group from $106.00 to $108.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $115.00.
Read Our Latest Research Report on ACGL
Arch Capital Group Company Profile
(
Free Report)
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.
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