Arch Capital Group Ltd. $ACGL Shares Sold by Candriam S.C.A.

Key Points

• Candriam S.C.A. has reduced its stake in Arch Capital Group Ltd. by 24.6%, holding now 30,627 shares after selling 9,970 shares. This reduction leaves the value of its holdings at approximately $2.95 million.
• Other institutional investors such as JPMorgan Chase & Co. have increased their positions in Arch Capital, with JPMorgan adding 1.74 million shares for a total of 7.47 million shares valued at about $718.5 million.
• Arch Capital Group's stock is currently rated as a Moderate Buy by analysts, with an average price target of $111.27, reflecting a mix of ratings from research firms.

Candriam S.C.A. cut its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 24.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,627 shares of the insurance provider's stock after selling 9,970 shares during the quarter. Candriam S.C.A.'s holdings in Arch Capital Group were worth $2,946,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ACGL. Capital A Wealth Management LLC purchased a new position in shares of Arch Capital Group during the fourth quarter worth $25,000. Bartlett & CO. Wealth Management LLC purchased a new stake in Arch Capital Group in the first quarter valued at $27,000. Meeder Asset Management Inc. grew its position in Arch Capital Group by 116.3% during the 1st quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock worth $27,000 after purchasing an additional 150 shares during the period. Wayfinding Financial LLC purchased a new position in shares of Arch Capital Group during the 1st quarter valued at about $31,000. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Arch Capital Group during the 1st quarter valued at about $37,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Arch Capital Group

In related news, insider Maamoun Rajeh sold 10,000 shares of the company's stock in a transaction 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 transaction, the insider owned 433,589 shares of the company's stock, valued at $40,822,404.35. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.20% of the stock is currently owned by company insiders.

Arch Capital Group Stock Performance

Shares of ACGL stock traded down $0.87 during mid-day trading on Thursday, hitting $90.84. The stock had a trading volume of 229,567 shares, compared to its average volume of 1,917,834. The firm has a market cap of $33.90 billion, a PE ratio of 9.37, a PEG ratio of 5.57 and a beta of 0.49. The company's 50-day simple moving average is $89.51 and its 200-day simple moving average is $91.18. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56. Arch Capital Group Ltd. has a fifty-two week low of $82.49 and a fifty-two week high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced 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 net margin of 19.49% and a return on equity of 15.33%. The firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter last year, the firm earned $2.57 earnings per share. Sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Wall Street Analyst Weigh In

ACGL has been the subject of several recent research reports. Jefferies Financial Group lowered shares of Arch Capital Group from a "buy" rating to a "hold" rating and cut their target price for the company from $106.00 to $100.00 in a report on Tuesday, June 10th. UBS Group restated a "buy" rating and set a $118.00 price target (down from $124.00) on shares of Arch Capital Group in a research report on Monday, August 4th. Keefe, Bruyette & Woods raised their target price on Arch Capital Group from $102.00 to $103.00 and gave the stock a "market perform" rating in a research note on Thursday, August 14th. Cantor Fitzgerald raised shares of Arch Capital Group to a "hold" rating in a research report on Wednesday, August 13th. Finally, Morgan Stanley set a $110.00 target price on Arch Capital Group and gave the stock an "overweight" rating in a research note on Monday, May 19th. Nine investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $111.27.

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.