Commerce Bank Trims Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Key Points

• Commerce Bank reduced its stake in Arch Capital Group by 7.3%, owning 365,924 shares worth approximately $35.20 million after selling 28,853 shares.
• Insider John M. Pasquesi sold 75,060 shares valued at over $7 million, indicating a 11.47% decrease in his position in the company.
• Analysts have mixed views on Arch Capital Group, with price targets ranging from $93.00 to $124.00 and an average rating of "Moderate Buy" based on the latest evaluations.

Commerce Bank lessened its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 7.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 365,924 shares of the insurance provider's stock after selling 28,853 shares during the period. Commerce Bank owned approximately 0.10% of Arch Capital Group worth $35,195,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Capital A Wealth Management LLC acquired a new position in Arch Capital Group in the 4th quarter worth $25,000. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Arch Capital Group in the 1st quarter valued at approximately $27,000. Meeder Asset Management Inc. grew its position in shares of Arch Capital Group by 116.3% during the first quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock worth $27,000 after buying an additional 150 shares in the last quarter. Wayfinding Financial LLC bought a new stake in shares of Arch Capital Group in the 1st quarter valued at approximately $31,000. Finally, Grove Bank & Trust bought a new position in shares of Arch Capital Group in the first quarter valued at $40,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider John M. Pasquesi sold 75,060 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $94.01, for a total value of $7,056,390.60. Following the sale, the insider directly owned 579,218 shares of the company's stock, valued at $54,452,284.18. This trade represents a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Francois Morin sold 12,630 shares of Arch Capital Group 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 completion of the transaction, the chief financial officer directly owned 274,681 shares of the company's stock, 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 sold a total of 104,340 shares of company stock worth $9,824,861 over the last ninety days. 4.10% of the stock is owned by corporate insiders.

Arch Capital Group Trading Up 1.1%

Shares of NASDAQ:ACGL traded up $1.01 during midday trading on Wednesday, hitting $89.67. 981,630 shares of the stock were exchanged, compared to its average volume of 1,920,943. The business's 50-day moving average price is $90.14 and its 200 day moving average price is $91.50. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. Arch Capital Group Ltd. has a 12 month low of $82.49 and a 12 month high of $116.47. The stock has a market capitalization of $33.60 billion, a price-to-earnings ratio of 9.25, a P/E/G ratio of 6.63 and a beta of 0.49.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates of $2.30 by $0.28. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.29 billion. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. During the same quarter in the prior year, the firm posted $2.57 EPS. Analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ACGL shares. JPMorgan Chase & Co. lifted their price target on shares of Arch Capital Group from $106.00 to $107.00 and gave the company a "neutral" rating in a research report on Tuesday, April 8th. Morgan Stanley set a $110.00 price target on Arch Capital Group and gave the stock an "overweight" rating in a report on Monday, May 19th. UBS Group restated a "buy" rating and issued a $118.00 price target (down from $124.00) on shares of Arch Capital Group in a research report on Monday. Jefferies Financial Group lowered Arch Capital Group from a "buy" rating to a "hold" rating and lowered their price target for the company from $106.00 to $100.00 in a research note on Tuesday, June 10th. Finally, Cowen reissued a "buy" rating on shares of Arch Capital Group in a report on Monday. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $113.07.

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.