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

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Orion Portfolio Solutions LLC lifted its holdings in Arch Capital Group by 14.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 14,282 shares of the insurance provider's stock worth $1,319,000 after buying an additional 1,772 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in Arch Capital Group by 35.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 8,614 shares of the insurance provider's stock worth $798,000 after buying an additional 2,267 shares during the period. Franklin Resources Inc. lifted its holdings in Arch Capital Group by 1.4% during the fourth quarter. Franklin Resources Inc. now owns 616,723 shares of the insurance provider's stock worth $56,954,000 after buying an additional 8,256 shares during the period. HighPoint Advisor Group LLC lifted its holdings in Arch Capital Group by 24.2% during the fourth quarter. HighPoint Advisor Group LLC now owns 3,056 shares of the insurance provider's stock worth $274,000 after buying an additional 596 shares during the period. Finally, Groupama Asset Managment purchased a new stake in shares of Arch Capital Group during the 4th quarter valued at $540,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the company. JMP Securities reiterated a "market outperform" rating and set a $125.00 price objective on shares of Arch Capital Group in a report on Wednesday, April 30th. Jefferies Financial Group downgraded Arch Capital Group from a "buy" rating to a "hold" rating and cut their price target for the stock from $106.00 to $100.00 in a research report on Tuesday, June 10th. Morgan Stanley set a $110.00 price target on Arch Capital Group and gave the stock an "overweight" rating in a research report on Monday, May 19th. UBS Group increased their price target on Arch Capital Group to $124.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Finally, Barclays dropped their target price on Arch Capital Group from $100.00 to $93.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $113.40.

Arch Capital Group Stock Performance

NASDAQ ACGL traded up $1.94 during midday trading on Friday, hitting $88.00. The company had a trading volume of 2,846,752 shares, compared to its average volume of 2,924,728. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16. The stock has a market cap of $32.98 billion, a price-to-earnings ratio of 9.08, a P/E/G ratio of 6.68 and a beta of 0.49. The firm has a fifty day simple moving average of $90.33 and a two-hundred day simple moving average of $91.57. 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 released its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, topping 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 company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period last year, the firm earned $2.57 EPS. Equities analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, insider John M. Pasquesi sold 75,060 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $94.01, for a total value of $7,056,390.60. Following the completion of the transaction, the insider directly owned 579,218 shares of the company's stock, valued at approximately $54,452,284.18. The trade was a 11.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Francois Morin sold 12,630 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $94.58, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,340 shares of company stock valued at $9,824,861 in the last ninety days. Insiders own 4.10% of the company's stock.

About Arch Capital Group

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.