Arch Capital Group Ltd. $ACGL Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC reduced its holdings in Arch Capital Group Ltd. by 44.1%, selling 233,579 shares and retaining 295,931 shares worth approximately $28.5 million.
• Several large institutional investors adjusted their stakes in Arch Capital Group, with Mirae Asset Global Investments increasing its stake by 14.1% during the same quarter.
• Analysts have mixed ratings on Arch Capital Group, with nine maintaining a "Buy" rating and a consensus price target of $111.27, reflecting optimism about its financial performance and growth potential.

Intech Investment Management LLC reduced its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 44.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 295,931 shares of the insurance provider's stock after selling 233,579 shares during the period. Intech Investment Management LLC owned 0.08% of Arch Capital Group worth $28,463,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ACGL. Capital A Wealth Management LLC acquired a new stake in shares of Arch Capital Group during the 4th quarter worth about $25,000. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of Arch Capital Group in the first quarter worth approximately $27,000. Meeder Asset Management Inc. boosted its position in shares of Arch Capital Group by 116.3% in the first quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock worth $27,000 after acquiring an additional 150 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Arch Capital Group in the first quarter worth approximately $31,000. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Arch Capital Group in the first quarter worth approximately $37,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ACGL. UBS Group reissued a "buy" rating and issued a $118.00 target price (down from $124.00) on shares of Arch Capital Group in a research report on Monday, August 4th. Cantor Fitzgerald raised shares of Arch Capital Group to a "hold" rating in a research report on Wednesday, August 13th. Jefferies Financial Group cut shares of Arch Capital Group from a "buy" rating to a "hold" rating and decreased their target price for the stock from $106.00 to $100.00 in a research report on Tuesday, June 10th. Keefe, Bruyette & Woods lifted their price target on shares of Arch Capital Group from $102.00 to $103.00 and gave the company a "market perform" rating in a research report on Thursday, August 14th. Finally, Morgan Stanley set a $110.00 price target on shares of Arch Capital Group and gave the company an "overweight" rating in a research report on Monday, May 19th. Nine equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $111.27.

Arch Capital Group Stock Performance

Arch Capital Group stock traded down $1.14 during mid-day trading on Monday, reaching $91.12. The company's stock had a trading volume of 575,719 shares, compared to its average volume of 1,914,509. The firm has a market cap of $34.01 billion, a price-to-earnings ratio of 9.41, a PEG ratio of 5.65 and a beta of 0.51. The business has a 50 day moving average price of $89.83 and a 200-day moving average price of $91.38. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16. Arch Capital Group Ltd. has a twelve month low of $82.49 and a twelve month 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. The firm 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 previous year, the company posted $2.57 earnings per share. Sell-side analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Arch Capital Group news, insider Maamoun Rajeh sold 10,000 shares of Arch Capital Group stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $94.15, for a total value of $941,500.00. Following the completion of the transaction, the insider owned 433,589 shares of the company's stock, valued at $40,822,404.35. The trade was a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.10% of the stock is currently owned by corporate insiders.

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.