Intech Investment Management LLC Sells 233,579 Shares of Arch Capital Group Ltd. $ACGL

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 lowered its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 44.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Harbour Investments Inc. lifted its stake in Arch Capital Group by 8.4% during the first quarter. Harbour Investments Inc. now owns 1,431 shares of the insurance provider's stock valued at $138,000 after buying an additional 111 shares in the last quarter. Resonant Capital Advisors LLC increased its holdings in Arch Capital Group by 1.7% in the first quarter. Resonant Capital Advisors LLC now owns 6,672 shares of the insurance provider's stock worth $642,000 after buying an additional 113 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in Arch Capital Group by 0.9% in the first quarter. Venturi Wealth Management LLC now owns 13,228 shares of the insurance provider's stock worth $1,272,000 after buying an additional 115 shares during the last quarter. Hemington Wealth Management grew its holdings in Arch Capital Group by 27.7% during the first quarter. Hemington Wealth Management now owns 548 shares of the insurance provider's stock valued at $52,000 after purchasing an additional 119 shares during the last quarter. Finally, Horizon Advisory Services Inc. grew its holdings in Arch Capital Group by 4.2% during the first quarter. Horizon Advisory Services Inc. now owns 2,996 shares of the insurance provider's stock valued at $288,000 after purchasing an additional 120 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Insider Buying and Selling at Arch Capital Group

In other news, insider Maamoun Rajeh sold 10,000 shares of Arch Capital Group stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total value of $941,500.00. Following the completion of the transaction, the insider directly owned 433,589 shares in the company, valued at approximately $40,822,404.35. The trade was a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.20% of the company's stock.

Arch Capital Group Trading Down 0.0%

NASDAQ ACGL traded down $0.03 during trading hours on Friday, hitting $92.26. 1,256,486 shares of the company's stock were exchanged, compared to its average volume of 1,757,837. The stock has a 50-day simple moving average of $89.83 and a 200 day simple moving average of $91.38. Arch Capital Group Ltd. has a 1-year low of $82.49 and a 1-year high of $116.47. The firm has a market cap of $34.43 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 5.65 and a beta of 0.51. 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 (NASDAQ:ACGL - Get Free Report) last posted 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 company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.29 billion. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%.During the same quarter last year, the company earned $2.57 earnings per share. On average, equities analysts forecast that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ACGL shares. Cantor Fitzgerald raised Arch Capital Group to a "hold" rating in a research report on Wednesday, August 13th. Citigroup assumed coverage on Arch Capital Group in a research report on Wednesday, August 13th. They issued a "buy" rating and a $113.00 price objective for the company. UBS Group reiterated a "buy" rating and set a $118.00 price objective (down previously from $124.00) on shares of Arch Capital Group in a report on Monday, August 4th. Jefferies Financial Group cut 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 research note on Tuesday, June 10th. Finally, Morgan Stanley set a $110.00 target price on Arch Capital Group and gave the stock an "overweight" rating in a report on Monday, May 19th. Nine investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $111.27.

Arch Capital Group Company 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.