Johnson Investment Counsel Inc. Trims Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Johnson Investment Counsel Inc. reduced its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 39.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,295 shares of the insurance provider's stock after selling 3,463 shares during the period. Johnson Investment Counsel Inc.'s holdings in Arch Capital Group were worth $509,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital A Wealth Management LLC purchased a new stake in Arch Capital Group during the fourth quarter valued at approximately $25,000. Cullen Frost Bankers Inc. purchased a new stake in Arch Capital Group during the fourth quarter valued at approximately $37,000. Grove Bank & Trust purchased a new stake in shares of Arch Capital Group in the first quarter worth $40,000. Quarry LP purchased a new stake in shares of Arch Capital Group in the fourth quarter worth $58,000. Finally, McIlrath & Eck LLC increased its stake in shares of Arch Capital Group by 165.3% in the fourth quarter. McIlrath & Eck LLC now owns 666 shares of the insurance provider's stock worth $62,000 after purchasing an additional 415 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ACGL has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Arch Capital Group from $106.00 to $107.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods increased their price objective on shares of Arch Capital Group from $104.00 to $113.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. UBS Group increased their price objective on shares of Arch Capital Group to $124.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. Jefferies Financial Group cut shares of Arch Capital Group from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $106.00 to $100.00 in a research note on Tuesday, June 10th. Finally, Wells Fargo & Company upped their target price on shares of Arch Capital Group from $106.00 to $108.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $114.63.

Arch Capital Group Price Performance

ACGL stock traded down $0.13 during trading on Friday, hitting $90.17. 2,426,380 shares of the company's stock traded hands, compared to its average volume of 1,695,357. Arch Capital Group Ltd. has a 52 week low of $82.49 and a 52 week high of $116.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. The business has a fifty day simple moving average of $92.61 and a 200 day simple moving average of $92.32. The stock has a market capitalization of $33.79 billion, a price-to-earnings ratio of 9.24, a P/E/G ratio of 6.23 and a beta of 0.53.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The insurance provider reported $1.54 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.05). Arch Capital Group had a net margin of 20.72% and a return on equity of 15.79%. The business had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.75 billion. During the same quarter last year, the business earned $2.45 EPS. Arch Capital Group's revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, research analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Insider Buying and Selling at Arch Capital Group

In other news, CEO Nicolas Papadopoulo sold 7,636 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $92.48, for a total value of $706,177.28. Following the completion of the sale, the chief executive officer now owns 795,718 shares in the company, valued at approximately $73,588,000.64. This trade represents a 0.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $7,056,390.60. Following the completion of the sale, the insider now owns 579,218 shares of the company's stock, valued at $54,452,284.18. This trade represents a 11.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,976 shares of company stock worth $10,531,038 over the last 90 days. 4.10% of the stock is owned by 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.