Lansforsakringar Fondforvaltning AB publ Sells 106,013 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• Lansforsakringar Fondforvaltning AB has reduced its position in Arch Capital Group Ltd. by 21.6%, now holding approximately 384,122 shares valued at $36.9 million after selling 106,013 shares in the first quarter.
• Multiple large investors, including Mirae Asset Global Investments and Crossmark Global Holdings, adjusted their positions in Arch Capital Group, indicating ongoing interest from institutional investors.
• Arch Capital Group reported earnings of $2.58 EPS for the last quarter, exceeding analysts' expectations, with a projected EPS of 8.42 for the current year.

Lansforsakringar Fondforvaltning AB publ lessened its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 21.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 384,122 shares of the insurance provider's stock after selling 106,013 shares during the quarter. Lansforsakringar Fondforvaltning AB publ owned 0.10% of Arch Capital Group worth $36,945,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in shares of Arch Capital Group by 30.5% during the first quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider's stock valued at $718,522,000 after buying an additional 1,743,945 shares during the last quarter. Northern Trust Corp lifted its position in Arch Capital Group by 3.0% in the 1st quarter. Northern Trust Corp now owns 5,005,790 shares of the insurance provider's stock valued at $481,457,000 after acquiring an additional 144,986 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Arch Capital Group by 1.9% in the 4th quarter. Nuveen Asset Management LLC now owns 4,888,997 shares of the insurance provider's stock valued at $451,499,000 after acquiring an additional 93,226 shares in the last quarter. Madison Asset Management LLC boosted its stake in Arch Capital Group by 9.0% during the 1st quarter. Madison Asset Management LLC now owns 4,837,602 shares of the insurance provider's stock valued at $465,281,000 after purchasing an additional 397,857 shares during the last quarter. Finally, Egerton Capital UK LLP increased its holdings in Arch Capital Group by 8.5% during the 1st quarter. Egerton Capital UK LLP now owns 4,325,217 shares of the insurance provider's stock worth $415,999,000 after purchasing an additional 337,245 shares in the last quarter. Institutional investors own 89.07% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ACGL. Keefe, Bruyette & Woods lifted their target price on 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. UBS Group restated a "buy" rating and set a $118.00 price objective (down from $124.00) on shares of Arch Capital Group in a research note on Monday, August 4th. Jefferies Financial Group downgraded shares of Arch Capital Group from a "buy" rating to a "hold" rating and cut their price objective for the stock from $106.00 to $100.00 in a report on Tuesday, June 10th. Morgan Stanley set a $110.00 price objective on shares of Arch Capital Group and gave the stock an "overweight" rating in a report on Monday, May 19th. Finally, Wells Fargo & Company cut their price objective on shares of Arch Capital Group from $110.00 to $107.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Nine equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $111.27.

Insider Activity

In related news, insider Maamoun Rajeh sold 10,000 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $94.15, for a total value of $941,500.00. Following the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.20% of the stock is currently owned by insiders.

Arch Capital Group Stock Performance

Shares of NASDAQ:ACGL traded up $0.33 during midday trading on Friday, reaching $91.53. The company had a trading volume of 1,562,940 shares, compared to its average volume of 1,959,278. The stock has a market cap of $34.16 billion, a P/E ratio of 9.45, a P/E/G ratio of 5.61 and a beta of 0.49. The company's 50 day moving average price is $89.56 and its 200 day moving average price is $91.21. 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 52-week low of $82.49 and a 52-week high of $116.47.

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. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. The firm had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.29 billion. During the same period in the previous year, the company earned $2.57 earnings per share. As a group, sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

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.