Mackenzie Financial Corp Sells 18,264 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Mackenzie Financial Corp trimmed its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 20.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,744 shares of the insurance provider's stock after selling 18,264 shares during the period. Mackenzie Financial Corp's holdings in Arch Capital Group were worth $6,626,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Exchange Traded Concepts LLC lifted its position in shares of Arch Capital Group by 6.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 8,649 shares of the insurance provider's stock worth $799,000 after acquiring an additional 499 shares in the last quarter. Flagship Harbor Advisors LLC lifted its position in shares of Arch Capital Group by 5.9% during the fourth quarter. Flagship Harbor Advisors LLC now owns 2,315 shares of the insurance provider's stock worth $214,000 after acquiring an additional 129 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Arch Capital Group by 74.6% during the fourth quarter. Blue Trust Inc. now owns 4,215 shares of the insurance provider's stock worth $389,000 after acquiring an additional 1,801 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Arch Capital Group by 33.7% during the fourth quarter. Pacer Advisors Inc. now owns 45,667 shares of the insurance provider's stock worth $4,217,000 after acquiring an additional 11,501 shares in the last quarter. Finally, Stonegate Investment Group LLC lifted its position in shares of Arch Capital Group by 20.1% during the fourth quarter. Stonegate Investment Group LLC now owns 2,447 shares of the insurance provider's stock worth $226,000 after acquiring an additional 410 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Insider Buying and Selling at Arch Capital Group

In other news, insider Louis T. Petrillo sold 16,650 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.53, for a total transaction of $1,573,924.50. Following the transaction, the insider now directly owns 140,023 shares of the company's stock, valued at approximately $13,236,374.19. This trade represents a 10.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the chief executive officer now directly owns 795,718 shares in the company, valued at $73,588,000.64. This trade represents a 0.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 123,576 shares of company stock worth $11,586,638 over the last 90 days. Corporate insiders own 4.20% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on ACGL. Jefferies Financial Group increased their target price on Arch Capital Group from $105.00 to $106.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Wells Fargo & Company increased their target price on Arch Capital Group from $106.00 to $108.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Royal Bank of Canada dropped their target price on Arch Capital Group from $125.00 to $110.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 12th. JPMorgan Chase & Co. increased their price objective on Arch Capital Group from $106.00 to $107.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. Finally, Barclays lowered their price objective 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. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Arch Capital Group has a consensus rating of "Moderate Buy" and an average target price of $115.00.

Arch Capital Group Price Performance

NASDAQ ACGL traded up $1.23 during trading hours on Monday, reaching $96.27. 1,423,356 shares of the stock traded hands, compared to its average volume of 1,690,837. The stock has a 50 day simple moving average of $92.64 and a two-hundred day simple moving average of $93.01. Arch Capital Group Ltd. has a 1 year low of $82.49 and a 1 year high of $116.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.54 and a quick ratio of 0.58. The company has a market cap of $36.08 billion, a price-to-earnings ratio of 8.60, a price-to-earnings-growth ratio of 2.31 and a beta of 0.57.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share for the quarter, missing analysts' consensus estimates of $1.59 by ($0.05). Arch Capital Group had a net margin of 24.73% and a return on equity of 17.96%. The firm had revenue of $4.52 billion for the quarter, compared to analysts' expectations of $4.75 billion. During the same quarter in the previous year, the business earned $2.45 EPS. The company's revenue for the quarter was up 10.5% on a year-over-year basis. On average, analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

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.