MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Lowers Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 34.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,250 shares of the insurance provider's stock after selling 21,537 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Arch Capital Group were worth $3,717,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Oregon Public Employees Retirement Fund grew its position in shares of Arch Capital Group by 0.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 32,147 shares of the insurance provider's stock worth $2,969,000 after acquiring an additional 110 shares during the last quarter. CreativeOne Wealth LLC grew its position in shares of Arch Capital Group by 4.9% during the fourth quarter. CreativeOne Wealth LLC now owns 2,682 shares of the insurance provider's stock worth $248,000 after acquiring an additional 126 shares during the last quarter. HBK Sorce Advisory LLC grew its position in shares of Arch Capital Group by 5.7% during the fourth quarter. HBK Sorce Advisory LLC now owns 2,373 shares of the insurance provider's stock worth $219,000 after acquiring an additional 127 shares during the last quarter. Flagship Harbor Advisors LLC grew 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 during the last quarter. Finally, Avidian Wealth Enterprises LLC lifted its holdings in shares of Arch Capital Group by 4.5% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 3,083 shares of the insurance provider's stock worth $285,000 after purchasing an additional 132 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Louis T. Petrillo sold 11,600 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $91.00, for a total value of $1,055,600.00. Following the completion of the transaction, the insider now owns 140,023 shares in the company, valued at $12,742,093. This trade represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John M. Pasquesi sold 75,060 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $94.01, for a total value of $7,056,390.60. Following the completion of the transaction, the insider now owns 579,218 shares of the company's stock, valued at approximately $54,452,284.18. This represents a 11.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,946 shares of company stock worth $10,392,092 over the last 90 days. 4.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ACGL has been the subject of several recent research reports. JMP Securities reaffirmed a "market outperform" rating and set a $125.00 price target on shares of Arch Capital Group in a report on Wednesday, April 30th. UBS Group decreased their price target on Arch Capital Group from $127.00 to $124.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. JPMorgan Chase & Co. increased their price target on Arch Capital Group from $106.00 to $107.00 and gave the stock a "neutral" rating in a report on Tuesday, April 8th. Morgan Stanley increased their price target on Arch Capital Group from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Jefferies Financial Group increased their price target on Arch Capital Group from $105.00 to $106.00 and gave the stock a "buy" rating in a 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. Based on data from MarketBeat.com, Arch Capital Group presently has an average rating of "Moderate Buy" and an average target price of $115.00.

Arch Capital Group Trading Up 0.6%

NASDAQ:ACGL opened at $95.16 on Tuesday. The stock has a fifty day moving average price of $92.59 and a two-hundred day moving average price of $93.45. The stock has a market capitalization of $35.66 billion, a price-to-earnings ratio of 8.50, a PEG ratio of 2.31 and a beta of 0.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.58 and a current ratio of 0.54. Arch Capital Group Ltd. has a 1 year low of $82.49 and a 1 year high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced 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 during the quarter, compared to analysts' expectations of $4.75 billion. During the same quarter in the prior year, the business earned $2.45 EPS. The company's quarterly revenue was up 10.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share 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.

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