New York State Teachers Retirement System Reduces Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

New York State Teachers Retirement System decreased its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 364,904 shares of the insurance provider's stock after selling 24,233 shares during the quarter. New York State Teachers Retirement System owned approximately 0.10% of Arch Capital Group worth $35,096,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Arch Capital Group during the fourth quarter worth approximately $437,291,000. Madison Investment Advisors LLC purchased a new position in Arch Capital Group in the fourth quarter worth approximately $410,010,000. First Trust Advisors LP grew its holdings in Arch Capital Group by 663.3% during the 4th quarter. First Trust Advisors LP now owns 2,462,382 shares of the insurance provider's stock worth $227,401,000 after acquiring an additional 2,139,782 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Arch Capital Group in the 4th quarter valued at approximately $151,342,000. Finally, Egerton Capital UK LLP increased its position in shares of Arch Capital Group by 25.8% in the 4th quarter. Egerton Capital UK LLP now owns 3,987,972 shares of the insurance provider's stock valued at $368,289,000 after purchasing an additional 816,750 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Arch Capital Group Stock Performance

NASDAQ:ACGL traded down $3.12 during mid-day trading on Wednesday, reaching $88.38. The stock had a trading volume of 3,304,036 shares, compared to its average volume of 1,708,918. Arch Capital Group Ltd. has a twelve month low of $82.49 and a twelve month high of $116.47. The business has a 50 day simple moving average of $92.38 and a 200 day simple moving average of $92.14. The firm has a market capitalization of $33.12 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 6.29 and a beta of 0.51. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $4.75 billion. During the same period in the prior year, the business earned $2.45 earnings per share. The firm's quarterly revenue was up 10.5% compared to the same quarter last year. On average, analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Insider Activity at Arch Capital Group

In related news, insider Louis T. Petrillo sold 16,650 shares of the business's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $94.53, for a total value of $1,573,924.50. Following the sale, the insider directly owned 140,023 shares in the company, valued at $13,236,374.19. The trade was a 10.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Francois Morin sold 12,630 shares of Arch Capital Group stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $94.58, for a total transaction of $1,194,545.40. Following the transaction, the chief financial officer owned 274,681 shares of the company's stock, valued at approximately $25,979,328.98. The trade was a 4.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,976 shares of company stock worth $10,531,038. 4.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ACGL. JPMorgan Chase & Co. raised their price target on Arch Capital Group from $106.00 to $107.00 and gave the company a "neutral" rating in a research note on Tuesday, April 8th. JMP Securities reissued a "market outperform" rating and set a $125.00 target price on shares of Arch Capital Group in a research report on Wednesday, April 30th. Jefferies Financial Group downgraded Arch Capital Group from a "buy" rating to a "hold" rating and lowered their price target for the company from $106.00 to $100.00 in a report on Tuesday, June 10th. UBS Group raised their price objective on shares of Arch Capital Group to $124.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Finally, Barclays reduced their price objective on shares of Arch Capital Group from $100.00 to $93.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Arch Capital Group currently has a consensus rating of "Moderate Buy" and an average price target of $114.27.

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.