Arch Capital Group Ltd. (NASDAQ:ACGL) Shares Sold by Raiffeisen Bank International AG

Key Points

• Raiffeisen Bank International AG has reduced its stake in Arch Capital Group Ltd. by 15.1%, selling 2,914 shares and now holding 16,409 shares worth approximately $1.56 million.
• Insider sales at Arch Capital included significant transactions by John M. Pasquesi and Louis T. Petrillo, leading to an overall insider sale of 104,340 shares valued at nearly $10 million over the past three months.
• Analysts have set new price targets for Arch Capital, with UBS Group reducing its target from $124 to $118 while maintaining a "buy" rating, amidst mixed evaluations from other investment firms.

Raiffeisen Bank International AG decreased its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 15.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,409 shares of the insurance provider's stock after selling 2,914 shares during the period. Raiffeisen Bank International AG's holdings in Arch Capital Group were worth $1,560,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake in shares of Arch Capital Group by 0.8% in the first quarter. PNC Financial Services Group Inc. now owns 69,424 shares of the insurance provider's stock worth $6,677,000 after acquiring an additional 576 shares during the last quarter. TIAA Trust National Association boosted its stake in shares of Arch Capital Group by 16.6% in the 1st quarter. TIAA Trust National Association now owns 3,776 shares of the insurance provider's stock worth $363,000 after buying an additional 538 shares during the last quarter. Jefferies Financial Group Inc. lifted its stake in shares of Arch Capital Group by 723.6% in the 1st quarter. Jefferies Financial Group Inc. now owns 67,232 shares of the insurance provider's stock worth $6,466,000 after purchasing an additional 59,069 shares during the period. Nicolet Advisory Services LLC boosted its stake in shares of Arch Capital Group by 13.5% during the 1st quarter. Nicolet Advisory Services LLC now owns 2,946 shares of the insurance provider's stock worth $267,000 after acquiring an additional 350 shares during the last quarter. Finally, Harbour Investments Inc. increased its position in Arch Capital Group by 8.4% in the first quarter. Harbour Investments Inc. now owns 1,431 shares of the insurance provider's stock worth $138,000 after buying an additional 111 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Arch Capital Group news, CFO Francois Morin sold 12,630 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $94.58, for a total transaction of $1,194,545.40. Following the completion of the transaction, the chief financial officer directly owned 274,681 shares of the company's stock, valued at approximately $25,979,328.98. This trade represents a 4.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Louis T. Petrillo sold 16,650 shares of the company's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $94.53, for a total transaction of $1,573,924.50. Following the completion of the sale, the insider directly owned 140,023 shares in the company, valued at approximately $13,236,374.19. The trade was a 10.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,340 shares of company stock worth $9,824,861 in the last 90 days. Insiders own 4.20% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on ACGL. JMP Securities reiterated a "market outperform" rating and issued a $125.00 price target on shares of Arch Capital Group in a research report on Wednesday, April 30th. Cowen reiterated a "buy" rating on shares of Arch Capital Group in a research note on Monday. Morgan Stanley set a $110.00 price objective on Arch Capital Group and gave the company an "overweight" rating in a research report on Monday, May 19th. Jefferies Financial Group lowered Arch Capital Group from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $106.00 to $100.00 in a research note on Tuesday, June 10th. Finally, Keefe, Bruyette & Woods lifted their target price on Arch Capital Group from $101.00 to $102.00 and gave the company a "market perform" rating in a research note on Tuesday. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $113.07.

Arch Capital Group Stock Down 1.0%

Arch Capital Group stock traded down $0.90 during trading hours on Thursday, reaching $88.86. The stock had a trading volume of 2,162,320 shares, compared to its average volume of 2,815,912. The business's 50 day moving average price is $89.97 and its 200-day moving average price is $91.44. The company has a market cap of $33.30 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 6.70 and a beta of 0.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56. 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 announced its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $4.29 billion. During the same period last year, the firm posted $2.57 EPS. Sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current 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.