Arch Capital Group Ltd. (NASDAQ:ACGL) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 1.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 350,871 shares of the insurance provider's stock after selling 3,660 shares during the quarter. Retirement Systems of Alabama owned approximately 0.09% of Arch Capital Group worth $33,747,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ACGL. New York State Common Retirement Fund lifted its holdings in shares of Arch Capital Group by 83.3% in the 4th quarter. New York State Common Retirement Fund now owns 420,252 shares of the insurance provider's stock worth $38,810,000 after buying an additional 191,002 shares during the period. Hussman Strategic Advisors Inc. bought a new position in Arch Capital Group during the 4th quarter worth about $970,000. Cassaday & Co Wealth Management LLC raised its holdings in shares of Arch Capital Group by 7.0% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 3,821 shares of the insurance provider's stock valued at $353,000 after purchasing an additional 251 shares in the last quarter. Navellier & Associates Inc. lifted its position in shares of Arch Capital Group by 2.9% in the 4th quarter. Navellier & Associates Inc. now owns 31,634 shares of the insurance provider's stock worth $2,921,000 after purchasing an additional 889 shares during the period. Finally, Oxbow Advisors LLC bought a new position in shares of Arch Capital Group during the fourth quarter valued at approximately $3,880,000. 89.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Arch Capital Group news, CEO Nicolas Papadopoulo sold 7,636 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $92.48, for a total value of $706,177.28. Following the sale, the chief executive officer now owns 795,718 shares of the company's stock, valued at $73,588,000.64. The trade was a 0.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Francois Morin sold 12,630 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $94.58, for a total value of $1,194,545.40. Following the completion of the sale, the chief financial officer now owns 274,681 shares in the company, valued at $25,979,328.98. This represents a 4.40% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,976 shares of company stock worth $10,531,038. Company insiders own 4.20% of the company's stock.

Wall Street Analyst Weigh In

ACGL has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on Arch Capital Group from $106.00 to $108.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. JMP Securities restated a "market outperform" rating and issued a $125.00 price target on shares of Arch Capital Group in a report on Wednesday, April 30th. JPMorgan Chase & Co. raised 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. Barclays dropped their price objective on shares of Arch Capital Group from $100.00 to $93.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. Finally, UBS Group lifted their target price on Arch Capital Group to $124.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Arch Capital Group currently has an average rating of "Moderate Buy" and an average target price of $114.63.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL traded down $0.14 during midday trading on Tuesday, hitting $90.97. The company had a trading volume of 1,431,982 shares, compared to its average volume of 1,694,170. The business's 50-day simple moving average is $92.57 and its 200-day simple moving average is $92.28. The stock has a market cap of $34.09 billion, a price-to-earnings ratio of 9.32, a price-to-earnings-growth ratio of 6.23 and a beta of 0.53. 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 twelve month low of $82.49 and a twelve month high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $4.52 billion during the quarter, compared to analysts' expectations of $4.75 billion. During the same period in the prior year, the company posted $2.45 EPS. The company's revenue for the quarter was up 10.5% compared to the same quarter last year. On average, research analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current 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.