Skandinaviska Enskilda Banken AB publ Trims Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Key Points

• Skandinaviska Enskilda Banken AB trimmed its stake in Arch Capital Group Ltd. by 11.1%, now owning 192,902 shares worth $18.5 million after selling 24,200 shares.
• Insiders at Arch Capital Group have sold over 111,976 shares collectively, valued at approximately $10.5 million, indicating a notable decrease in their ownership.
• Arch Capital Group's recent earnings report showed a miss on EPS expectations with $1.54 per share against a consensus estimate of $1.59, alongside revenues of $4.52 billion, falling short of the predicted $4.75 billion.

Skandinaviska Enskilda Banken AB publ cut its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 11.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,902 shares of the insurance provider's stock after selling 24,200 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.05% of Arch Capital Group worth $18,544,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ACGL. Norges Bank purchased a new stake in shares of Arch Capital Group in the 4th quarter worth about $437,291,000. First Trust Advisors LP raised its stake in Arch Capital Group by 663.3% in the 4th quarter. First Trust Advisors LP now owns 2,462,382 shares of the insurance provider's stock valued at $227,401,000 after purchasing an additional 2,139,782 shares during the last quarter. Marshall Wace LLP acquired a new position in Arch Capital Group in the 4th quarter valued at about $151,342,000. GAMMA Investing LLC raised its stake in Arch Capital Group by 10,817.9% in the 1st quarter. GAMMA Investing LLC now owns 806,181 shares of the insurance provider's stock valued at $775,380,000 after purchasing an additional 798,797 shares during the last quarter. Finally, High Ground Investment Management LLP raised its stake in Arch Capital Group by 246.3% in the 4th quarter. High Ground Investment Management LLP now owns 1,108,464 shares of the insurance provider's stock valued at $102,367,000 after purchasing an additional 788,393 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ACGL. Jefferies Financial Group downgraded shares of Arch Capital Group from a "buy" rating to a "hold" rating and cut their target price for the company from $106.00 to $100.00 in a research note on Tuesday, June 10th. Barclays cut their target price on shares of Arch Capital Group from $100.00 to $93.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. JMP Securities reissued a "market outperform" rating and issued a $125.00 target price on shares of Arch Capital Group in a research note on Wednesday, April 30th. Morgan Stanley set a $110.00 target price on shares of Arch Capital Group and gave the company an "overweight" rating in a research note on Monday, May 19th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $110.00 price objective (up previously from $108.00) on shares of Arch Capital Group in a research note on Thursday, July 10th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $113.60.

Arch Capital Group Trading Down 1.1%

ACGL traded down $0.92 on Wednesday, reaching $85.20. 1,427,900 shares of the company's stock were exchanged, compared to its average volume of 1,896,851. The company's 50 day moving average is $90.67 and its 200-day moving average is $91.72. The company has a market cap of $31.93 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 6.01 and a beta of 0.51. Arch Capital Group Ltd. has a twelve month low of $82.49 and a twelve month high of $116.47. 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 earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.30 by $0.28. The firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.29 billion. Arch Capital Group had a net margin of 20.72% and a return on equity of 15.79%. During the same quarter in the prior year, the company earned $2.57 EPS. Equities analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Insider Buying and Selling

In other Arch Capital Group news, CEO Nicolas Papadopoulo sold 7,636 shares of the company'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 completion of the transaction, the chief executive officer owned 795,718 shares in the company, valued at $73,588,000.64. This represents a 0.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John M. Pasquesi sold 75,060 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was 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 owned 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 have sold 111,976 shares of company stock worth $10,531,038 in the last 90 days. 4.10% of the stock is owned by insiders.

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.