TD Asset Management Inc Cuts Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Key Points

• TD Asset Management Inc reduced its stake in Arch Capital Group by 9% in the first quarter, now owning approximately $33.54 million worth of shares.
• Several hedge funds significantly increased their positions in Arch Capital Group, with First Trust Advisors LP boosting their holdings by 663.3% in the last quarter.
• Arch Capital Group reported $1.54 earnings per share (EPS) for the last quarter, falling short of analyst expectations and revealing a 10.5% year-over-year revenue increase.

TD Asset Management Inc lessened its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 9.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 348,742 shares of the insurance provider's stock after selling 34,521 shares during the quarter. TD Asset Management Inc owned 0.09% of Arch Capital Group worth $33,542,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Capital A Wealth Management LLC bought a new position in shares of Arch Capital Group in the fourth quarter worth about $25,000. Bartlett & CO. Wealth Management LLC bought a new position in shares of Arch Capital Group in the first quarter worth about $27,000. Wayfinding Financial LLC bought a new position in shares of Arch Capital Group in the first quarter worth about $31,000. Grove Bank & Trust bought a new position in shares of Arch Capital Group in the first quarter worth about $40,000. Finally, Quarry LP bought a new position in shares of Arch Capital Group in the fourth quarter worth about $58,000. Institutional investors own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Arch Capital Group from $106.00 to $107.00 and gave the stock a "neutral" rating in a report on Tuesday, April 8th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $101.00 price objective (down previously from $113.00) on shares of Arch Capital Group in a research note on Wednesday, July 9th. UBS Group upped their price objective on Arch Capital Group to $124.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Jefferies Financial Group downgraded Arch Capital Group from a "buy" rating to a "hold" rating and lowered their price objective for the company from $106.00 to $100.00 in a research note on Tuesday, June 10th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $125.00 price objective on shares of Arch Capital Group in a research note on Wednesday, April 30th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $113.40.

Insiders Place Their Bets

In other Arch Capital Group news, insider John M. Pasquesi sold 75,060 shares of the company's stock in a transaction dated 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 sale, the insider owned 579,218 shares in the company, valued at $54,452,284.18. This represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Louis T. Petrillo sold 16,650 shares of the company's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.53, for a total value of $1,573,924.50. Following the completion of the transaction, the insider directly owned 140,023 shares of the company's stock, valued at approximately $13,236,374.19. This trade represents a 10.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,340 shares of company stock worth $9,824,861 over the last quarter. 4.20% of the stock is currently owned by corporate insiders.

Arch Capital Group Stock Up 1.6%

Shares of NASDAQ ACGL traded up $1.40 during mid-day trading on Friday, hitting $87.46. 1,280,575 shares of the stock traded hands, compared to its average volume of 1,914,894. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a fifty day moving average price of $90.41 and a 200-day moving average price of $91.64. Arch Capital Group Ltd. has a 52 week low of $82.49 and a 52 week high of $116.47. The company has a market cap of $32.77 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 5.90 and a beta of 0.51.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.30 by $0.28. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.29 billion. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%. During the same period in the prior year, the company posted $2.57 earnings per share. Research 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.