Teacher Retirement System of Texas Sells 121,898 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Teacher Retirement System of Texas lowered its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 46.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 142,721 shares of the insurance provider's stock after selling 121,898 shares during the period. Teacher Retirement System of Texas' holdings in Arch Capital Group were worth $13,727,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Arch Capital Group by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 41,999,603 shares of the insurance provider's stock worth $3,878,663,000 after acquiring an additional 182,150 shares during the period. Geode Capital Management LLC increased its position in shares of Arch Capital Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 11,010,756 shares of the insurance provider's stock worth $1,014,648,000 after purchasing an additional 180,493 shares during the period. Nuveen Asset Management LLC raised its stake in Arch Capital Group by 1.9% in the fourth quarter. Nuveen Asset Management LLC now owns 4,888,997 shares of the insurance provider's stock valued at $451,499,000 after purchasing an additional 93,226 shares in the last quarter. Northern Trust Corp raised its stake in Arch Capital Group by 11.3% in the fourth quarter. Northern Trust Corp now owns 4,860,804 shares of the insurance provider's stock valued at $448,895,000 after purchasing an additional 495,262 shares in the last quarter. Finally, Norges Bank bought a new stake in Arch Capital Group during the fourth quarter worth about $437,291,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Arch Capital Group

In other Arch Capital Group news, insider John M. Pasquesi sold 75,060 shares of the firm'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 transaction of $7,056,390.60. Following the completion of the transaction, the insider owned 579,218 shares in the company, valued at $54,452,284.18. This trade represents a 11.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Louis T. Petrillo sold 16,650 shares of the firm'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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,976 shares of company stock valued at $10,531,038 over the last three months. Insiders own 4.20% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Morgan Stanley set a $110.00 price target on Arch Capital Group and gave the stock an "overweight" rating in a report on Monday, May 19th. Wells Fargo & Company boosted their target price on Arch Capital Group from $106.00 to $108.00 and gave the stock an "overweight" rating in a research note 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 research note on Wednesday, April 30th. Jefferies Financial Group lowered shares of Arch Capital Group from a "buy" rating to a "hold" rating and decreased their price target for the company from $106.00 to $100.00 in a report on Tuesday, June 10th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Arch Capital Group from $106.00 to $107.00 and gave the company a "neutral" rating in a research note on Tuesday, April 8th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $114.27.

Arch Capital Group Stock Up 0.8%

Shares of ACGL traded up $0.69 during trading hours on Friday, hitting $89.07. The company had a trading volume of 1,964,531 shares, compared to its average volume of 1,713,494. The stock has a market capitalization of $33.38 billion, a price-to-earnings ratio of 9.13, a P/E/G ratio of 6.17 and a beta of 0.51. The firm has a fifty day moving average price of $92.21 and a 200-day moving average price of $92.09. Arch Capital Group Ltd. has a 52-week low of $82.49 and a 52-week 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 announced its quarterly earnings results on Tuesday, April 29th. The insurance provider reported $1.54 EPS for the quarter, missing analysts' consensus estimates of $1.59 by ($0.05). Arch Capital Group had a return on equity of 15.79% and a net margin of 20.72%. The company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.75 billion. During the same quarter in the prior year, the firm earned $2.45 earnings per share. The business's revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts forecast that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal 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.