Teachers Retirement System of The State of Kentucky Sells 62,744 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• Teachers Retirement System of Kentucky cut its stake in Arch Capital Group by 68.1%, selling 62,744 shares and leaving it with 29,361 shares valued at about $2.66 million.
• Corporate insiders sold a total of 260,096 shares in the last quarter (about $24.53 million), including Maamoun Rajeh (47,430 shares at $96.12) and John M. Pasquesi (203,866 shares at $93.90); insiders now own 4.20% of the company.
• Arch posted a quarterly beat with $2.98 EPS vs. $2.34 expected and $4.93 billion in revenue, while analyst coverage is mixed (nine Buys, eight Holds, one Sell) giving a consensus rating of "Hold" and an average target of $109.20.

Teachers Retirement System of The State of Kentucky cut its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 68.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,361 shares of the insurance provider's stock after selling 62,744 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Arch Capital Group were worth $2,664,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ACGL. Vanguard Group Inc. lifted its holdings in shares of Arch Capital Group by 1.2% during the second quarter. Vanguard Group Inc. now owns 42,414,557 shares of the insurance provider's stock worth $3,861,845,000 after purchasing an additional 493,583 shares during the period. Artisan Partners Limited Partnership lifted its holdings in Arch Capital Group by 1.7% during the 2nd quarter. Artisan Partners Limited Partnership now owns 23,833,290 shares of the insurance provider's stock worth $2,170,021,000 after buying an additional 408,950 shares during the period. WCM Investment Management LLC grew its position in shares of Arch Capital Group by 1.3% in the 3rd quarter. WCM Investment Management LLC now owns 13,525,402 shares of the insurance provider's stock valued at $1,214,987,000 after buying an additional 171,693 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Arch Capital Group by 1.1% in the second quarter. Geode Capital Management LLC now owns 10,502,003 shares of the insurance provider's stock valued at $952,523,000 after buying an additional 115,465 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Arch Capital Group by 4.6% during the third quarter. JPMorgan Chase & Co. now owns 8,190,927 shares of the insurance provider's stock worth $743,168,000 after acquiring an additional 360,626 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ACGL shares. Morgan Stanley set a $125.00 target price on shares of Arch Capital Group in a research report on Friday, January 16th. Weiss Ratings raised shares of Arch Capital Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, February 4th. Mizuho increased their price objective on shares of Arch Capital Group from $95.00 to $102.00 and gave the stock a "neutral" rating in a research report on Thursday, February 12th. Royal Bank Of Canada boosted their target price on shares of Arch Capital Group from $108.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, February 11th. Finally, Citigroup reiterated a "buy" rating and set a $120.00 price target (up from $113.00) on shares of Arch Capital Group in a report on Friday, February 13th. Nine equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Arch Capital Group has an average rating of "Hold" and a consensus target price of $109.20.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, insider Maamoun Rajeh sold 47,430 shares of the firm's stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $96.12, for a total value of $4,558,971.60. Following the completion of the sale, the insider owned 433,589 shares of the company's stock, valued at approximately $41,676,574.68. This trade represents a 9.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John M. Pasquesi sold 203,866 shares of the company's stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $93.90, for a total value of $19,143,017.40. Following the transaction, the insider directly owned 351,356 shares in the company, valued at $32,992,328.40. The trade was a 36.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 260,096 shares of company stock worth $24,530,685. Corporate insiders own 4.20% of the company's stock.

Arch Capital Group Stock Down 2.1%

Shares of NASDAQ ACGL opened at $98.42 on Thursday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.13. The firm has a market cap of $35.02 billion, a PE ratio of 8.47, a P/E/G ratio of 4.04 and a beta of 0.40. The company's fifty day simple moving average is $96.26 and its 200 day simple moving average is $92.86. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $103.39.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings data on Monday, February 9th. The insurance provider reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.64. The firm had revenue of $4.93 billion for the quarter, compared to analyst estimates of $3.94 billion. Arch Capital Group had a net margin of 22.07% and a return on equity of 16.73%. During the same quarter in the prior year, the business earned $2.26 earnings per share. As a group, sell-side analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Arch Capital Group Profile

Arch Capital Group Ltd. NASDAQ: ACGL is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch's product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.

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