The Manufacturers Life Insurance Company Lowers Position in Arch Capital Group Ltd. $ACGL

Key Points

• The Manufacturers Life Insurance Company reduced its Arch Capital Group stake by 25.6% in the first quarter, selling 147,029 shares and retaining 427,278 shares valued at approximately $41 million. Institutional investors collectively own 89.07% of ACGL.
• Arch Capital reported quarterly earnings of $2.56 per share, exceeding the $2.47 consensus estimate, while revenue reached $8.72 billion. Analysts expect full-year earnings of $9.35 per share.
• Analyst sentiment is mixed, with eight Buy, seven Hold and one Sell rating; the consensus rating is Hold with a $110.39 target price, compared with the stock’s reported opening price of $101.14.

The Manufacturers Life Insurance Company cut its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 25.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 427,278 shares of the insurance provider's stock after selling 147,029 shares during the period. The Manufacturers Life Insurance Company owned about 0.12% of Arch Capital Group worth $41,014,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Elyxium Wealth LLC purchased a new stake in shares of Arch Capital Group in the fourth quarter valued at about $27,000. WealthCollab LLC boosted its holdings in Arch Capital Group by 410.3% during the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider's stock worth $27,000 after purchasing an additional 238 shares during the last quarter. JPL Wealth Management LLC purchased a new position in Arch Capital Group during the third quarter worth about $28,000. TD Waterhouse Canada Inc. grew its position in Arch Capital Group by 72.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 323 shares of the insurance provider's stock worth $31,000 after purchasing an additional 136 shares in the last quarter. Finally, Zions Bancorporation National Association UT grew its position in Arch Capital Group by 390.9% in the 4th quarter. Zions Bancorporation National Association UT now owns 324 shares of the insurance provider's stock worth $31,000 after purchasing an additional 258 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Arch Capital Group news, Director Brian S. Posner sold 3,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total transaction of $58,980.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.30% of the company's stock.

Arch Capital Group Stock Down 3.3%

ACGL opened at $101.14 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 0.23. The stock has a market cap of $35.34 billion, a price-to-earnings ratio of 7.91, a PEG ratio of 5.20 and a beta of 0.31. Arch Capital Group Ltd. has a twelve month low of $82.44 and a twelve month high of $107.08. The company's 50-day moving average price is $96.42 and its two-hundred day moving average price is $96.07.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its earnings results on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share for the quarter, beating analysts' consensus estimates of $2.47 by $0.09. Arch Capital Group had a net margin of 24.40% and a return on equity of 17.06%. The firm had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the prior year, the firm earned $2.58 EPS. As a group, equities analysts expect that Arch Capital Group Ltd. will post 9.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on ACGL shares. Royal Bank Of Canada reissued an "outperform" rating and set a $120.00 target price (up from $115.00) on shares of Arch Capital Group in a research report on Thursday. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $102.00 target price (up from $100.00) on shares of Arch Capital Group in a report on Thursday, July 9th. Keefe, Bruyette & Woods decreased their price target on Arch Capital Group from $102.00 to $99.00 and set a "market perform" rating for the company in a research report on Wednesday, July 8th. Barclays lifted their price target on Arch Capital Group from $104.00 to $106.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 8th. Finally, UBS Group reissued a "buy" rating and issued a $120.00 price objective (up from $114.00) on shares of Arch Capital Group in a research report on Wednesday, July 8th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $110.39.

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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