Investment Management Corp of Ontario Sells 6,546 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Investment Management Corp of Ontario reduced its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 15.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,469 shares of the insurance provider's stock after selling 6,546 shares during the quarter. Investment Management Corp of Ontario's holdings in Arch Capital Group were worth $3,368,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ACGL. Jacobs Levy Equity Management Inc. boosted its stake in Arch Capital Group by 8.8% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 113,532 shares of the insurance provider's stock worth $10,485,000 after purchasing an additional 9,229 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Arch Capital Group by 11.2% during the fourth quarter. Janus Henderson Group PLC now owns 49,944 shares of the insurance provider's stock worth $4,613,000 after purchasing an additional 5,028 shares during the last quarter. Gotham Asset Management LLC grew its holdings in shares of Arch Capital Group by 6.9% during the fourth quarter. Gotham Asset Management LLC now owns 15,493 shares of the insurance provider's stock worth $1,431,000 after purchasing an additional 1,006 shares during the last quarter. Focus Partners Wealth grew its holdings in Arch Capital Group by 1.3% during the 4th quarter. Focus Partners Wealth now owns 55,888 shares of the insurance provider's stock worth $5,164,000 after acquiring an additional 704 shares during the last quarter. Finally, Ellevest Inc. bought a new stake in Arch Capital Group during the 4th quarter worth about $242,000. 89.07% of the stock is owned by institutional investors.

Arch Capital Group Trading Up 3.0%

Shares of Arch Capital Group stock traded up $2.69 during trading hours on Thursday, hitting $93.54. The company's stock had a trading volume of 1,377,589 shares, compared to its average volume of 1,731,610. Arch Capital Group Ltd. has a 12 month low of $82.49 and a 12 month high of $116.47. The stock has a 50 day moving average of $92.32 and a 200 day moving average of $93.73. The company has a market capitalization of $35.05 billion, a PE ratio of 8.35, a price-to-earnings-growth ratio of 2.31 and a beta of 0.57. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.54 and a quick ratio of 0.58.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.59 by ($0.05). The firm had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.75 billion. Arch Capital Group had a return on equity of 17.96% and a net margin of 24.73%. The firm's quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.45 earnings per share. Analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays dropped 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. UBS Group reduced their target price on shares of Arch Capital Group from $127.00 to $124.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley cut their target price on Arch Capital Group from $115.00 to $110.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Wells Fargo & Company increased their target price on Arch Capital Group from $106.00 to $108.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Finally, Keefe, Bruyette & Woods increased their target price on Arch Capital Group from $104.00 to $113.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Arch Capital Group has an average rating of "Moderate Buy" and a consensus price target of $115.00.

Insider Buying and Selling

In related news, insider Louis T. Petrillo sold 11,600 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $91.00, for a total transaction of $1,055,600.00. Following the completion of the transaction, the insider now directly owns 140,023 shares in the company, valued at approximately $12,742,093. This trade represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nicolas Papadopoulo sold 7,636 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $92.48, for a total value of $706,177.28. Following the transaction, the chief executive officer now owns 795,718 shares of the company's stock, valued at approximately $73,588,000.64. The trade was a 0.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,946 shares of company stock worth $10,392,092. 4.20% of the stock is owned by corporate insiders.

Arch Capital Group 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.