Desjardins Global Asset Management Inc. Sells 13,528 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Desjardins Global Asset Management Inc. reduced its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 21.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 48,515 shares of the insurance provider’s stock after selling 13,528 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Arch Capital Group were worth $3,603,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Householder Group Estate & Retirement Specialist LLC bought a new stake in Arch Capital Group during the 4th quarter worth approximately $27,000. First Horizon Advisors Inc. increased its holdings in Arch Capital Group by 151.0% during the 1st quarter. First Horizon Advisors Inc. now owns 497 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 299 shares in the last quarter. Steward Financial Group LLC increased its holdings in Arch Capital Group by 180.7% during the 3rd quarter. Steward Financial Group LLC now owns 525 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 338 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in Arch Capital Group during the 2nd quarter worth approximately $47,000. Finally, CVA Family Office LLC bought a new stake in Arch Capital Group during the 4th quarter worth approximately $47,000. 89.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ACGL has been the subject of several recent analyst reports. Morgan Stanley upped their target price on Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Monday. Wells Fargo & Company increased their price objective on Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Evercore ISI increased their price objective on Arch Capital Group from $92.00 to $100.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. JMP Securities reissued a “market outperform” rating and set a $100.00 price objective on shares of Arch Capital Group in a report on Monday. Finally, Citigroup reduced their price objective on Arch Capital Group from $91.00 to $89.00 and set a “neutral” rating for the company in a report on Monday, January 22nd. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Arch Capital Group has an average rating of “Moderate Buy” and an average price target of $96.23.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, CEO Maamoun Rajeh sold 50,000 shares of Arch Capital Group stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $87.48, for a total transaction of $4,374,000.00. Following the sale, the chief executive officer now directly owns 336,170 shares of the company’s stock, valued at approximately $29,408,151.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Nicolas Papadopoulo sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $87.52, for a total value of $5,251,200.00. Following the sale, the insider now directly owns 651,931 shares of the company’s stock, valued at approximately $57,057,001.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Maamoun Rajeh sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $87.48, for a total value of $4,374,000.00. Following the completion of the sale, the chief executive officer now directly owns 336,170 shares in the company, valued at $29,408,151.60. The disclosure for this sale can be found here. Insiders have sold a total of 135,689 shares of company stock worth $11,872,217 in the last 90 days. Company insiders own 4.00% of the company’s stock.

Arch Capital Group Trading Up 1.5 %

Shares of ACGL traded up $1.38 during trading hours on Tuesday, hitting $91.14. The company had a trading volume of 1,005,292 shares, compared to its average volume of 1,725,926. The firm has a market cap of $34.19 billion, a P/E ratio of 7.72, a P/E/G ratio of 1.12 and a beta of 0.57. The stock’s 50 day moving average price is $88.92 and its 200 day moving average price is $83.71. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.17. Arch Capital Group Ltd. has a 52-week low of $69.05 and a 52-week high of $95.01.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Thursday, February 15th. The insurance provider reported $2.49 EPS for the quarter, topping the consensus estimate of $1.94 by $0.55. The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.67 billion. Arch Capital Group had a return on equity of 21.94% and a net margin of 32.59%. During the same quarter in the previous year, the business earned $2.14 earnings per share. On average, research analysts predict that Arch Capital Group Ltd. will post 8.02 EPS for the current 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.