MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Reduces Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 34.9% in the fourth quarter, HoldingsChannel reports. The firm owned 40,250 shares of the insurance provider’s stock after selling 21,537 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Arch Capital Group were worth $3,717,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACGL. Jacobs Levy Equity Management Inc. lifted its stake in shares of Arch Capital Group by 8.8% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 113,532 shares of the insurance provider’s stock valued at $10,485,000 after purchasing an additional 9,229 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Arch Capital Group by 11.2% in the 4th quarter. Janus Henderson Group PLC now owns 49,944 shares of the insurance provider’s stock valued at $4,613,000 after purchasing an additional 5,028 shares in the last quarter. Gotham Asset Management LLC lifted its stake in shares of Arch Capital Group by 6.9% in the 4th quarter. Gotham Asset Management LLC now owns 15,493 shares of the insurance provider’s stock valued at $1,431,000 after purchasing an additional 1,006 shares in the last quarter. Focus Partners Wealth lifted its stake in shares of Arch Capital Group by 1.3% in the 4th quarter. Focus Partners Wealth now owns 55,888 shares of the insurance provider’s stock valued at $5,164,000 after purchasing an additional 704 shares in the last quarter. Finally, Ellevest Inc. acquired a new position in shares of Arch Capital Group in the 4th quarter valued at about $242,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ACGL. Royal Bank of Canada decreased their price target on shares of Arch Capital Group from $125.00 to $110.00 and set an “outperform” rating for the company in a research report on Wednesday, February 12th. Keefe, Bruyette & Woods upped their target price on Arch Capital Group from $104.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 6th. JMP Securities reiterated a “market outperform” rating and set a $125.00 target price on shares of Arch Capital Group in a report on Wednesday, April 30th. Barclays reduced their price target on Arch Capital Group from $100.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. Finally, Jefferies Financial Group increased their price objective on shares of Arch Capital Group from $105.00 to $106.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Arch Capital Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.00.

Arch Capital Group Stock Up 0.6%

Shares of NASDAQ:ACGL opened at $95.16 on Tuesday. The firm has a market cap of $35.66 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 2.31 and a beta of 0.57. The company has a fifty day simple moving average of $92.59 and a 200 day simple moving average of $93.45. The company has a current ratio of 0.54, a quick ratio of 0.58 and a debt-to-equity ratio of 0.15. Arch Capital Group Ltd. has a 12-month low of $82.49 and a 12-month high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.59 by ($0.05). The company had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.75 billion. Arch Capital Group had a return on equity of 17.96% and a net margin of 24.73%. Arch Capital Group’s revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.45 earnings per share. On average, equities research analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Insider Transactions at Arch Capital Group

In other Arch Capital Group news, insider Louis T. Petrillo sold 11,600 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 140,023 shares in the company, valued at $12,742,093. This represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Nicolas Papadopoulo sold 7,636 shares of the stock in a transaction that occurred on 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 directly owns 795,718 shares in the company, valued at approximately $73,588,000.64. This represents a 0.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,946 shares of company stock valued at $10,392,092. Insiders own 4.20% of the company’s stock.

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.