California State Teachers Retirement System Trims Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

California State Teachers Retirement System reduced its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 576,836 shares of the insurance provider’s stock after selling 8,575 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of Arch Capital Group worth $53,271,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. grew its holdings in shares of Arch Capital Group by 56.6% in the fourth quarter. Pittenger & Anderson Inc. now owns 6,720 shares of the insurance provider’s stock valued at $621,000 after purchasing an additional 2,430 shares during the period. Asahi Life Asset Management CO. LTD. acquired a new position in Arch Capital Group in the 4th quarter valued at about $366,000. Northstar Group Inc. grew its stake in shares of Arch Capital Group by 5.1% in the 4th quarter. Northstar Group Inc. now owns 122,197 shares of the insurance provider’s stock valued at $11,285,000 after buying an additional 5,947 shares during the period. William Blair Investment Management LLC increased its holdings in shares of Arch Capital Group by 33.7% during the 4th quarter. William Blair Investment Management LLC now owns 624,055 shares of the insurance provider’s stock worth $57,631,000 after buying an additional 157,197 shares during the last quarter. Finally, Independent Advisor Alliance increased its holdings in shares of Arch Capital Group by 98.8% during the 4th quarter. Independent Advisor Alliance now owns 6,925 shares of the insurance provider’s stock worth $640,000 after buying an additional 3,442 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Arch Capital Group news, insider Louis T. Petrillo sold 11,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Francois Morin sold 12,630 shares of the company’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $94.58, for a total transaction of $1,194,545.40. Following the completion of the transaction, the chief financial officer now owns 274,681 shares of the company’s stock, valued at approximately $25,979,328.98. The trade was a 4.40% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 123,576 shares of company stock worth $11,586,638. Corporate insiders own 4.20% of the company’s stock.

Arch Capital Group Price Performance

Shares of NASDAQ ACGL opened at $94.62 on Wednesday. The stock’s 50-day moving average is $92.60 and its two-hundred day moving average is $93.24. 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 Ltd. has a 1-year low of $82.49 and a 1-year high of $116.47. The company has a market cap of $35.46 billion, a price-to-earnings ratio of 8.45, a price-to-earnings-growth ratio of 2.31 and a beta of 0.57.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Tuesday, April 29th. The insurance provider reported $1.54 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.05). Arch Capital Group had a return on equity of 17.96% and a net margin of 24.73%. The firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same quarter last year, the firm earned $2.45 EPS. The company’s revenue was up 10.5% on a year-over-year basis. Analysts forecast that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Analysts Set New Price Targets

ACGL has been the topic of a number of recent analyst reports. UBS Group lowered their price objective on Arch Capital Group from $127.00 to $124.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Morgan Stanley set a $110.00 price target on Arch Capital Group and gave the company an “overweight” rating in a research note on Monday, May 19th. Royal Bank of Canada cut their price objective on 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. Jefferies Financial Group upped their target price 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. Finally, JPMorgan Chase & Co. increased their target price on shares of Arch Capital Group from $106.00 to $107.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 8th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $115.00.

About Arch Capital Group

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.