SeaBridge Investment Advisors LLC Has $2 Million Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

SeaBridge Investment Advisors LLC lowered its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 13.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,748 shares of the insurance provider’s stock after selling 3,262 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in Arch Capital Group were worth $1,996,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its position in Arch Capital Group by 14.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,804 shares of the insurance provider’s stock valued at $4,924,000 after acquiring an additional 6,406 shares in the last quarter. DAVENPORT & Co LLC acquired a new stake in Arch Capital Group in the 1st quarter valued at about $251,000. D.A. Davidson & CO. increased its position in Arch Capital Group by 10.9% in the 1st quarter. D.A. Davidson & CO. now owns 45,552 shares of the insurance provider’s stock valued at $4,381,000 after acquiring an additional 4,460 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in Arch Capital Group by 24.7% in the 1st quarter. Crossmark Global Holdings Inc. now owns 37,625 shares of the insurance provider’s stock valued at $3,619,000 after acquiring an additional 7,448 shares in the last quarter. Finally, World Investment Advisors grew its position in shares of Arch Capital Group by 114.1% during the 1st quarter. World Investment Advisors now owns 6,321 shares of the insurance provider’s stock worth $608,000 after buying an additional 3,369 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Morgan Stanley set a $110.00 price target on shares of Arch Capital Group and gave the stock an “overweight” rating in a research report on Monday, May 19th. JMP Securities reiterated a “market outperform” rating and set a $125.00 price target on shares of Arch Capital Group in a research report on Wednesday, April 30th. JPMorgan Chase & Co. lifted their price target on shares of Arch Capital Group from $106.00 to $107.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 8th. Wells Fargo & Company reiterated an “overweight” rating and set a $110.00 price target (up previously from $108.00) on shares of Arch Capital Group in a research report on Thursday, July 10th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $101.00 price objective (down previously from $113.00) on shares of Arch Capital Group in a research note on Wednesday, July 9th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $113.60.

Insider Buying and Selling at Arch Capital Group

In other news, insider John M. Pasquesi sold 75,060 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $94.01, for a total value of $7,056,390.60. Following the sale, the insider owned 579,218 shares of the company’s stock, valued at $54,452,284.18. The trade was a 11.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Louis T. Petrillo sold 16,650 shares of the business’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $94.53, for a total transaction of $1,573,924.50. Following the transaction, the insider owned 140,023 shares in the company, valued at approximately $13,236,374.19. The trade was a 10.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 111,976 shares of company stock worth $10,531,038. Company insiders own 4.10% of the company’s stock.

Arch Capital Group Stock Performance

Shares of ACGL opened at $88.19 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. Arch Capital Group Ltd. has a twelve month low of $82.49 and a twelve month high of $116.47. The firm’s 50 day moving average price is $91.82 and its two-hundred day moving average price is $91.98. The firm has a market cap of $33.05 billion, a P/E ratio of 9.04, a PEG ratio of 6.26 and a beta of 0.51.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.05). The company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.75 billion. Arch Capital Group had a net margin of 20.72% and a return on equity of 15.79%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.45 EPS. On average, analysts forecast that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

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.