TD Asset Management Inc Has $33.54 Million Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

TD Asset Management Inc trimmed its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 9.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 348,742 shares of the insurance provider’s stock after selling 34,521 shares during the quarter. TD Asset Management Inc owned about 0.09% of Arch Capital Group worth $33,542,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ACGL. First Trust Advisors LP increased its position in Arch Capital Group by 663.3% during the fourth quarter. First Trust Advisors LP now owns 2,462,382 shares of the insurance provider’s stock worth $227,401,000 after buying an additional 2,139,782 shares during the last quarter. Marshall Wace LLP acquired a new position in Arch Capital Group during the fourth quarter worth $151,342,000. GAMMA Investing LLC increased its position in Arch Capital Group by 10,817.9% during the first quarter. GAMMA Investing LLC now owns 806,181 shares of the insurance provider’s stock worth $775,380,000 after buying an additional 798,797 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Arch Capital Group by 17.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,576,223 shares of the insurance provider’s stock worth $330,264,000 after buying an additional 522,484 shares during the last quarter. Finally, Deutsche Bank AG increased its position in Arch Capital Group by 31.1% during the fourth quarter. Deutsche Bank AG now owns 2,098,619 shares of the insurance provider’s stock worth $193,807,000 after buying an additional 498,426 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Arch Capital Group

In related news, insider Louis T. Petrillo sold 16,650 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $94.53, for a total value of $1,573,924.50. Following the completion of the transaction, the insider owned 140,023 shares of the company’s stock, valued at $13,236,374.19. This represents a 10.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John M. Pasquesi sold 75,060 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $94.01, for a total transaction of $7,056,390.60. Following the completion of the transaction, the insider directly owned 579,218 shares of the company’s stock, valued at $54,452,284.18. This trade represents a 11.47% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,976 shares of company stock worth $10,531,038. 4.10% of the stock is currently owned by company insiders.

Arch Capital Group Stock Performance

NASDAQ:ACGL opened at $86.50 on Tuesday. Arch Capital Group Ltd. has a 12-month low of $82.49 and a 12-month high of $116.47. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $32.42 billion, a PE ratio of 8.86, a price-to-earnings-growth ratio of 6.18 and a beta of 0.51. The firm has a 50-day moving average price of $90.84 and a 200 day moving average price of $91.76.

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on ACGL. Barclays decreased their price target on shares of Arch Capital Group from $100.00 to $93.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. upped their price target on shares of Arch Capital Group from $106.00 to $107.00 and gave the company a “neutral” rating in a report on Tuesday, April 8th. Wells Fargo & Company restated an “overweight” rating and set a $110.00 price target (up from $108.00) on shares of Arch Capital Group in a report on Thursday, July 10th. Jefferies Financial Group cut shares of Arch Capital Group from a “buy” rating to a “hold” rating and decreased their price target for the company from $106.00 to $100.00 in a report on Tuesday, June 10th. Finally, JMP Securities restated a “market outperform” rating and set a $125.00 price target on shares of Arch Capital Group in a report on Wednesday, April 30th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Arch Capital Group has a consensus rating of “Moderate Buy” and an average price target of $113.60.

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.