Arch Capital Group Ltd. $ACGL Stock Holdings Lowered by KBC Group NV

KBC Group NV cut its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 9.3% in the 2nd quarter, Holdings Channel reports. The firm owned 541,985 shares of the insurance provider’s stock after selling 55,245 shares during the period. KBC Group NV’s holdings in Arch Capital Group were worth $49,348,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Arch Capital Group by 8.0% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 312,892 shares of the insurance provider’s stock valued at $28,489,000 after acquiring an additional 23,257 shares during the last quarter. National Pension Service raised its position in shares of Arch Capital Group by 0.7% during the second quarter. National Pension Service now owns 598,203 shares of the insurance provider’s stock worth $54,466,000 after purchasing an additional 4,350 shares during the period. Vise Technologies Inc. purchased a new stake in shares of Arch Capital Group during the second quarter valued at $671,000. Allworth Financial LP lifted its holdings in shares of Arch Capital Group by 2.5% during the second quarter. Allworth Financial LP now owns 14,590 shares of the insurance provider’s stock valued at $1,328,000 after purchasing an additional 361 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its position in shares of Arch Capital Group by 20.7% in the 2nd quarter. Illinois Municipal Retirement Fund now owns 144,845 shares of the insurance provider’s stock valued at $13,188,000 after purchasing an additional 24,875 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Stock Performance

Shares of ACGL opened at $91.78 on Thursday. The company has a market capitalization of $33.28 billion, a PE ratio of 8.59, a PEG ratio of 3.24 and a beta of 0.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.56 and a current ratio of 0.55. The company’s 50 day moving average price is $89.32 and its 200 day moving average price is $90.41. Arch Capital Group Ltd. has a 52 week low of $82.44 and a 52 week high of $102.37.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Monday, October 27th. The insurance provider reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $1.01. The company had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $4.39 billion. Arch Capital Group had a net margin of 20.96% and a return on equity of 16.38%. During the same quarter in the prior year, the firm earned $1.99 EPS. Research analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Insider Activity

In related news, insider Maamoun Rajeh sold 10,000 shares of Arch Capital Group stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total transaction of $941,500.00. Following the completion of the sale, the insider owned 433,589 shares of the company’s stock, valued at approximately $40,822,404.35. This trade represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on ACGL shares. Wolfe Research began coverage on Arch Capital Group in a report on Monday, September 15th. They set a “peer perform” rating on the stock. UBS Group restated a “buy” rating and set a $118.00 price target (down previously from $124.00) on shares of Arch Capital Group in a report on Monday, August 4th. JPMorgan Chase & Co. upped their price target on shares of Arch Capital Group from $110.00 to $111.00 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. Cantor Fitzgerald reiterated a “neutral” rating and set a $98.00 price objective on shares of Arch Capital Group in a research report on Tuesday, October 28th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Arch Capital Group in a report on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $109.00.

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.