New York State Teachers Retirement System Sells 14,490 Shares of Arch Capital Group Ltd. $ACGL

New York State Teachers Retirement System reduced its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 4.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 335,456 shares of the insurance provider’s stock after selling 14,490 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of Arch Capital Group worth $30,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Arch Capital Group by 1.2% in the second quarter. Vanguard Group Inc. now owns 42,414,557 shares of the insurance provider’s stock worth $3,861,845,000 after buying an additional 493,583 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in Arch Capital Group by 1.7% during the 2nd quarter. Artisan Partners Limited Partnership now owns 23,833,290 shares of the insurance provider’s stock worth $2,170,021,000 after acquiring an additional 408,950 shares during the period. Geode Capital Management LLC lifted its stake in Arch Capital Group by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 10,502,003 shares of the insurance provider’s stock worth $952,523,000 after purchasing an additional 115,465 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Arch Capital Group by 4.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,830,301 shares of the insurance provider’s stock valued at $712,956,000 after purchasing an additional 359,710 shares during the period. Finally, Norges Bank bought a new position in Arch Capital Group in the 2nd quarter valued at $441,551,000. 89.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Francois Morin sold 8,000 shares of the firm’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $94.62, for a total transaction of $756,960.00. Following the transaction, the chief financial officer directly owned 266,681 shares of the company’s stock, valued at approximately $25,233,356.22. This trade represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John M. Pasquesi sold 203,866 shares of Arch Capital Group stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $93.90, for a total value of $19,143,017.40. Following the completion of the transaction, the insider owned 351,356 shares in the company, valued at approximately $32,992,328.40. This represents a 36.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 220,666 shares of company stock worth $20,728,673. 4.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ACGL has been the topic of several research analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of Arch Capital Group in a report on Tuesday, October 28th. Wells Fargo & Company decreased their target price on Arch Capital Group from $111.00 to $106.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Evercore ISI set a $100.00 price target on Arch Capital Group and gave the company an “in-line” rating in a research report on Wednesday, January 7th. Roth Capital set a $110.00 price objective on Arch Capital Group and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Finally, Barclays set a $104.00 target price on shares of Arch Capital Group and gave the company an “equal weight” rating in a research note on Thursday. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Arch Capital Group currently has an average rating of “Hold” and a consensus target price of $106.60.

Arch Capital Group Stock Down 2.0%

Shares of ACGL opened at $93.24 on Tuesday. The firm has a market cap of $33.81 billion, a P/E ratio of 8.72, a P/E/G ratio of 2.14 and a beta of 0.45. The stock has a 50 day simple moving average of $93.39 and a two-hundred day simple moving average of $90.87. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.55 and a quick ratio of 0.55. Arch Capital Group Ltd. has a 1 year low of $82.44 and a 1 year high of $97.60.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Monday, October 27th. The insurance provider reported $2.77 EPS for the quarter, topping the consensus estimate of $1.76 by $1.01. The firm had revenue of $5.11 billion for 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 period last year, the firm posted $1.99 earnings per share. On average, analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Arch Capital Group Profile

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.