Vestcor Inc Cuts Stock Holdings in Arch Capital Group Ltd. $ACGL

Vestcor Inc reduced its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 72.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,630 shares of the insurance provider’s stock after selling 29,878 shares during the period. Vestcor Inc’s holdings in Arch Capital Group were worth $1,116,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ACGL. Elyxium Wealth LLC purchased a new position in Arch Capital Group during the fourth quarter worth about $27,000. WealthCollab LLC raised its holdings in Arch Capital Group by 410.3% during the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 238 shares in the last quarter. JPL Wealth Management LLC purchased a new position in Arch Capital Group during the third quarter worth about $28,000. Grove Bank & Trust purchased a new position in Arch Capital Group during the fourth quarter worth about $30,000. Finally, Aventura Private Wealth LLC purchased a new position in Arch Capital Group during the fourth quarter worth about $30,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Daniel Joseph Houston bought 5,300 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were purchased at an average price of $94.08 per share, for a total transaction of $498,624.00. Following the completion of the transaction, the director owned 9,915 shares in the company, valued at $932,803.20. The trade was a 114.84% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brian S. Posner sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total transaction of $58,980.00. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 8,000 shares of company stock worth $144,590. 3.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ACGL. JPMorgan Chase & Co. cut their price target on shares of Arch Capital Group from $117.00 to $110.00 and set a “neutral” rating for the company in a report on Monday, April 20th. Weiss Ratings cut shares of Arch Capital Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Cantor Fitzgerald reissued a “neutral” rating and set a $100.00 price target (up from $97.00) on shares of Arch Capital Group in a report on Tuesday, February 17th. Royal Bank Of Canada increased their price target on shares of Arch Capital Group from $108.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, February 11th. Finally, Citigroup upped their target price on shares of Arch Capital Group from $120.00 to $122.50 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $106.32.

Arch Capital Group Stock Down 1.7%

ACGL stock opened at $89.61 on Tuesday. The company’s 50 day simple moving average is $94.77 and its 200-day simple moving average is $95.05. The firm has a market capitalization of $31.31 billion, a PE ratio of 6.88, a P/E/G ratio of 5.01 and a beta of 0.32. Arch Capital Group Ltd. has a 12 month low of $82.44 and a 12 month high of $103.39. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.55 and a quick ratio of 0.55.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $2.50 EPS for the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. The business had revenue of $4.52 billion for the quarter. Equities analysts expect that Arch Capital Group Ltd. will post 9.29 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.