Renaissance Technologies LLC Reduces Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Renaissance Technologies LLC cut its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 25.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 137,600 shares of the insurance provider’s stock after selling 46,100 shares during the quarter. Renaissance Technologies LLC’s holdings in Arch Capital Group were worth $12,707,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its position in shares of Arch Capital Group by 0.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 32,147 shares of the insurance provider’s stock worth $2,969,000 after buying an additional 110 shares during the period. HBK Sorce Advisory LLC lifted its position in Arch Capital Group by 5.7% during the 4th quarter. HBK Sorce Advisory LLC now owns 2,373 shares of the insurance provider’s stock worth $219,000 after acquiring an additional 127 shares in the last quarter. Flagship Harbor Advisors LLC boosted its holdings in Arch Capital Group by 5.9% in the 4th quarter. Flagship Harbor Advisors LLC now owns 2,315 shares of the insurance provider’s stock worth $214,000 after acquiring an additional 129 shares during the period. Avidian Wealth Enterprises LLC grew its position in Arch Capital Group by 4.5% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 3,083 shares of the insurance provider’s stock valued at $285,000 after acquiring an additional 132 shares in the last quarter. Finally, Dynasty Wealth Management LLC grew its position in Arch Capital Group by 2.0% in the fourth quarter. Dynasty Wealth Management LLC now owns 7,106 shares of the insurance provider’s stock valued at $656,000 after acquiring an additional 140 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ACGL shares. Royal Bank of Canada lowered their price target on shares of Arch Capital Group from $125.00 to $110.00 and set an “outperform” rating for the company in a report on Wednesday, February 12th. Morgan Stanley cut their price target on Arch Capital Group from $115.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. JMP Securities restated a “market outperform” rating and set a $125.00 price objective on shares of Arch Capital Group in a research note on Tuesday, February 11th. Jefferies Financial Group upped their target price on Arch Capital Group from $105.00 to $106.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Finally, UBS Group decreased their price target on shares of Arch Capital Group from $127.00 to $124.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Arch Capital Group has a consensus rating of “Moderate Buy” and an average target price of $114.88.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, insider Louis T. Petrillo sold 11,600 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $91.00, for a total value of $1,055,600.00. Following the sale, the insider now directly owns 140,023 shares in the company, valued at approximately $12,742,093. This trade represents a 7.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.20% of the company’s stock.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL opened at $92.46 on Wednesday. The company has a market cap of $34.74 billion, a PE ratio of 8.26, a P/E/G ratio of 2.31 and a beta of 0.36. Arch Capital Group Ltd. has a fifty-two week low of $82.49 and a fifty-two week high of $116.47. The firm has a 50-day simple moving average of $91.49 and a 200 day simple moving average of $96.23. The company has a quick ratio of 0.58, a current ratio of 0.54 and a debt-to-equity ratio of 0.15.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Monday, February 10th. The insurance provider reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.36. Arch Capital Group had a return on equity of 17.96% and a net margin of 24.73%. During the same period in the prior year, the company earned $2.45 earnings per share. On average, sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current 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.