Intech Investment Management LLC Cuts Stock Holdings in Arch Capital Group Ltd. $ACGL

Intech Investment Management LLC lowered its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 44.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 295,931 shares of the insurance provider’s stock after selling 233,579 shares during the quarter. Intech Investment Management LLC’s holdings in Arch Capital Group were worth $28,463,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Capital A Wealth Management LLC bought a new position in shares of Arch Capital Group in the 4th quarter worth about $25,000. Bartlett & CO. Wealth Management LLC bought a new position in shares of Arch Capital Group in the 1st quarter worth about $27,000. Meeder Asset Management Inc. lifted its position in shares of Arch Capital Group by 116.3% in the 1st quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider’s stock worth $27,000 after buying an additional 150 shares during the last quarter. Wayfinding Financial LLC bought a new position in shares of Arch Capital Group in the 1st quarter worth about $31,000. Finally, Zions Bancorporation National Association UT bought a new position in shares of Arch Capital Group in the 1st quarter worth about $37,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling at Arch Capital Group

In related news, insider Maamoun Rajeh sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $94.15, for a total transaction of $941,500.00. Following the transaction, the insider directly 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 4.10% of the company’s stock.

Arch Capital Group Price Performance

Shares of ACGL opened at $89.61 on Wednesday. Arch Capital Group Ltd. has a 52-week low of $82.49 and a 52-week high of $116.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. The business’s 50 day moving average price is $89.66 and its two-hundred day moving average price is $91.34. The firm has a market cap of $33.44 billion, a PE ratio of 9.25, a price-to-earnings-growth ratio of 5.57 and a beta of 0.51.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.28. The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.29 billion. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%.During the same period in the prior year, the firm posted $2.57 EPS. On average, equities analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Keefe, Bruyette & Woods raised their price target on shares of Arch Capital Group from $102.00 to $103.00 and gave the stock a “market perform” rating in a report on Thursday, August 14th. Cowen restated a “buy” rating on shares of Arch Capital Group in a report on Monday, August 4th. Citigroup began coverage on shares of Arch Capital Group in a report on Wednesday, August 13th. They set a “buy” rating and a $113.00 price target for the company. Jefferies Financial Group cut shares of Arch Capital Group from a “buy” rating to a “hold” rating and reduced their target price for the company from $106.00 to $100.00 in a research note on Tuesday, June 10th. Finally, UBS Group reiterated a “buy” rating and issued a $118.00 target price (down from $124.00) on shares of Arch Capital Group in a research note on Monday, August 4th. Nine investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $111.27.

About Arch Capital Group

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.