National Bank of Canada FI Decreases Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

National Bank of Canada FI trimmed its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 52.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 267,097 shares of the insurance provider’s stock after selling 292,000 shares during the quarter. National Bank of Canada FI owned about 0.07% of Arch Capital Group worth $25,689,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ACGL. Advisory Services Network LLC purchased a new stake in shares of Arch Capital Group during the fourth quarter valued at about $537,000. Raymond James Financial Inc. purchased a new stake in shares of Arch Capital Group during the fourth quarter valued at about $41,876,000. Sterling Capital Management LLC lifted its position in shares of Arch Capital Group by 55.4% during the fourth quarter. Sterling Capital Management LLC now owns 21,493 shares of the insurance provider’s stock valued at $1,985,000 after buying an additional 7,665 shares during the last quarter. Townsquare Capital LLC lifted its position in shares of Arch Capital Group by 72.2% during the fourth quarter. Townsquare Capital LLC now owns 13,719 shares of the insurance provider’s stock valued at $1,267,000 after buying an additional 5,750 shares during the last quarter. Finally, Optimize Financial Inc purchased a new stake in shares of Arch Capital Group during the fourth quarter valued at about $280,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Stock Performance

ACGL opened at $88.83 on Monday. Arch Capital Group Ltd. has a 12-month low of $82.49 and a 12-month high of $116.47. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $33.15 billion, a PE ratio of 9.17, a P/E/G ratio of 5.47 and a beta of 0.49. The firm has a 50 day moving average of $89.84 and a two-hundred day moving average of $91.38.

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

Insider Buying and Selling

In other Arch Capital Group news, CFO Francois Morin sold 12,630 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $94.58, for a total value of $1,194,545.40. Following the sale, the chief financial officer owned 274,681 shares in the company, valued at approximately $25,979,328.98. This represents a 4.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on ACGL shares. Keefe, Bruyette & Woods increased their price target on shares of Arch Capital Group from $101.00 to $102.00 and gave the company a “market perform” rating in a research report on Tuesday, August 5th. Jefferies Financial Group lowered shares of Arch Capital Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $106.00 to $100.00 in a research report on Tuesday, June 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $125.00 price objective on shares of Arch Capital Group in a research report on Wednesday, April 30th. Wells Fargo & Company decreased their price objective on shares of Arch Capital Group from $110.00 to $107.00 and set an “overweight” rating for the company in a research report on Thursday, July 31st. Finally, Cowen reaffirmed a “buy” rating on shares of Arch Capital Group in a research report on Monday, August 4th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $113.07.

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.