OVERSEA CHINESE BANKING Corp Ltd Decreases Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

OVERSEA CHINESE BANKING Corp Ltd lessened its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 37.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,142 shares of the insurance provider’s stock after selling 4,317 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Arch Capital Group were worth $660,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Xponance Inc. raised its stake in Arch Capital Group by 7.5% in the 4th quarter. Xponance Inc. now owns 55,071 shares of the insurance provider’s stock worth $5,086,000 after acquiring an additional 3,841 shares during the last quarter. Intech Investment Management LLC raised its stake in Arch Capital Group by 198.7% in the 4th quarter. Intech Investment Management LLC now owns 529,510 shares of the insurance provider’s stock worth $48,900,000 after acquiring an additional 352,228 shares during the last quarter. Generali Asset Management SPA SGR purchased a new position in Arch Capital Group in the 4th quarter worth $1,484,000. William Blair Investment Management LLC raised its stake in Arch Capital Group by 33.7% in the 4th quarter. William Blair Investment Management LLC now owns 624,055 shares of the insurance provider’s stock worth $57,631,000 after acquiring an additional 157,197 shares during the last quarter. Finally, Curio Wealth LLC purchased a new position in Arch Capital Group in the 4th quarter worth $201,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Price Performance

NASDAQ:ACGL opened at $92.45 on Friday. Arch Capital Group Ltd. has a 52 week low of $87.42 and a 52 week high of $116.47. The company has a quick ratio of 0.58, a current ratio of 0.54 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $34.70 billion, a PE ratio of 8.25, a price-to-earnings-growth ratio of 2.31 and a beta of 0.62. The stock’s 50-day moving average price is $91.95 and its 200-day moving average price is $99.00.

Arch Capital Group (NASDAQ:ACGL) last posted 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 quarter in the previous year, the firm posted $2.45 EPS. As a group, equities analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Insider Activity

In other news, insider Louis T. Petrillo sold 11,600 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $91.00, for a total transaction of $1,055,600.00. Following the sale, the insider now directly owns 140,023 shares in the company, valued at $12,742,093. This trade represents a 7.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ACGL. Morgan Stanley reduced their target price on Arch Capital Group from $115.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Keefe, Bruyette & Woods reduced their target price on Arch Capital Group from $120.00 to $113.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. UBS Group reduced their target price on Arch Capital Group from $131.00 to $127.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. JPMorgan Chase & Co. cut their price target on Arch Capital Group from $110.00 to $106.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $125.00 price target on shares of Arch Capital Group in a research report on Tuesday, February 11th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $117.19.

Arch Capital Group Company 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.