Resona Asset Management Co. Ltd. Lowers Position in Arch Capital Group Ltd. $ACGL

Resona Asset Management Co. Ltd. reduced its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 4.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 146,785 shares of the insurance provider’s stock after selling 6,369 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Arch Capital Group were worth $14,090,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Daymark Wealth Partners LLC raised its position in Arch Capital Group by 3.4% in the 4th quarter. Daymark Wealth Partners LLC now owns 3,211 shares of the insurance provider’s stock valued at $308,000 after buying an additional 106 shares during the last quarter. Keel Point LLC raised its position in Arch Capital Group by 4.6% in the 3rd quarter. Keel Point LLC now owns 2,524 shares of the insurance provider’s stock valued at $229,000 after buying an additional 112 shares during the last quarter. Legacy Advisors LLC raised its position in Arch Capital Group by 1.2% in the 4th quarter. Legacy Advisors LLC now owns 9,551 shares of the insurance provider’s stock valued at $916,000 after buying an additional 112 shares during the last quarter. Compound Planning Inc. raised its position in Arch Capital Group by 5.0% in the 3rd quarter. Compound Planning Inc. now owns 2,644 shares of the insurance provider’s stock valued at $240,000 after buying an additional 127 shares during the last quarter. Finally, TD Waterhouse Canada Inc. raised its position in Arch Capital Group by 72.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 323 shares of the insurance provider’s stock valued at $31,000 after buying an additional 136 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Stock Performance

Shares of ACGL opened at $96.84 on Thursday. The company has a market cap of $33.83 billion, a PE ratio of 7.44, a price-to-earnings-growth ratio of 5.31 and a beta of 0.35. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average price of $95.37 and a 200-day moving average price of $94.89. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $103.39.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share (EPS) for the quarter. The firm had revenue of $4.52 billion during the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%. As a group, equities analysts forecast that Arch Capital Group Ltd. will post 9.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ACGL has been the subject of a number of analyst reports. Barclays increased their price target on Arch Capital Group from $104.00 to $106.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 8th. Mizuho decreased their target price on Arch Capital Group from $102.00 to $101.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 target price (up from $97.00) on shares of Arch Capital Group in a research report on Tuesday, February 17th. Citigroup raised their target price on Arch Capital Group from $120.00 to $122.50 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Wells Fargo & Company raised their target price on Arch Capital Group from $109.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $106.32.

Insider Transactions at Arch Capital Group

In related news, Director Brian S. Posner sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $17.11, for a total transaction of $51,330.00. Following the transaction, the director directly owned 2,000 shares of the company’s stock, valued at approximately $34,220. This trade represents a 60.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David Gansberg sold 5,907 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $96.37, for a total value of $569,257.59. Following the transaction, the insider directly owned 336,559 shares in the company, valued at approximately $32,434,190.83. This represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 32,837 shares of company stock valued at $2,766,946. 3.30% of the stock is currently owned by corporate insiders.

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.