Vestcor Inc Cuts Stock Holdings in Arch Capital Group Ltd. $ACGL

Vestcor Inc lowered its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 72.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,630 shares of the insurance provider’s stock after selling 29,878 shares during the period. Vestcor Inc’s holdings in Arch Capital Group were worth $1,116,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Parallel Advisors LLC raised its stake in Arch Capital Group by 22.2% during the fourth quarter. Parallel Advisors LLC now owns 3,700 shares of the insurance provider’s stock worth $355,000 after purchasing an additional 673 shares during the period. Vise Technologies Inc. raised its stake in Arch Capital Group by 52.3% during the fourth quarter. Vise Technologies Inc. now owns 9,839 shares of the insurance provider’s stock worth $944,000 after purchasing an additional 3,379 shares during the period. Daiwa Securities Group Inc. raised its stake in Arch Capital Group by 1.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 67,109 shares of the insurance provider’s stock worth $6,437,000 after purchasing an additional 871 shares during the period. State of Wyoming raised its stake in Arch Capital Group by 16.0% during the fourth quarter. State of Wyoming now owns 4,496 shares of the insurance provider’s stock worth $431,000 after purchasing an additional 621 shares during the period. Finally, Cibc World Market Inc. raised its stake in Arch Capital Group by 0.4% during the fourth quarter. Cibc World Market Inc. now owns 41,757 shares of the insurance provider’s stock worth $4,005,000 after purchasing an additional 157 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Morgan Stanley set a $105.00 price target on shares of Arch Capital Group in a research note on Friday, May 1st. UBS Group reaffirmed a “buy” rating and set a $114.00 price target (up from $113.00) on shares of Arch Capital Group in a research note on Tuesday, February 17th. JPMorgan Chase & Co. cut their price target on shares of Arch Capital Group from $117.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. Barclays raised their target price on shares of Arch Capital Group from $104.00 to $106.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Finally, Royal Bank Of Canada raised their target price on shares of Arch Capital Group from $108.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $106.32.

Insiders Place Their Bets

In other news, Director Daniel Joseph Houston purchased 5,300 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was acquired at an average cost of $94.08 per share, with a total value of $498,624.00. Following the acquisition, the director owned 9,915 shares in the company, valued at approximately $932,803.20. This trade represents a 114.84% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Brian S. Posner sold 3,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total transaction of $58,980.00. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 8,000 shares of company stock valued at $144,590. Company insiders own 3.30% of the company’s stock.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $89.61 on Tuesday. The company’s fifty day simple moving average is $94.77 and its 200-day simple moving average is $95.05. Arch Capital Group Ltd. has a 52 week low of $82.44 and a 52 week high of $103.39. 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 company has a market cap of $31.31 billion, a PE ratio of 6.88, a P/E/G ratio of 5.01 and a beta of 0.32.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Tuesday, March 31st. The insurance provider reported $2.50 EPS for the quarter. The business had revenue of $4.52 billion for the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. As a group, equities research analysts anticipate that Arch Capital Group Ltd. will post 9.29 EPS for the current year.

About Arch Capital Group

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.