Raymond James & Associates Reduces Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Raymond James & Associates trimmed its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 29.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 181,230 shares of the insurance provider’s stock after selling 76,372 shares during the quarter. Raymond James & Associates’ holdings in Arch Capital Group were worth $13,460,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Arch Capital Group by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 34,253,429 shares of the insurance provider’s stock valued at $1,658,551,000 after acquiring an additional 846,179 shares during the period. BlackRock Inc. lifted its position in Arch Capital Group by 2.1% during the first quarter. BlackRock Inc. now owns 26,059,274 shares of the insurance provider’s stock valued at $1,768,643,000 after purchasing an additional 534,690 shares during the period. WCM Investment Management LLC boosted its holdings in Arch Capital Group by 16.0% in the third quarter. WCM Investment Management LLC now owns 15,956,744 shares of the insurance provider’s stock valued at $1,275,901,000 after purchasing an additional 2,204,338 shares during the last quarter. State Street Corp boosted its holdings in Arch Capital Group by 2.9% in the second quarter. State Street Corp now owns 15,144,346 shares of the insurance provider’s stock valued at $1,133,554,000 after purchasing an additional 423,093 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Arch Capital Group by 1.6% during the 1st quarter. Geode Capital Management LLC now owns 7,902,500 shares of the insurance provider’s stock worth $535,165,000 after purchasing an additional 121,919 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling at Arch Capital Group

In other news, CEO Maamoun Rajeh sold 50,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total transaction of $4,374,000.00. Following the completion of the sale, the chief executive officer now owns 336,170 shares of the company’s stock, valued at $29,408,151.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Nicolas Papadopoulo sold 60,000 shares of Arch Capital Group stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $87.52, for a total transaction of $5,251,200.00. Following the transaction, the insider now owns 651,931 shares in the company, valued at $57,057,001.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Maamoun Rajeh sold 50,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $87.48, for a total value of $4,374,000.00. Following the transaction, the chief executive officer now directly owns 336,170 shares in the company, valued at approximately $29,408,151.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 135,689 shares of company stock worth $11,872,217. Corporate insiders own 4.20% of the company’s stock.

Arch Capital Group Stock Up 0.8 %

ACGL opened at $92.23 on Thursday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.17. Arch Capital Group Ltd. has a twelve month low of $67.18 and a twelve month high of $93.12. The company has a market cap of $34.51 billion, a PE ratio of 7.94, a price-to-earnings-growth ratio of 1.15 and a beta of 0.57. The company has a 50-day moving average price of $87.24 and a 200 day moving average price of $83.09.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Thursday, February 15th. The insurance provider reported $2.49 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.55. The business had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.67 billion. Arch Capital Group had a return on equity of 21.94% and a net margin of 32.59%. During the same quarter in the prior year, the firm earned $2.14 earnings per share. Sell-side analysts expect that Arch Capital Group Ltd. will post 8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ACGL has been the topic of a number of recent research reports. Royal Bank of Canada restated an “outperform” rating and issued a $98.00 target price on shares of Arch Capital Group in a research note on Friday, February 16th. TD Cowen began coverage on shares of Arch Capital Group in a research note on Wednesday, January 10th. They set an “outperform” rating and a $96.00 price objective on the stock. Citigroup decreased their target price on shares of Arch Capital Group from $91.00 to $89.00 and set a “neutral” rating for the company in a research note on Monday, January 22nd. Evercore ISI raised their price target on shares of Arch Capital Group from $85.00 to $92.00 and gave the company an “in-line” rating in a research report on Thursday, February 15th. Finally, Wells Fargo & Company upped their price objective on shares of Arch Capital Group from $98.00 to $104.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Arch Capital Group currently has a consensus rating of “Moderate Buy” and an average price target of $94.46.

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.