New York State Common Retirement Fund Sells 176,956 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

New York State Common Retirement Fund decreased its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 37.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 292,410 shares of the insurance provider’s stock after selling 176,956 shares during the quarter. New York State Common Retirement Fund owned about 0.08% of Arch Capital Group worth $21,717,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Householder Group Estate & Retirement Specialist LLC bought a new stake in Arch Capital Group during the 4th quarter valued at approximately $27,000. Steward Financial Group LLC boosted its stake in Arch Capital Group by 180.7% during the 3rd quarter. Steward Financial Group LLC now owns 525 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 338 shares during the period. CVA Family Office LLC bought a new stake in Arch Capital Group during the 4th quarter valued at approximately $47,000. Covestor Ltd boosted its stake in Arch Capital Group by 342.9% during the 3rd quarter. Covestor Ltd now owns 899 shares of the insurance provider’s stock valued at $72,000 after purchasing an additional 696 shares during the period. Finally, Operose Advisors LLC bought a new stake in Arch Capital Group during the 3rd quarter valued at approximately $75,000. Institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Morgan Stanley upped their price target on Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Monday, April 15th. StockNews.com cut Arch Capital Group from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Evercore ISI upped their price target on Arch Capital Group from $92.00 to $100.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. UBS Group cut their price target on Arch Capital Group from $101.00 to $97.00 and set a “buy” rating for the company in a report on Wednesday, January 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $98.00 price target on shares of Arch Capital Group in a report on Friday, February 16th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.23.

Arch Capital Group Stock Down 2.3 %

NASDAQ ACGL opened at $90.90 on Friday. The firm has a market cap of $34.10 billion, a PE ratio of 7.82, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. Arch Capital Group Ltd. has a one year low of $69.05 and a one year high of $95.01. The stock’s 50 day simple moving average is $90.34 and its 200 day simple moving average is $84.42. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.57 and a quick ratio of 0.57.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Thursday, February 15th. The insurance provider reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.55. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates 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 period in the prior year, the company earned $2.14 EPS. As a group, sell-side analysts forecast that Arch Capital Group Ltd. will post 8.03 earnings per share for the current fiscal year.

Insider Buying and Selling

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

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.