Retirement Systems of Alabama Has $7.19 Million Position in Arch Capital Group Ltd. $ACGL

Retirement Systems of Alabama lessened its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 77.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,289 shares of the insurance provider’s stock after selling 266,399 shares during the quarter. Retirement Systems of Alabama’s holdings in Arch Capital Group were worth $7,194,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Arch Capital Group during the 2nd quarter valued at about $441,551,000. Ameriprise Financial Inc. boosted its holdings in Arch Capital Group by 289.1% during the second quarter. Ameriprise Financial Inc. now owns 1,368,648 shares of the insurance provider’s stock valued at $124,615,000 after purchasing an additional 1,016,919 shares in the last quarter. Champlain Investment Partners LLC boosted its holdings in Arch Capital Group by 109.3% during the second quarter. Champlain Investment Partners LLC now owns 1,045,262 shares of the insurance provider’s stock valued at $95,171,000 after purchasing an additional 545,777 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Arch Capital Group by 99.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,029,515 shares of the insurance provider’s stock valued at $93,408,000 after purchasing an additional 512,879 shares during the period. Finally, Worldquant Millennium Advisors LLC raised its holdings in shares of Arch Capital Group by 249.7% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 707,039 shares of the insurance provider’s stock worth $64,376,000 after buying an additional 504,880 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on ACGL shares. Morgan Stanley set a $125.00 price target on Arch Capital Group in a research note on Friday, January 16th. Roth Mkm set a $110.00 price objective on Arch Capital Group and gave the company a “buy” rating in a report on Tuesday, December 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $97.00 target price (up previously from $93.00) on shares of Arch Capital Group in a report on Wednesday, January 14th. Wells Fargo & Company dropped their target price on shares of Arch Capital Group from $111.00 to $106.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $93.00 price target (up from $84.00) on shares of Arch Capital Group in a research report on Wednesday, January 7th. Eight investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $107.53.

Insider Activity at Arch Capital Group

In related news, insider John M. Pasquesi sold 8,800 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $94.17, for a total value of $828,696.00. Following the completion of the sale, the insider owned 289,556 shares of the company’s stock, valued at $27,267,488.52. This trade represents a 2.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Francois Morin sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $94.62, for a total transaction of $756,960.00. Following the completion of the transaction, the chief financial officer owned 266,681 shares of the company’s stock, valued at $25,233,356.22. This trade represents a 2.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 220,666 shares of company stock worth $20,728,673 over the last three months. 4.20% of the stock is owned by insiders.

Arch Capital Group Stock Up 1.6%

Shares of NASDAQ ACGL opened at $95.72 on Friday. The firm’s 50-day simple moving average is $93.88 and its 200 day simple moving average is $91.11. The company has a market cap of $34.71 billion, a price-to-earnings ratio of 8.95, a price-to-earnings-growth ratio of 1.98 and a beta of 0.45. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.13. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $97.60.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.77 earnings per share for the quarter, beating the consensus estimate of $1.76 by $1.01. Arch Capital Group had a net margin of 20.96% and a return on equity of 16.38%. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter last year, the company posted $1.99 EPS. On average, research analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal 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.