Arch Capital Group Ltd. (ACGL) Stake Cut by Teacher Retirement System of Texas

Teacher Retirement System of Texas reduced its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 86.7% during the first quarter, Holdings Channel reports. The firm owned 4,326 shares of the insurance provider’s stock after selling 28,163 shares during the period. Teacher Retirement System of Texas’ holdings in Arch Capital Group were worth $410,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of ACGL. Guggenheim Capital LLC raised its position in Arch Capital Group by 9.9% in the fourth quarter. Guggenheim Capital LLC now owns 33,915 shares of the insurance provider’s stock valued at $2,927,000 after buying an additional 3,049 shares during the period. Legal & General Group Plc raised its position in Arch Capital Group by 7.7% in the first quarter. Legal & General Group Plc now owns 677,060 shares of the insurance provider’s stock valued at $64,162,000 after buying an additional 48,635 shares during the period. Commerzbank Aktiengesellschaft FI raised its position in Arch Capital Group by 151.7% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 11,604 shares of the insurance provider’s stock valued at $1,100,000 after buying an additional 6,994 shares during the period. Norges Bank acquired a new position in Arch Capital Group during the fourth quarter valued at $107,240,000. Finally, Eagle Asset Management Inc. raised its position in Arch Capital Group by 87.0% in the first quarter. Eagle Asset Management Inc. now owns 114,756 shares of the insurance provider’s stock valued at $9,383,000 after buying an additional 53,384 shares during the period. 77.59% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Arch Capital Group (NASDAQ:ACGL)

Shares of Arch Capital Group Ltd. (NASDAQ:ACGL) traded up 0.07% during mid-day trading on Tuesday, reaching $94.77. The company had a trading volume of 155,874 shares. The firm has a 50-day moving average of $95.57 and a 200-day moving average of $92.36. The company has a market capitalization of $12.70 billion, a P/E ratio of 16.06 and a beta of 0.66. Arch Capital Group Ltd. has a 12-month low of $67.50 and a 12-month high of $99.21.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, April 25th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.09. Arch Capital Group had a net margin of 16.92% and a return on equity of 8.85%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the firm earned $1.20 earnings per share. On average, equities analysts anticipate that Arch Capital Group Ltd. will post $5.42 earnings per share for the current fiscal year.

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ACGL has been the subject of several research analyst reports. Wells Fargo & Co reissued a “hold” rating on shares of Arch Capital Group in a research report on Wednesday, June 14th. BMO Capital Markets lifted their price objective on Arch Capital Group to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 28th. Keefe, Bruyette & Woods set a $95.00 price objective on Arch Capital Group and gave the stock a “hold” rating in a research report on Thursday, April 6th. Deutsche Bank AG lifted their price objective on Arch Capital Group from $78.00 to $87.00 and gave the stock a “hold” rating in a research report on Thursday, March 30th. Finally, BidaskClub lowered Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Arch Capital Group has a consensus rating of “Hold” and a consensus price target of $91.50.

In related news, Director John D. Vollaro sold 10,000 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $97.31, for a total value of $973,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Donald Lyons sold 8,266 shares of the stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $93.53, for a total transaction of $773,118.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 166,700 shares of company stock valued at $15,923,004. 6.60% of the stock is owned by insiders.

Arch Capital Group Company Profile

Arch Capital Group Ltd. provides insurance, reinsurance and mortgage insurance. The Company provides a range of property, casualty and mortgage insurance and reinsurance lines. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The insurance segment’s product lines include construction and national accounts; excess and surplus casualty; lenders products; professional lines; programs; property, energy, marine and aviation; travel, accident and health, and other.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:ACGL”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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