Kentucky Retirement Systems Insurance Trust Fund Reduces Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Kentucky Retirement Systems Insurance Trust Fund lessened its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 7.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,243 shares of the insurance provider’s stock after selling 1,052 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Arch Capital Group were worth $1,132,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Wedge Capital Management L L P NC grew its holdings in Arch Capital Group by 28.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 205,698 shares of the insurance provider’s stock worth $15,277,000 after acquiring an additional 46,089 shares during the period. Asset Management One Co. Ltd. grew its holdings in Arch Capital Group by 31.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 201,790 shares of the insurance provider’s stock worth $14,945,000 after acquiring an additional 48,587 shares during the period. Janney Montgomery Scott LLC grew its holdings in Arch Capital Group by 19.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 89,148 shares of the insurance provider’s stock worth $6,621,000 after acquiring an additional 14,233 shares during the period. Gladstone Capital Management LLP grew its holdings in Arch Capital Group by 52.8% during the fourth quarter. Gladstone Capital Management LLP now owns 1,385,307 shares of the insurance provider’s stock worth $102,887,000 after acquiring an additional 478,570 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in Arch Capital Group by 61.6% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,191,282 shares of the insurance provider’s stock worth $237,017,000 after acquiring an additional 1,216,080 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Price Performance

Shares of NASDAQ ACGL traded up $0.33 during midday trading on Monday, hitting $97.24. The stock had a trading volume of 241,225 shares, compared to its average volume of 1,657,521. The company has a market capitalization of $36.51 billion, a PE ratio of 7.65, a P/E/G ratio of 1.61 and a beta of 0.58. The stock has a 50 day simple moving average of $99.59 and a 200-day simple moving average of $92.64. Arch Capital Group Ltd. has a 1 year low of $72.85 and a 1 year high of $103.79. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.17.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.39. Arch Capital Group had a return on equity of 21.85% and a net margin of 33.65%. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter last year, the business posted $1.73 earnings per share. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, sell-side analysts expect that Arch Capital Group Ltd. will post 8.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ACGL has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on Arch Capital Group from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Bank of America dropped their target price on Arch Capital Group from $119.00 to $118.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Roth Mkm reiterated a “buy” rating and set a $110.00 price target on shares of Arch Capital Group in a research report on Tuesday, April 30th. Evercore ISI increased their price target on Arch Capital Group from $98.00 to $100.00 and gave the stock an “in-line” rating in a research report on Tuesday, April 30th. Finally, Wells Fargo & Company increased their price target on Arch Capital Group from $109.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Arch Capital Group has an average rating of “Moderate Buy” and an average target price of $102.87.

Insider Activity at Arch Capital Group

In related news, CEO David Gansberg sold 10,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $96.64, for a total value of $966,400.00. Following the completion of the sale, the chief executive officer now owns 228,035 shares of the company’s stock, valued at $22,037,302.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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.