Richard Bernstein Advisors LLC Sells 13,795 Shares of Arch Capital Group Ltd. $ACGL

Richard Bernstein Advisors LLC lowered its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 51.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,186 shares of the insurance provider’s stock after selling 13,795 shares during the quarter. Richard Bernstein Advisors LLC’s holdings in Arch Capital Group were worth $1,196,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ACGL. Bank of Montreal Can increased its position in Arch Capital Group by 25.3% in the 3rd quarter. Bank of Montreal Can now owns 581,126 shares of the insurance provider’s stock valued at $52,726,000 after buying an additional 117,193 shares in the last quarter. WINTON GROUP Ltd acquired a new position in shares of Arch Capital Group during the third quarter worth approximately $5,994,000. Private Advisor Group LLC raised its position in shares of Arch Capital Group by 19.5% during the third quarter. Private Advisor Group LLC now owns 13,239 shares of the insurance provider’s stock worth $1,201,000 after purchasing an additional 2,161 shares during the period. Vinva Investment Management Ltd raised its position in shares of Arch Capital Group by 19.6% during the third quarter. Vinva Investment Management Ltd now owns 67,006 shares of the insurance provider’s stock worth $6,019,000 after purchasing an additional 10,993 shares during the period. Finally, Natixis Advisors LLC lifted its holdings in shares of Arch Capital Group by 9.5% in the 3rd quarter. Natixis Advisors LLC now owns 1,951,019 shares of the insurance provider’s stock worth $177,016,000 after purchasing an additional 168,922 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on ACGL. Barclays set a $104.00 price target on shares of Arch Capital Group and gave the company an “equal weight” rating in a research note on Thursday, January 8th. Weiss Ratings raised shares of Arch Capital Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 4th. Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 target price (up from $97.00) on shares of Arch Capital Group in a report on Tuesday, February 17th. Wells Fargo & Company raised their price target on shares of Arch Capital Group from $106.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday, February 11th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $93.00 price target (up from $84.00) on shares of Arch Capital Group in a research note on Wednesday, January 7th. Nine equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $109.20.

Arch Capital Group Stock Up 0.6%

Arch Capital Group stock opened at $96.19 on Wednesday. Arch Capital Group Ltd. has a 1-year low of $82.44 and a 1-year high of $103.39. The firm has a 50 day simple moving average of $96.27 and a 200 day simple moving average of $92.98. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $34.22 billion, a price-to-earnings ratio of 8.28, a P/E/G ratio of 3.84 and a beta of 0.40.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Monday, February 9th. The insurance provider reported $2.98 EPS for the quarter, beating the consensus estimate of $2.34 by $0.64. Arch Capital Group had a net margin of 22.07% and a return on equity of 16.73%. The firm had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same period last year, the firm earned $2.26 EPS. On average, analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Insider Buying and Selling

In other Arch Capital Group news, insider John M. Pasquesi sold 8,800 shares of the firm’s stock in a transaction dated 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 directly owned 289,556 shares in the company, 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 filing with the SEC, which is available at this link. Also, insider Maamoun Rajeh sold 47,430 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $96.12, for a total value of $4,558,971.60. Following the completion of the transaction, the insider owned 433,589 shares of the company’s stock, valued at approximately $41,676,574.68. The trade was a 9.86% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 260,096 shares of company stock valued at $24,530,685. Insiders own 4.10% of the company’s stock.

Arch Capital Group Company Profile

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.