TD Asset Management Inc Lowers Stock Holdings in Arch Capital Group Ltd. $ACGL

TD Asset Management Inc cut its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 9.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 258,565 shares of the insurance provider’s stock after selling 25,559 shares during the quarter. TD Asset Management Inc’s holdings in Arch Capital Group were worth $24,802,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Arch Capital Group in the 4th quarter valued at about $463,208,000. First Trust Advisors LP raised its holdings in Arch Capital Group by 409.5% during the third quarter. First Trust Advisors LP now owns 2,835,648 shares of the insurance provider’s stock worth $257,278,000 after purchasing an additional 2,279,147 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Arch Capital Group by 289.1% in the second quarter. Ameriprise Financial Inc. now owns 1,368,648 shares of the insurance provider’s stock worth $124,615,000 after acquiring an additional 1,016,919 shares during the last quarter. Two Sigma Investments LP raised its holdings in shares of Arch Capital Group by 112.4% in the third quarter. Two Sigma Investments LP now owns 1,895,222 shares of the insurance provider’s stock worth $171,953,000 after acquiring an additional 1,003,004 shares during the last quarter. Finally, UBS Group AG raised its holdings in shares of Arch Capital Group by 56.4% in the third quarter. UBS Group AG now owns 2,738,518 shares of the insurance provider’s stock worth $248,466,000 after acquiring an additional 987,398 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling

In other news, insider David Gansberg sold 5,907 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $96.37, for a total value of $569,257.59. Following the completion of the sale, the insider owned 336,559 shares of the company’s stock, valued at $32,434,190.83. This represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian S. Posner sold 3,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total value of $58,980.00. The SEC filing for this sale provides additional information. Insiders sold 35,837 shares of company stock worth $2,825,926 over the last three months. 3.30% of the stock is currently owned by corporate insiders.

Arch Capital Group Price Performance

ACGL stock opened at $91.19 on Monday. The stock has a 50-day moving average price of $94.86 and a two-hundred day moving average price of $95.06. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $103.39. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.15. The company has a market cap of $31.86 billion, a PE ratio of 7.00, a price-to-earnings-growth ratio of 5.01 and a beta of 0.32.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share (EPS) for the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%.The firm had revenue of $4.52 billion during the quarter. As a group, research analysts predict that Arch Capital Group Ltd. will post 9.29 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ACGL. Citigroup boosted their price target on Arch Capital Group from $120.00 to $122.50 and gave the stock a “buy” rating in a report on Thursday, April 30th. Morgan Stanley set a $105.00 price target on Arch Capital Group in a report on Friday, May 1st. Barclays boosted their price target on Arch Capital Group from $104.00 to $106.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 8th. UBS Group reissued a “buy” rating and issued a $114.00 price target (up from $113.00) on shares of Arch Capital Group in a report on Tuesday, February 17th. Finally, Keefe, Bruyette & Woods lowered their price objective on Arch Capital Group from $105.00 to $102.00 and set a “market perform” rating for the company in a research report on Tuesday, May 5th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $106.32.

Arch Capital Group 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.