The Manufacturers Life Insurance Company Sells 147,029 Shares of Arch Capital Group Ltd. $ACGL

The Manufacturers Life Insurance Company decreased its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 25.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 427,278 shares of the insurance provider’s stock after selling 147,029 shares during the period. The Manufacturers Life Insurance Company’s holdings in Arch Capital Group were worth $41,014,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quantinno Capital Management LP lifted its stake in shares of Arch Capital Group by 33.5% during the 1st quarter. Quantinno Capital Management LP now owns 248,635 shares of the insurance provider’s stock valued at $23,866,000 after buying an additional 62,387 shares in the last quarter. Lazard Asset Management LLC grew its stake in Arch Capital Group by 213.6% in the 1st quarter. Lazard Asset Management LLC now owns 28,431 shares of the insurance provider’s stock valued at $2,729,000 after buying an additional 19,364 shares in the last quarter. Gateway Wealth Partners LLC bought a new stake in Arch Capital Group during the 1st quarter valued at $754,000. Weiss Asset Management LP raised its holdings in Arch Capital Group by 88.5% during the 1st quarter. Weiss Asset Management LP now owns 42,300 shares of the insurance provider’s stock valued at $4,060,000 after acquiring an additional 19,860 shares during the period. Finally, Delta Global Management LP lifted its position in shares of Arch Capital Group by 78.9% during the first quarter. Delta Global Management LP now owns 13,552 shares of the insurance provider’s stock worth $1,301,000 after acquiring an additional 5,975 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Arch Capital Group Stock Performance

Shares of ACGL opened at $101.14 on Friday. The company has a market cap of $35.34 billion, a PE ratio of 7.91, a price-to-earnings-growth ratio of 5.20 and a beta of 0.31. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average price of $96.42 and a 200-day moving average price of $96.07. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $107.08.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.09. Arch Capital Group had a net margin of 24.40% and a return on equity of 17.06%. The company had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $4.36 billion. During the same period in the prior year, the business earned $2.58 earnings per share. As a group, equities analysts forecast that Arch Capital Group Ltd. will post 9.35 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Brian S. Posner sold 3,000 shares of Arch Capital Group stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total transaction of $58,980.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. UBS Group reaffirmed a “buy” rating and issued a $120.00 price target (up from $114.00) on shares of Arch Capital Group in a report on Wednesday, July 8th. Mizuho increased their price objective on Arch Capital Group from $101.00 to $104.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Morgan Stanley lifted their target price on Arch Capital Group from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Keefe, Bruyette & Woods decreased their price target on Arch Capital Group from $102.00 to $99.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 8th. Finally, Atlantic Securities set a $126.00 price objective on shares of Arch Capital Group in a research report on Wednesday, July 15th. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $110.39.

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.