Arch Capital Group Ltd. $ACGL Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. cut its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 47.5% in the first quarter, Holdings Channel.com reports. The firm owned 22,373 shares of the insurance provider’s stock after selling 20,224 shares during the quarter. Pacer Advisors Inc.’s holdings in Arch Capital Group were worth $2,148,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Rathbones Group PLC lifted its position in Arch Capital Group by 135.9% during the first quarter. Rathbones Group PLC now owns 43,324 shares of the insurance provider’s stock worth $4,159,000 after buying an additional 24,955 shares in the last quarter. Parallel Advisors LLC grew its holdings in Arch Capital Group by 12.1% in the 1st quarter. Parallel Advisors LLC now owns 4,146 shares of the insurance provider’s stock valued at $398,000 after buying an additional 446 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in Arch Capital Group by 2.8% in the 1st quarter. Glenmede Trust Co. NA now owns 21,710 shares of the insurance provider’s stock valued at $2,084,000 after buying an additional 586 shares in the last quarter. Groupama Asset Managment increased its stake in shares of Arch Capital Group by 3.4% in the 1st quarter. Groupama Asset Managment now owns 5,744 shares of the insurance provider’s stock worth $551,000 after acquiring an additional 191 shares during the last quarter. Finally, Wellington Grp LLC increased its stake in shares of Arch Capital Group by 2.7% in the 1st quarter. Wellington Grp LLC now owns 14,003 shares of the insurance provider’s stock worth $1,344,000 after acquiring an additional 365 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Stock Performance

Shares of Arch Capital Group stock opened at $98.48 on Friday. The firm has a market cap of $33.60 billion, a PE ratio of 7.70, a price-to-earnings-growth ratio of 10.46 and a beta of 0.31. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 0.23. Arch Capital Group Ltd. has a 52 week low of $82.44 and a 52 week high of $107.08. The business’s fifty day simple moving average is $97.19 and its 200-day simple moving average is $96.39.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.09. The firm had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.36 billion. Arch Capital Group had a return on equity of 17.06% and a net margin of 24.40%.During the same period last year, the company earned $2.58 EPS. Equities analysts forecast that Arch Capital Group Ltd. will post 9.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ACGL. JPMorgan Chase & Co. boosted their price target on shares of Arch Capital Group from $110.00 to $116.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Mizuho lifted their target price on shares of Arch Capital Group from $101.00 to $104.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Weiss Ratings downgraded shares of Arch Capital Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Citigroup reiterated a “market outperform” rating on shares of Arch Capital Group in a report on Wednesday, July 29th. Finally, Cantor Fitzgerald increased their price target on shares of Arch Capital Group from $102.00 to $110.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Seven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $110.96.

Insiders Place Their Bets

In other Arch Capital Group news, Director Brian S. Posner sold 3,000 shares of Arch Capital Group stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total transaction of $58,980.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.30% of the stock is currently owned by company insiders.

About Arch Capital Group

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.