Cibc World Markets Corp Sells 13,477 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Cibc World Markets Corp reduced its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 18.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 59,165 shares of the insurance provider's stock after selling 13,477 shares during the quarter. Cibc World Markets Corp's holdings in Arch Capital Group were worth $5,464,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Brandes Investment Partners LP lifted its position in shares of Arch Capital Group by 109.7% during the 4th quarter. Brandes Investment Partners LP now owns 1,083,395 shares of the insurance provider's stock valued at $100,052,000 after buying an additional 566,751 shares in the last quarter. Madison Investment Advisors LLC purchased a new position in Arch Capital Group during the fourth quarter valued at approximately $410,010,000. Impact Capital Partners LLC bought a new position in shares of Arch Capital Group in the fourth quarter worth approximately $232,000. HBK Sorce Advisory LLC increased its stake in shares of Arch Capital Group by 5.7% in the fourth quarter. HBK Sorce Advisory LLC now owns 2,373 shares of the insurance provider's stock worth $219,000 after purchasing an additional 127 shares in the last quarter. Finally, Erste Asset Management GmbH raised its position in shares of Arch Capital Group by 6.1% during the 4th quarter. Erste Asset Management GmbH now owns 780,722 shares of the insurance provider's stock valued at $71,984,000 after purchasing an additional 44,692 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In other news, insider Louis T. Petrillo sold 11,600 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $91.00, for a total transaction of $1,055,600.00. Following the transaction, the insider now owns 140,023 shares of the company's stock, valued at approximately $12,742,093. This represents a 7.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.20% of the company's stock.

Arch Capital Group Trading Up 2.2 %

NASDAQ ACGL traded up $2.03 during trading hours on Monday, hitting $94.01. 1,726,087 shares of the company were exchanged, compared to its average volume of 1,656,917. The stock has a market cap of $35.29 billion, a PE ratio of 8.39, a price-to-earnings-growth ratio of 2.31 and a beta of 0.62. Arch Capital Group Ltd. has a 52 week low of $87.42 and a 52 week high of $116.47. The stock has a 50-day moving average price of $91.99 and a 200 day moving average price of $98.65. The company has a quick ratio of 0.58, a current ratio of 0.54 and a debt-to-equity ratio of 0.15.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The insurance provider reported $2.26 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.36. Arch Capital Group had a return on equity of 17.96% and a net margin of 24.73%. During the same quarter last year, the firm posted $2.45 EPS. Analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ACGL shares. UBS Group dropped their target price on shares of Arch Capital Group from $131.00 to $127.00 and set a "buy" rating for the company in a report on Tuesday, February 18th. JPMorgan Chase & Co. decreased their target price on Arch Capital Group from $110.00 to $106.00 and set a "neutral" rating on the stock in a research note on Friday, January 3rd. Keefe, Bruyette & Woods dropped their price target on Arch Capital Group from $120.00 to $113.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. JMP Securities reiterated a "market outperform" rating and set a $125.00 price objective on shares of Arch Capital Group in a research report on Tuesday, February 11th. Finally, Morgan Stanley cut their target price on shares of Arch Capital Group from $115.00 to $110.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $117.19.

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.