Retirement Systems of Alabama Cuts Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

Retirement Systems of Alabama trimmed its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 4.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 381,608 shares of the insurance provider's stock after selling 17,276 shares during the quarter. Retirement Systems of Alabama owned approximately 0.10% of Arch Capital Group worth $38,500,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its stake in shares of Arch Capital Group by 19.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 89,148 shares of the insurance provider's stock worth $6,621,000 after purchasing an additional 14,233 shares in the last quarter. Gladstone Capital Management LLP raised its stake in shares of Arch Capital Group by 52.8% in the fourth quarter. Gladstone Capital Management LLP now owns 1,385,307 shares of the insurance provider's stock worth $102,887,000 after buying an additional 478,570 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Arch Capital Group by 61.6% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,191,282 shares of the insurance provider's stock valued at $237,017,000 after buying an additional 1,216,080 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Arch Capital Group by 5.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 431,105 shares of the insurance provider's stock valued at $39,851,000 after acquiring an additional 21,332 shares during the period. Finally, Alaska Permanent Fund Corp increased its holdings in Arch Capital Group by 42.2% in the 1st quarter. Alaska Permanent Fund Corp now owns 54,578 shares of the insurance provider's stock worth $5,045,000 after acquiring an additional 16,208 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Price Performance

ACGL stock traded up $2.51 during trading on Friday, hitting $109.02. 1,514,536 shares of the company's stock traded hands, compared to its average volume of 1,634,753. Arch Capital Group Ltd. has a 52 week low of $72.85 and a 52 week high of $109.14. The stock has a market capitalization of $40.94 billion, a price-to-earnings ratio of 8.60, a P/E/G ratio of 1.86 and a beta of 0.58. The business has a fifty day simple moving average of $99.20 and a 200 day simple moving average of $95.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.60 and a current ratio of 0.60.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.36. The firm had revenue of $3.78 billion for the quarter, compared to analysts' expectations of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The business's revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.92 EPS. As a group, research analysts expect that Arch Capital Group Ltd. will post 9 EPS for the current fiscal year.

Insider Activity

In other news, CFO Francois Morin sold 11,460 shares of the company's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the sale, the chief financial officer now directly owns 221,779 shares in the company, valued at approximately $22,723,476.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.20% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on ACGL shares. Keefe, Bruyette & Woods upped their price target on shares of Arch Capital Group from $120.00 to $121.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 7th. Bank of America cut their price target on Arch Capital Group from $119.00 to $118.00 and set a "buy" rating for the company in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft raised their price target on Arch Capital Group from $110.00 to $120.00 and gave the company a "buy" rating in a report on Monday, July 1st. JMP Securities upped their price objective on Arch Capital Group from $110.00 to $115.00 and gave the stock a "market outperform" rating in a research note on Wednesday, July 31st. Finally, Roth Mkm lifted their target price on Arch Capital Group from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Friday. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.50.

Arch Capital Group Company Profile

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.