Intech Investment Management LLC Sells 98,744 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Intech Investment Management LLC cut its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 31.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 218,067 shares of the insurance provider's stock after selling 98,744 shares during the quarter. Intech Investment Management LLC owned approximately 0.06% of Arch Capital Group worth $22,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. UMB Bank n.a. purchased a new stake in Arch Capital Group in the second quarter worth about $30,000. Baldwin Brothers LLC MA lifted its holdings in Arch Capital Group by 50.7% in the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider's stock worth $31,000 after buying an additional 104 shares during the period. Richardson Financial Services Inc. purchased a new stake in Arch Capital Group in the fourth quarter worth about $33,000. Rothschild Investment LLC purchased a new stake in Arch Capital Group in the second quarter worth about $35,000. Finally, LRI Investments LLC purchased a new stake in Arch Capital Group in the first quarter worth about $38,000. 89.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of Arch Capital Group stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the sale, the chief financial officer now owns 221,779 shares of the company's stock, valued at approximately $22,723,476.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.20% of the stock is currently owned by insiders.

Arch Capital Group Stock Up 1.6 %

NASDAQ ACGL traded up $1.76 during mid-day trading on Friday, reaching $113.18. The stock had a trading volume of 1,896,920 shares, compared to its average volume of 1,610,234. Arch Capital Group Ltd. has a 1 year low of $72.85 and a 1 year high of $114.69. The stock has a market cap of $42.56 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 2.07 and a beta of 0.60. The company has a fifty day moving average price of $103.82 and a 200 day moving average price of $98.71. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.60.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, topping analysts' consensus estimates of $2.21 by $0.36. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The business had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the firm posted $1.92 EPS. The firm's revenue was up 10.3% on a year-over-year basis. On average, research analysts expect that Arch Capital Group Ltd. will post 9.01 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on ACGL shares. Citigroup raised their price objective on shares of Arch Capital Group from $105.00 to $114.00 and gave the stock a "neutral" rating in a report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Arch Capital Group from $110.00 to $120.00 and gave the company a "buy" rating in a report on Monday, July 1st. Barclays started coverage on shares of Arch Capital Group in a report on Wednesday, September 4th. They set an "equal weight" rating and a $120.00 target price for the company. StockNews.com lowered shares of Arch Capital Group from a "buy" rating to a "hold" rating in a report on Wednesday, July 31st. Finally, JMP Securities lifted their target price on shares of Arch Capital Group from $110.00 to $115.00 and gave the company a "market outperform" rating in a report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $113.73.

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.