OVERSEA CHINESE BANKING Corp Ltd Lowers Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

OVERSEA CHINESE BANKING Corp Ltd decreased its position in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 37.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,142 shares of the insurance provider's stock after selling 4,317 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Arch Capital Group were worth $660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ACGL. Quantbot Technologies LP acquired a new stake in shares of Arch Capital Group during the third quarter worth about $25,000. Cullen Frost Bankers Inc. purchased a new position in Arch Capital Group during the 4th quarter worth approximately $37,000. Golden State Wealth Management LLC acquired a new stake in Arch Capital Group during the 4th quarter valued at approximately $42,000. Y.D. More Investments Ltd boosted its holdings in shares of Arch Capital Group by 125.6% in the 4th quarter. Y.D. More Investments Ltd now owns 467 shares of the insurance provider's stock valued at $43,000 after acquiring an additional 260 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in shares of Arch Capital Group by 97.0% in the fourth quarter. UMB Bank n.a. now owns 841 shares of the insurance provider's stock worth $78,000 after acquiring an additional 414 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Insider Buying and Selling

In other news, insider Louis T. Petrillo sold 11,600 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $91.00, for a total value of $1,055,600.00. Following the completion of the sale, the insider now owns 140,023 shares of the company's stock, valued at $12,742,093. This represents a 7.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 4.20% of the stock is owned by company insiders.

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Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut their price target on Arch Capital Group from $110.00 to $106.00 and set a "neutral" rating on the stock in a research report on Friday, January 3rd. Royal Bank of Canada dropped their target price on Arch Capital Group from $125.00 to $110.00 and set an "outperform" rating on the stock in a report on Wednesday, February 12th. UBS Group decreased their price target on Arch Capital Group from $131.00 to $127.00 and set a "buy" rating for the company in a report on Tuesday, February 18th. Wells Fargo & Company lowered their price objective on Arch Capital Group from $107.00 to $106.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 12th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Arch Capital Group from $120.00 to $113.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Arch Capital Group presently has a consensus rating of "Moderate Buy" and an average price target of $117.19.

Arch Capital Group Price Performance

ACGL stock traded up $0.57 during midday trading on Tuesday, reaching $94.58. The stock had a trading volume of 1,412,620 shares, compared to its average volume of 1,655,992. Arch Capital Group Ltd. has a 52-week low of $87.42 and a 52-week high of $116.47. The company has a current ratio of 0.54, a quick ratio of 0.58 and a debt-to-equity ratio of 0.15. The company's fifty day simple moving average is $92.05 and its 200 day simple moving average is $98.52. The company has a market cap of $35.50 billion, a price-to-earnings ratio of 8.44, a price-to-earnings-growth ratio of 2.31 and a beta of 0.62.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The insurance provider reported $2.26 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.36. Arch Capital Group had a net margin of 24.73% and a return on equity of 17.96%. During the same period in the prior year, the company earned $2.45 EPS. As a group, sell-side analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

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.