Renaissance Technologies LLC Reduces Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Renaissance Technologies LLC reduced its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 25.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,600 shares of the insurance provider's stock after selling 46,100 shares during the period. Renaissance Technologies LLC's holdings in Arch Capital Group were worth $12,707,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. purchased a new stake in shares of Arch Capital Group in the 4th quarter worth about $37,000. Golden State Wealth Management LLC bought a new stake in Arch Capital Group during the 4th quarter valued at about $42,000. Y.D. More Investments Ltd raised its holdings in 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 worth $43,000 after acquiring an additional 260 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Arch Capital Group by 97.0% during the fourth quarter. UMB Bank n.a. now owns 841 shares of the insurance provider's stock valued at $78,000 after purchasing an additional 414 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in Arch Capital Group by 47.0% in the 4th quarter. Larson Financial Group LLC now owns 910 shares of the insurance provider's stock worth $84,000 after buying an additional 291 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Insider Buying and Selling at Arch Capital Group

In related news, insider Louis T. Petrillo sold 11,600 shares of the stock in a transaction dated 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ACGL has been the subject of several recent research reports. Wells Fargo & Company cut their target price on shares of Arch Capital Group from $107.00 to $106.00 and set an "overweight" rating for the company in a research report on Wednesday, February 12th. Jefferies Financial Group increased their target price on shares of Arch Capital Group from $105.00 to $106.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Keefe, Bruyette & Woods dropped their price target on shares of Arch Capital Group from $120.00 to $113.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised their price objective on shares of Arch Capital Group from $106.00 to $107.00 and gave the company a "neutral" rating in a research report on Tuesday, April 8th. Finally, Royal Bank of Canada cut their price target on Arch Capital Group from $125.00 to $110.00 and set an "outperform" rating for the company in a research note on Wednesday, February 12th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Arch Capital Group has an average rating of "Moderate Buy" and a consensus price target of $114.88.

Arch Capital Group Price Performance

Shares of ACGL stock traded up $0.21 on Friday, reaching $92.59. 1,414,329 shares of the company were exchanged, compared to its average volume of 1,738,199. The business has a 50-day moving average price of $91.55 and a 200 day moving average price of $95.93. Arch Capital Group Ltd. has a 1 year low of $82.49 and a 1 year high of $116.47. The company has a market cap of $34.79 billion, a price-to-earnings ratio of 8.27, a P/E/G ratio of 2.31 and a beta of 0.36. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.58 and a current ratio of 0.54.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its earnings results on Monday, February 10th. The insurance provider reported $2.26 EPS for the quarter, beating analysts' consensus estimates 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 previous year, the business earned $2.45 earnings per share. Equities research analysts forecast 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.