Arch Capital Group Ltd. (NASDAQ:ACGL) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System trimmed its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 107,700 shares of the insurance provider’s stock after selling 600 shares during the quarter. State of Michigan Retirement System’s holdings in Arch Capital Group were worth $9,946,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of ACGL. Farther Finance Advisors LLC increased its stake in Arch Capital Group by 12.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 890 shares of the insurance provider’s stock valued at $100,000 after buying an additional 101 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in shares of Arch Capital Group by 1.3% in the third quarter. Harbor Capital Advisors Inc. now owns 8,878 shares of the insurance provider’s stock valued at $993,000 after acquiring an additional 116 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Arch Capital Group by 11.0% during the third quarter. Van ECK Associates Corp now owns 67,250 shares of the insurance provider’s stock valued at $7,196,000 after acquiring an additional 6,669 shares during the period. National Pension Service acquired a new position in shares of Arch Capital Group during the third quarter valued at approximately $64,271,000. Finally, QRG Capital Management Inc. raised its holdings in Arch Capital Group by 8.6% during the third quarter. QRG Capital Management Inc. now owns 37,825 shares of the insurance provider’s stock worth $4,232,000 after purchasing an additional 2,986 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL opened at $91.35 on Thursday. The company’s fifty day moving average is $92.02 and its two-hundred day moving average is $100.21. The company has a market cap of $34.29 billion, a P/E ratio of 8.16, a price-to-earnings-growth ratio of 2.31 and a beta of 0.62. Arch Capital Group Ltd. has a 12-month low of $86.84 and a 12-month high of $116.47. 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) last posted 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 business earned $2.45 EPS. Equities analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Barclays decreased their price target on Arch Capital Group from $120.00 to $100.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Morgan Stanley lowered their target price on Arch Capital Group from $115.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Royal Bank of Canada dropped their price target on shares of Arch Capital Group from $125.00 to $110.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 12th. Keefe, Bruyette & Woods reduced their price objective 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. Finally, UBS Group dropped their target price on shares of Arch Capital Group from $131.00 to $127.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.19.

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.