IBM Retirement Fund cut its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 7.3% during the second quarter, Holdings Channel reports. The firm owned 11,586 shares of the company’s stock after selling 917 shares during the period. IBM Retirement Fund’s holdings in Arch Capital Group were worth $834,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ACGL. Aviva PLC increased its stake in shares of Arch Capital Group by 0.9% in the first quarter. Aviva PLC now owns 57,717 shares of the company’s stock worth $4,104,000 after buying an additional 536 shares during the period. Picton Mahoney Asset Management increased its stake in shares of Arch Capital Group by 1.2% in the first quarter. Picton Mahoney Asset Management now owns 392,930 shares of the company’s stock worth $27,939,000 after buying an additional 4,645 shares during the period. BlackRock Japan Co. Ltd increased its stake in shares of Arch Capital Group by 0.6% in the first quarter. BlackRock Japan Co. Ltd now owns 153,163 shares of the company’s stock worth $10,890,000 after buying an additional 902 shares during the period. BlackRock Fund Advisors increased its stake in shares of Arch Capital Group by 19.2% in the first quarter. BlackRock Fund Advisors now owns 2,827,534 shares of the company’s stock worth $201,038,000 after buying an additional 456,111 shares during the period. Finally, BlackRock Group LTD increased its stake in shares of Arch Capital Group by 1.2% in the first quarter. BlackRock Group LTD now owns 1,034,578 shares of the company’s stock worth $73,558,000 after buying an additional 12,336 shares during the period. 77.58% of the stock is currently owned by institutional investors and hedge funds.

Arch Capital Group Ltd. (NASDAQ:ACGL) traded down 0.98% during midday trading on Friday, reaching $79.95. 442,614 shares of the company traded hands. The firm has a market capitalization of $9.64 billion, a PE ratio of 20.67 and a beta of 0.57. The company’s 50-day moving average price is $77.61 and its 200 day moving average price is $72.31. Arch Capital Group Ltd. has a 12 month low of $59.83 and a 12 month high of $83.61.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.17. Arch Capital Group had a net margin of 12.27% and a return on equity of 8.32%. During the same period last year, the business posted $1.16 EPS. On average, equities analysts anticipate that Arch Capital Group Ltd. will post $4.32 earnings per share for the current year.

A number of analysts recently issued reports on ACGL shares. Barclays PLC downgraded shares of Arch Capital Group from an “overweight” rating to an “equal weight” rating and set a $85.00 price target on the stock. in a report on Thursday. Keefe, Bruyette & Woods increased their price target on shares of Arch Capital Group from $76.00 to $78.00 and gave the stock a “market perform” rating in a report on Friday, August 5th. Wells Fargo & Co. reissued a “hold” rating on shares of Arch Capital Group in a report on Wednesday, June 15th. MKM Partners increased their price target on shares of Arch Capital Group from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, August 30th. Finally, Deutsche Bank AG increased their price target on shares of Arch Capital Group from $72.00 to $74.00 and gave the stock a “hold” rating in a report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. Arch Capital Group has an average rating of “Hold” and an average price target of $80.36.

In related news, CFO Mark Donald Lyons sold 8,500 shares of Arch Capital Group stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $80.16, for a total value of $681,360.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Louis T. Petrillo sold 8,635 shares of Arch Capital Group stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $79.43, for a total transaction of $685,878.05. Following the completion of the transaction, the insider now owns 74,433 shares in the company, valued at $5,912,213.19. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by corporate insiders.

Arch Capital Group Company Profile

Arch Capital Group Ltd. writes insurance and reinsurance on worldwide basis. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The Company’s insurance, reinsurance and mortgage segments are underwriting segments. The insurance segment’s product lines include construction and national accounts; excess and surplus casualty; lenders products; professional lines; programs; property, energy, marine and aviation; travel, accident and health, and other, which includes alternative market risks and excess workers’ compensation.

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