Pacer Advisors Inc. Cuts Stock Holdings in Arch Capital Group Ltd. $ACGL

Pacer Advisors Inc. reduced its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 47.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,373 shares of the insurance provider’s stock after selling 20,224 shares during the period. Pacer Advisors Inc.’s holdings in Arch Capital Group were worth $2,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in ACGL. Rathbones Group PLC grew its position in Arch Capital Group by 135.9% during the first quarter. Rathbones Group PLC now owns 43,324 shares of the insurance provider’s stock valued at $4,159,000 after buying an additional 24,955 shares during the period. Parallel Advisors LLC raised its position in shares of Arch Capital Group by 12.1% in the first quarter. Parallel Advisors LLC now owns 4,146 shares of the insurance provider’s stock worth $398,000 after acquiring an additional 446 shares during the period. Glenmede Trust Co. NA boosted its stake in shares of Arch Capital Group by 2.8% during the 1st quarter. Glenmede Trust Co. NA now owns 21,710 shares of the insurance provider’s stock worth $2,084,000 after acquiring an additional 586 shares in the last quarter. Groupama Asset Managment grew its position in shares of Arch Capital Group by 3.4% during the 1st quarter. Groupama Asset Managment now owns 5,744 shares of the insurance provider’s stock valued at $551,000 after acquiring an additional 191 shares during the period. Finally, Wellington Grp LLC increased its stake in shares of Arch Capital Group by 2.7% in the 1st quarter. Wellington Grp LLC now owns 14,003 shares of the insurance provider’s stock valued at $1,344,000 after purchasing an additional 365 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Trading Down 0.8%

Shares of Arch Capital Group stock opened at $98.48 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 0.23. Arch Capital Group Ltd. has a twelve month low of $82.44 and a twelve month high of $107.08. The firm has a market capitalization of $33.60 billion, a PE ratio of 7.70, a P/E/G ratio of 10.46 and a beta of 0.31. The firm’s 50-day moving average price is $97.19 and its 200 day moving average price is $96.39.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.47 by $0.09. Arch Capital Group had a return on equity of 17.06% and a net margin of 24.40%.The company had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same period in the previous year, the business earned $2.58 EPS. On average, sell-side analysts predict that Arch Capital Group Ltd. will post 9.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Arch Capital Group from $110.00 to $116.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Royal Bank Of Canada restated an “outperform” rating and issued a $120.00 price objective (up from $115.00) on shares of Arch Capital Group in a research report on Thursday, July 30th. Wells Fargo & Company upped their target price on Arch Capital Group from $114.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Mizuho increased their target price on Arch Capital Group from $101.00 to $104.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Finally, Cantor Fitzgerald increased their target price on Arch Capital Group from $102.00 to $110.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Arch Capital Group currently has a consensus rating of “Hold” and an average target price of $110.96.

Insider Activity

In related news, Director Brian S. Posner sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total transaction of $58,980.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.30% of the stock is owned by corporate insiders.

About Arch Capital Group

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.