State Board of Administration of Florida Retirement System lowered its stake in shares of Arch Capital Group (NASDAQ:ACGL) by 2.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 173,239 shares of the insurance provider’s stock after selling 4,356 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.13% of Arch Capital Group worth $14,828,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Wells Fargo & Company MN increased its position in Arch Capital Group by 18.1% during the 4th quarter. Wells Fargo & Company MN now owns 2,847,716 shares of the insurance provider’s stock worth $258,488,000 after purchasing an additional 436,449 shares in the last quarter. Victory Capital Management Inc. increased its position in Arch Capital Group by 141.2% during the 4th quarter. Victory Capital Management Inc. now owns 585,047 shares of the insurance provider’s stock worth $53,105,000 after purchasing an additional 342,497 shares in the last quarter. Partners Capital Investment Group LLP acquired a new stake in Arch Capital Group during the 4th quarter worth approximately $27,245,000. Investec Asset Management LTD acquired a new stake in Arch Capital Group during the 4th quarter worth approximately $23,000,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in Arch Capital Group during the 4th quarter worth approximately $17,462,000. 77.61% of the stock is owned by institutional investors.
A number of analysts recently issued reports on the stock. BidaskClub raised shares of Arch Capital Group from a “sell” rating to a “hold” rating in a research report on Tuesday, April 24th. Wells Fargo reissued a “hold” rating on shares of Arch Capital Group in a research report on Monday. Finally, TheStreet downgraded shares of Arch Capital Group from a “b” rating to a “c” rating in a research report on Tuesday, May 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $103.50.
ACGL opened at $78.82 on Friday. The company has a market cap of $10.69 billion, a P/E ratio of 22.83, a price-to-earnings-growth ratio of 1.13 and a beta of 0.63. Arch Capital Group has a 1 year low of $78.25 and a 1 year high of $78.57. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.52 and a quick ratio of 0.52.
Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, May 1st. The insurance provider reported $1.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.55 by $0.14. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Arch Capital Group had a return on equity of 6.04% and a net margin of 9.41%. Arch Capital Group’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.42 EPS. analysts expect that Arch Capital Group will post 6.32 earnings per share for the current year.
Arch Capital Group Company Profile
Arch Capital Group Ltd., together with its subsidiaries, provides property, casualty, and mortgage insurance and reinsurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; collateral protection, debt cancellation, and service contract reimbursement products; 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.
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