Texas Permanent School Fund Corp Lowers Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Texas Permanent School Fund Corp reduced its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,717 shares of the insurance provider’s stock after selling 358 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Arch Capital Group were worth $7,092,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ACGL. Public Sector Pension Investment Board boosted its holdings in shares of Arch Capital Group by 5.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 86,360 shares of the insurance provider’s stock worth $6,884,000 after purchasing an additional 4,548 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Arch Capital Group by 46.8% in the 3rd quarter. American Century Companies Inc. now owns 131,465 shares of the insurance provider’s stock valued at $10,479,000 after buying an additional 41,904 shares during the period. Citigroup Inc. grew its stake in shares of Arch Capital Group by 43.9% in the 3rd quarter. Citigroup Inc. now owns 458,905 shares of the insurance provider’s stock valued at $36,579,000 after buying an additional 140,028 shares during the period. Hudson Bay Capital Management LP acquired a new stake in Arch Capital Group during the third quarter worth $7,971,000. Finally, DNB Asset Management AS increased its stake in Arch Capital Group by 1.7% during the fourth quarter. DNB Asset Management AS now owns 70,082 shares of the insurance provider’s stock worth $5,205,000 after acquiring an additional 1,139 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity

In other Arch Capital Group news, CEO David Gansberg sold 10,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $96.64, for a total transaction of $966,400.00. Following the completion of the sale, the chief executive officer now directly owns 228,035 shares of the company’s stock, valued at approximately $22,037,302.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upped their price target on Arch Capital Group from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, July 1st. JMP Securities raised their price target on Arch Capital Group from $100.00 to $110.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 30th. Roth Mkm reaffirmed a “buy” rating and issued a $110.00 target price on shares of Arch Capital Group in a research report on Tuesday, April 30th. Bank of America cut their target price on shares of Arch Capital Group from $119.00 to $118.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. increased their price objective on Arch Capital Group from $96.00 to $106.00 and gave the company a “neutral” rating in a research note on Thursday. Four investment 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 a consensus rating of “Moderate Buy” and a consensus target price of $102.87.

Arch Capital Group Stock Up 0.6 %

Shares of NASDAQ:ACGL traded up $0.61 on Friday, hitting $97.61. 25,085 shares of the company’s stock were exchanged, compared to its average volume of 1,702,948. The firm’s 50-day moving average is $99.96 and its 200 day moving average is $90.78. The company has a market capitalization of $36.65 billion, a PE ratio of 7.66, a P/E/G ratio of 1.67 and a beta of 0.58. Arch Capital Group Ltd. has a 1-year low of $72.85 and a 1-year high of $103.79. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 0.59.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Monday, April 29th. The insurance provider reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.39. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.77 billion. Arch Capital Group had a net margin of 33.65% and a return on equity of 21.85%. Arch Capital Group’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.73 earnings per share. Sell-side analysts predict that Arch Capital Group Ltd. will post 8.55 EPS for the current 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.