OVERSEA CHINESE BANKING Corp Ltd Sells 4,317 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

OVERSEA CHINESE BANKING Corp Ltd decreased its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 37.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,142 shares of the insurance provider’s stock after selling 4,317 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Arch Capital Group were worth $660,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. State Street Corp raised its stake in Arch Capital Group by 1.1% during the third quarter. State Street Corp now owns 16,587,446 shares of the insurance provider’s stock valued at $1,855,803,000 after purchasing an additional 172,628 shares in the last quarter. Geode Capital Management LLC raised its stake in Arch Capital Group by 2.4% during the third quarter. Geode Capital Management LLC now owns 10,830,263 shares of the insurance provider’s stock valued at $1,208,307,000 after purchasing an additional 253,648 shares in the last quarter. Principal Financial Group Inc. raised its stake in Arch Capital Group by 10.5% during the fourth quarter. Principal Financial Group Inc. now owns 8,222,244 shares of the insurance provider’s stock valued at $759,324,000 after purchasing an additional 783,506 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Arch Capital Group by 4.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,350,868 shares of the insurance provider’s stock valued at $488,992,000 after purchasing an additional 226,617 shares in the last quarter. Finally, Madison Investment Advisors LLC purchased a new stake in Arch Capital Group during the fourth quarter valued at $410,010,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In other news, insider Louis T. Petrillo sold 11,600 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $91.00, for a total transaction of $1,055,600.00. Following the completion of the sale, the insider now owns 140,023 shares in the company, valued at approximately $12,742,093. This represents a 7.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.20% of the stock is owned by company insiders.

Arch Capital Group Stock Down 0.8 %

Arch Capital Group stock opened at $92.45 on Friday. The business has a fifty day moving average of $91.95 and a two-hundred day moving average of $99.00. The company has a quick ratio of 0.58, a current ratio of 0.54 and a debt-to-equity ratio of 0.15. The firm has a market cap of $34.70 billion, a P/E ratio of 8.25, a P/E/G ratio of 2.31 and a beta of 0.62. Arch Capital Group Ltd. has a twelve month low of $87.42 and a twelve month high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Monday, February 10th. The insurance provider reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates 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 company earned $2.45 earnings per share. On average, analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Arch Capital Group from $110.00 to $106.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Morgan Stanley dropped their price target on shares of Arch Capital Group from $115.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Wells Fargo & Company dropped their price target on shares of Arch Capital Group from $107.00 to $106.00 and set an “overweight” rating for the company in a research note on Wednesday, February 12th. Keefe, Bruyette & Woods dropped their target price on 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, Royal Bank of Canada cut their target price on Arch Capital Group from $125.00 to $110.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 12th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Arch Capital Group currently has a consensus rating of “Moderate Buy” and an average 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.