Varma Mutual Pension Insurance Co Sells 106,700 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Varma Mutual Pension Insurance Co cut its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 81.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,400 shares of the insurance provider’s stock after selling 106,700 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Arch Capital Group were worth $2,462,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ACGL. Norges Bank bought a new position in shares of Arch Capital Group during the 4th quarter worth approximately $309,496,000. Capital International Investors boosted its holdings in shares of Arch Capital Group by 61.1% during the 1st quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock worth $380,167,000 after buying an additional 1,560,173 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Arch Capital Group by 61.6% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,191,282 shares of the insurance provider’s stock worth $237,017,000 after buying an additional 1,216,080 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Arch Capital Group by 11.4% during the 1st quarter. Principal Financial Group Inc. now owns 6,800,236 shares of the insurance provider’s stock worth $628,614,000 after buying an additional 693,608 shares in the last quarter. Finally, Gladstone Capital Management LLP boosted its holdings in shares of Arch Capital Group by 52.8% during the 4th quarter. Gladstone Capital Management LLP now owns 1,385,307 shares of the insurance provider’s stock worth $102,887,000 after buying an additional 478,570 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Francois Morin sold 11,460 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the completion of the sale, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ACGL. Citigroup increased their price target on Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a report on Tuesday. Wells Fargo & Company cut their price target on Arch Capital Group from $111.00 to $110.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Bank of America lowered their target price on Arch Capital Group from $119.00 to $118.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. StockNews.com lowered Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, Evercore ISI upped their target price on Arch Capital Group from $100.00 to $104.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $110.93.

Arch Capital Group Trading Down 0.4 %

NASDAQ ACGL opened at $111.28 on Wednesday. The firm has a market capitalization of $41.78 billion, a P/E ratio of 8.78, a PEG ratio of 2.00 and a beta of 0.59. The business has a fifty day simple moving average of $101.81 and a 200 day simple moving average of $97.66. Arch Capital Group Ltd. has a 12 month low of $72.85 and a 12 month high of $114.65. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.16.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. The business had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.89 billion. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. Arch Capital Group’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.92 EPS. On average, analysts predict that Arch Capital Group Ltd. will post 9.01 EPS for the current fiscal year.

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.