Sentry Investment Management LLC Reduces Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Sentry Investment Management LLC cut its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 17.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,611 shares of the insurance provider’s stock after selling 330 shares during the period. Sentry Investment Management LLC’s holdings in Arch Capital Group were worth $163,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ACGL. International Assets Investment Management LLC purchased a new position in Arch Capital Group in the fourth quarter valued at about $398,000. Private Advisor Group LLC increased its holdings in Arch Capital Group by 17.8% in the fourth quarter. Private Advisor Group LLC now owns 9,074 shares of the insurance provider’s stock valued at $674,000 after buying an additional 1,374 shares in the last quarter. QRG Capital Management Inc. grew its position in shares of Arch Capital Group by 8.0% in the fourth quarter. QRG Capital Management Inc. now owns 20,592 shares of the insurance provider’s stock valued at $1,529,000 after purchasing an additional 1,528 shares during the last quarter. Avantax Advisory Services Inc. grew its position in shares of Arch Capital Group by 13.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 7,489 shares of the insurance provider’s stock valued at $556,000 after purchasing an additional 867 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Arch Capital Group by 10.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 376,174 shares of the insurance provider’s stock valued at $28,943,000 after purchasing an additional 35,226 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other 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 shares were sold at an average price of $102.46, for a total value of $1,174,191.60. Following the transaction, the chief financial officer now 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 accessible through this hyperlink. Insiders own 4.20% of the company’s stock.

Arch Capital Group Stock Up 0.5 %

Shares of ACGL opened at $110.26 on Friday. The firm has a market cap of $41.40 billion, a PE ratio of 8.70, a price-to-earnings-growth ratio of 2.00 and a beta of 0.59. The company’s fifty day moving average is $102.30 and its two-hundred day moving average is $97.83. Arch Capital Group Ltd. has a fifty-two week low of $72.85 and a fifty-two week high of $114.65. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. The company had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. Arch Capital Group’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the business earned $1.92 EPS. Analysts forecast that Arch Capital Group Ltd. will post 9.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ACGL has been the topic of several research reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of Arch Capital Group from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Royal Bank of Canada increased their price target on shares of Arch Capital Group from $108.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Keefe, Bruyette & Woods increased their price target on shares of Arch Capital Group from $120.00 to $121.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Barclays assumed coverage on shares of Arch Capital Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 price target on the stock. Finally, Roth Mkm raised their target price on shares of Arch Capital Group from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $110.93.

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.