Renaissance Technologies LLC Reduces Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Renaissance Technologies LLC lowered its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 22.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,070,300 shares of the insurance provider’s stock after selling 910,505 shares during the period. Renaissance Technologies LLC owned 0.76% of Arch Capital Group worth $131,685,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC bought a new position in shares of Arch Capital Group during the third quarter valued at about $255,000. Creative Planning bought a new stake in shares of Arch Capital Group in the third quarter worth about $795,000. Daiwa Securities Group Inc. grew its stake in shares of Arch Capital Group by 14.7% in the third quarter. Daiwa Securities Group Inc. now owns 16,911 shares of the insurance provider’s stock worth $710,000 after purchasing an additional 2,161 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Arch Capital Group by 122.4% in the third quarter. First Trust Advisors LP now owns 779,661 shares of the insurance provider’s stock worth $32,730,000 after purchasing an additional 429,052 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Arch Capital Group by 5,112.7% in the third quarter. Tower Research Capital LLC TRC now owns 2,867 shares of the insurance provider’s stock worth $120,000 after purchasing an additional 2,812 shares during the last quarter. Hedge funds and other institutional investors own 80.11% of the company’s stock.

ACGL stock traded down $4.39 during mid-day trading on Thursday, hitting $31.49. The company had a trading volume of 224,330 shares, compared to its average volume of 1,409,751. The company has a market capitalization of $13.35 billion, a price-to-earnings ratio of 8.15, a P/E/G ratio of 1.27 and a beta of 0.69. Arch Capital Group Ltd. has a 12-month low of $31.68 and a 12-month high of $48.32. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $44.38 and a 200 day moving average price of $42.31.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.67 by $0.07. Arch Capital Group had a net margin of 23.47% and a return on equity of 10.92%. The business had revenue of $1.67 billion for the quarter. As a group, analysts expect that Arch Capital Group Ltd. will post 2.99 EPS for the current year.

In related news, SVP W Preston Hutchings sold 40,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $47.10, for a total value of $1,884,000.00. Following the sale, the senior vice president now directly owns 45,719 shares of the company’s stock, valued at approximately $2,153,364.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Francois Morin sold 6,990 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $48.16, for a total transaction of $336,638.40. Following the completion of the sale, the chief financial officer now directly owns 32,150 shares in the company, valued at $1,548,344. The disclosure for this sale can be found here. Insiders sold a total of 86,990 shares of company stock worth $4,059,038 over the last three months. 5.20% of the stock is currently owned by corporate insiders.

Several analysts recently issued reports on the company. Morgan Stanley raised their target price on Arch Capital Group from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. Cfra lifted their price objective on Arch Capital Group from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. BidaskClub raised Arch Capital Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Wells Fargo & Co raised Arch Capital Group from an “equal weight” rating to an “overweight” rating and set a $48.00 price objective on the stock in a research report on Monday, January 6th. Finally, Barclays reiterated a “buy” rating and set a $52.00 target price on shares of Arch Capital Group in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Arch Capital Group currently has an average rating of “Buy” and an average price target of $45.59.

Arch Capital Group 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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Institutional Ownership by Quarter for Arch Capital Group (NASDAQ:ACGL)

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