Mutual of America Capital Management LLC Sells 3,225 Shares of Arch Capital Group Ltd. $ACGL

Mutual of America Capital Management LLC lessened its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 97,764 shares of the insurance provider’s stock after selling 3,225 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Arch Capital Group were worth $8,901,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ACGL. Nuveen LLC bought a new stake in Arch Capital Group during the 1st quarter valued at approximately $399,651,000. JPMorgan Chase & Co. increased its stake in Arch Capital Group by 30.5% in the 1st quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider’s stock worth $718,522,000 after acquiring an additional 1,743,945 shares during the last quarter. GQG Partners LLC bought a new stake in Arch Capital Group in the 1st quarter worth approximately $71,769,000. Champlain Investment Partners LLC bought a new stake in Arch Capital Group in the 1st quarter worth approximately $48,040,000. Finally, Amundi increased its stake in Arch Capital Group by 32.3% in the 1st quarter. Amundi now owns 1,683,211 shares of the insurance provider’s stock worth $162,060,000 after acquiring an additional 410,825 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Insider Activity

In related news, insider Maamoun Rajeh sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total transaction of $941,500.00. Following the completion of the sale, the insider directly owned 433,589 shares of the company’s stock, valued at approximately $40,822,404.35. This trade represents a 2.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.10% of the company’s stock.

Arch Capital Group Price Performance

Shares of Arch Capital Group stock opened at $86.51 on Monday. The stock has a market cap of $32.29 billion, a price-to-earnings ratio of 8.93, a price-to-earnings-growth ratio of 5.01 and a beta of 0.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a 50 day moving average price of $90.67 and a 200-day moving average price of $90.80. Arch Capital Group Ltd. has a one year low of $82.49 and a one year high of $109.61.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.28. The firm had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.29 billion. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%.During the same quarter in the previous year, the business earned $2.57 EPS. Equities analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Analysts Set New Price Targets

ACGL has been the topic of a number of research reports. The Goldman Sachs Group set a $88.00 price objective on Arch Capital Group and gave the stock a “sell” rating in a research note on Tuesday, October 14th. Barclays set a $99.00 price objective on Arch Capital Group and gave the stock an “equal weight” rating in a research note on Wednesday, October 8th. Wells Fargo & Company lifted their price objective on Arch Capital Group from $107.00 to $111.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Cowen reaffirmed a “buy” rating on shares of Arch Capital Group in a research note on Monday, August 4th. Finally, Cantor Fitzgerald raised Arch Capital Group to a “hold” rating in a research note on Wednesday, August 13th. Eight equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Arch Capital Group has an average rating of “Hold” and an average target price of $108.71.

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.