Alliancebernstein L.P. Trims Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Alliancebernstein L.P. trimmed its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 405,071 shares of the insurance provider’s stock after selling 13,097 shares during the period. Alliancebernstein L.P.’s holdings in Arch Capital Group were worth $37,408,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ACGL. Vanguard Group Inc. raised its holdings in Arch Capital Group by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 41,999,603 shares of the insurance provider’s stock valued at $3,878,663,000 after acquiring an additional 182,150 shares in the last quarter. State Street Corp lifted its position in shares of 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 worth $1,855,803,000 after purchasing an additional 172,628 shares during the last quarter. Geode Capital Management LLC grew its stake in Arch Capital Group by 2.4% in the third quarter. Geode Capital Management LLC now owns 10,830,263 shares of the insurance provider’s stock worth $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 buying an additional 783,506 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Arch Capital Group by 4.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,350,868 shares of the insurance provider’s stock valued at $488,992,000 after acquiring an additional 226,617 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Trading Down 8.8 %

Shares of NASDAQ:ACGL opened at $87.83 on Friday. Arch Capital Group Ltd. has a 12-month low of $87.42 and a 12-month high of $116.47. 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 capitalization of $33.00 billion, a P/E ratio of 7.84, a price-to-earnings-growth ratio of 2.31 and a beta of 0.36. The firm has a fifty day moving average of $92.23 and a two-hundred day moving average of $97.57.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Monday, February 10th. The insurance provider reported $2.26 EPS for the quarter, beating 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 period in the prior year, the company earned $2.45 EPS. On average, equities analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ACGL. Keefe, Bruyette & Woods lowered their target price on shares of Arch Capital Group from $120.00 to $113.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Barclays dropped their price objective on shares of Arch Capital Group from $120.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company decreased their target price on 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. Royal Bank of Canada dropped their price target on Arch Capital Group from $125.00 to $110.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 12th. Finally, JMP Securities restated a “market outperform” rating and set a $125.00 price objective on shares of Arch Capital Group in a research report on Tuesday, February 11th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Arch Capital Group currently has an average rating of “Moderate Buy” and an average target price of $117.19.

Insider Buying and Selling

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

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.