Resona Asset Management Co. Ltd. Has $13.88 Million Stake in Arch Capital Group Ltd. $ACGL

Resona Asset Management Co. Ltd. trimmed its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 4.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 153,154 shares of the insurance provider’s stock after selling 6,337 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Arch Capital Group were worth $13,876,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ACGL. Vanguard Group Inc. grew its holdings in Arch Capital Group by 1.2% during the second quarter. Vanguard Group Inc. now owns 42,414,557 shares of the insurance provider’s stock valued at $3,861,845,000 after purchasing an additional 493,583 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of Arch Capital Group by 1.7% during the 2nd quarter. Artisan Partners Limited Partnership now owns 23,833,290 shares of the insurance provider’s stock worth $2,170,021,000 after buying an additional 408,950 shares during the period. Geode Capital Management LLC grew its stake in Arch Capital Group by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 10,502,003 shares of the insurance provider’s stock valued at $952,523,000 after buying an additional 115,465 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Arch Capital Group by 4.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,830,301 shares of the insurance provider’s stock worth $712,956,000 after acquiring an additional 359,710 shares during the period. Finally, Norges Bank acquired a new position in Arch Capital Group during the 2nd quarter worth $441,551,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Arch Capital Group news, insider John M. Pasquesi sold 8,800 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $94.17, for a total transaction of $828,696.00. Following the completion of the transaction, the insider directly owned 289,556 shares in the company, valued at $27,267,488.52. This represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Francois Morin sold 8,000 shares of Arch Capital Group stock in a transaction on Friday, November 28th. The shares were sold at an average price of $94.62, for a total value of $756,960.00. Following the transaction, the chief financial officer directly owned 266,681 shares of the company’s stock, valued at approximately $25,233,356.22. The trade was a 2.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 220,666 shares of company stock worth $20,728,673 over the last quarter. Company insiders own 4.10% of the company’s stock.

Arch Capital Group Stock Up 0.5%

Shares of ACGL opened at $92.96 on Monday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $93.67 and a two-hundred day moving average price of $90.98. The stock has a market cap of $33.71 billion, a price-to-earnings ratio of 8.70, a P/E/G ratio of 1.95 and a beta of 0.45. Arch Capital Group Ltd. has a 12 month low of $82.44 and a 12 month high of $97.60.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Monday, October 27th. The insurance provider reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $1.01. The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Arch Capital Group had a return on equity of 16.38% and a net margin of 20.96%.During the same period in the prior year, the firm posted $1.99 EPS. Equities analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Citigroup reaffirmed a “market outperform” rating on shares of Arch Capital Group in a research report on Friday, January 16th. Morgan Stanley set a $125.00 target price on Arch Capital Group in a report on Friday, January 16th. JPMorgan Chase & Co. upped their price target on Arch Capital Group from $111.00 to $117.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $97.00 price objective (up from $93.00) on shares of Arch Capital Group in a research report on Wednesday, January 14th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $93.00 target price (up previously from $84.00) on shares of Arch Capital Group in a research report on Wednesday, January 7th. Eight analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $107.53.

Arch Capital Group Profile

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.