Pictet Asset Management Holding SA Has $19.99 Million Stock Holdings in Arch Capital Group Ltd. $ACGL

Pictet Asset Management Holding SA cut its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 3.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,251 shares of the insurance provider’s stock after selling 7,071 shares during the period. Pictet Asset Management Holding SA’s holdings in Arch Capital Group were worth $19,989,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ACGL. Legal & General Group Plc lifted its holdings in Arch Capital Group by 4.3% in the 4th quarter. Legal & General Group Plc now owns 2,944,169 shares of the insurance provider’s stock worth $282,405,000 after purchasing an additional 121,090 shares during the last quarter. National Pension Service boosted its holdings in Arch Capital Group by 8.5% in the 4th quarter. National Pension Service now owns 683,272 shares of the insurance provider’s stock valued at $65,539,000 after purchasing an additional 53,661 shares during the period. Natixis Advisors LLC lifted its stake in shares of Arch Capital Group by 9.5% in the third quarter. Natixis Advisors LLC now owns 1,951,019 shares of the insurance provider’s stock valued at $177,016,000 after buying an additional 168,922 shares during the period. Asset Management One Co. Ltd. grew its holdings in shares of Arch Capital Group by 10.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 187,002 shares of the insurance provider’s stock worth $18,024,000 after purchasing an additional 17,923 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Arch Capital Group by 50.4% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,548,042 shares of the insurance provider’s stock worth $148,488,000 after buying an additional 518,527 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Arch Capital Group Trading Up 1.5%

Shares of NASDAQ:ACGL opened at $98.55 on Thursday. Arch Capital Group Ltd. has a one year low of $82.44 and a one year high of $103.39. The stock has a market capitalization of $34.43 billion, a PE ratio of 7.57, a price-to-earnings-growth ratio of 4.85 and a beta of 0.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.55 and a quick ratio of 0.55. The company’s 50-day moving average price is $93.68 and its two-hundred day moving average price is $95.17.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $2.50 EPS for the quarter. The firm had revenue of $4.52 billion during the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%. On average, equities analysts forecast that Arch Capital Group Ltd. will post 9.3 EPS for the current fiscal year.

Insider Activity

In related news, Director Daniel Joseph Houston acquired 5,300 shares of Arch Capital Group stock in a transaction on Thursday, April 30th. The stock was purchased at an average cost of $94.08 per share, with a total value of $498,624.00. Following the completion of the transaction, the director directly owned 9,915 shares in the company, valued at $932,803.20. This trade represents a 114.84% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian S. Posner sold 3,000 shares of Arch Capital Group stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total transaction of $58,980.00. The disclosure for this sale is available in the SEC filing. Company insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on ACGL. Wells Fargo & Company boosted their price target on Arch Capital Group from $109.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Morgan Stanley set a $105.00 price target on shares of Arch Capital Group in a report on Friday, May 1st. JPMorgan Chase & Co. lowered their price objective on Arch Capital Group from $117.00 to $110.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. Barclays lifted their target price on shares of Arch Capital Group from $104.00 to $106.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 8th. Finally, Citigroup increased their target price on Arch Capital Group from $120.00 to $122.50 and gave the company a “buy” rating in a research note on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $106.81.

About Arch Capital Group

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.