Resona Asset Management Co. Ltd. Decreases Stake in Arch Capital Group Ltd. $ACGL

Resona Asset Management Co. Ltd. reduced its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 4.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 146,785 shares of the insurance provider’s stock after selling 6,369 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Arch Capital Group were worth $14,090,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Bridges Investment Management Inc. purchased a new position in Arch Capital Group in the 3rd quarter worth approximately $1,413,000. Allianz Asset Management GmbH increased its stake in Arch Capital Group by 12.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 192,567 shares of the insurance provider’s stock worth $17,472,000 after purchasing an additional 21,323 shares during the period. High Ground Investment Management LLP increased its stake in Arch Capital Group by 3.5% in the 3rd quarter. High Ground Investment Management LLP now owns 1,714,668 shares of the insurance provider’s stock worth $155,572,000 after purchasing an additional 58,151 shares during the period. WCM Investment Management LLC increased its stake in Arch Capital Group by 1.3% in the 3rd quarter. WCM Investment Management LLC now owns 13,525,402 shares of the insurance provider’s stock worth $1,214,987,000 after purchasing an additional 171,693 shares during the period. Finally, Cooke & Bieler LP purchased a new position in shares of Arch Capital Group during the third quarter valued at approximately $210,856,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Price Performance

ACGL opened at $96.84 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.55 and a current ratio of 0.55. Arch Capital Group Ltd. has a 52-week low of $82.44 and a 52-week high of $103.39. The stock has a market capitalization of $33.83 billion, a PE ratio of 7.44, a price-to-earnings-growth ratio of 5.31 and a beta of 0.35. The stock’s 50 day moving average price is $95.37 and its 200-day moving average price is $94.89.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share for the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%.The company had revenue of $4.52 billion for the quarter. On average, equities research analysts predict that Arch Capital Group Ltd. will post 9.27 EPS for the current year.

Insider Transactions at Arch Capital Group

In other news, Director Daniel Joseph Houston purchased 5,300 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The shares were bought at an average cost of $94.08 per share, for a total transaction of $498,624.00. Following the completion of the transaction, the director directly owned 9,915 shares of the company’s stock, valued at $932,803.20. This trade represents a 114.84% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Brian S. Posner sold 2,000 shares of Arch Capital Group stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $17.14, for a total value of $34,280.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 32,837 shares of company stock valued at $2,766,946. Company insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

ACGL has been the topic of several research analyst reports. Cantor Fitzgerald reissued a “neutral” rating and set a $100.00 target price (up from $97.00) on shares of Arch Capital Group in a research note on Tuesday, February 17th. JPMorgan Chase & Co. reduced their target price on Arch Capital Group from $117.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. Weiss Ratings cut Arch Capital Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday. Royal Bank Of Canada boosted their target price on Arch Capital Group from $108.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Finally, UBS Group reissued a “buy” rating and set a $114.00 target price (up from $113.00) on shares of Arch Capital Group in a research note on Tuesday, February 17th. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $106.32.

Arch Capital Group Company 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.