Sciencast Management LP Reduces Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Sciencast Management LP lowered its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 26.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,841 shares of the insurance provider’s stock after selling 7,301 shares during the quarter. Sciencast Management LP’s holdings in Arch Capital Group were worth $569,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ACGL. CWM Advisors LLC acquired a new position in Arch Capital Group during the 1st quarter valued at approximately $44,000. AIA Investment Management Private Ltd acquired a new position in Arch Capital Group during the 1st quarter worth $53,000. Eudaimonia Partners LLC boosted its position in Arch Capital Group by 158.1% during the 1st quarter. Eudaimonia Partners LLC now owns 1,874 shares of the insurance provider’s stock worth $53,000 after acquiring an additional 1,148 shares during the period. Meeder Asset Management Inc. boosted its position in Arch Capital Group by 1,534.1% during the 1st quarter. Meeder Asset Management Inc. now owns 2,010 shares of the insurance provider’s stock worth $58,000 after acquiring an additional 1,887 shares during the period. Finally, New York State Teachers Retirement System acquired a new position in Arch Capital Group during the 1st quarter worth $83,000. 77.66% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ ACGL opened at $30.75 on Friday. The firm has a market cap of $12.47 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 5.73 and a beta of 0.75. Arch Capital Group Ltd. has a one year low of $20.93 and a one year high of $48.32. The stock’s 50 day simple moving average is $29.44 and its 200 day simple moving average is $33.11. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.52 and a quick ratio of 0.52.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Wednesday, July 29th. The insurance provider reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.30. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.49 billion. Arch Capital Group had a return on equity of 7.07% and a net margin of 15.88%. Arch Capital Group’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.77 EPS. As a group, equities analysts expect that Arch Capital Group Ltd. will post 0.59 earnings per share for the current year.

ACGL has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price target on Arch Capital Group from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Thursday, June 11th. UBS Group decreased their price target on Arch Capital Group from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Wells Fargo & Co decreased their price target on Arch Capital Group from $40.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. ValuEngine upgraded Arch Capital Group from a “sell” rating to a “hold” rating in a research note on Thursday, July 2nd. Finally, Bank of America began coverage on Arch Capital Group in a research note on Friday, May 22nd. They set a “buy” rating and a $39.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $39.42.

In other Arch Capital Group news, SVP W Preston Hutchings sold 100,000 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $24.28, for a total value of $2,428,000.00. Following the transaction, the senior vice president now directly owns 51,377 shares in the company, valued at approximately $1,247,433.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Grandisson acquired 23,500 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was purchased at an average price of $26.37 per share, for a total transaction of $619,695.00. Insiders acquired a total of 25,500 shares of company stock worth $665,575 over the last quarter. Corporate insiders own 3.40% of the company’s stock.

About Arch Capital Group

Arch Capital Group Ltd., together with its subsidiaries, provides property, casualty, and mortgage insurance and reinsurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; collateral protection, debt cancellation, and service contract reimbursement products; 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.

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Institutional Ownership by Quarter for Arch Capital Group (NASDAQ:ACGL)

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