Arch Capital Group Ltd. (NASDAQ:ACGL) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 734,989 shares of the insurance provider’s stock after selling 28,579 shares during the period. Truist Financial Corp owned 0.20% of Arch Capital Group worth $54,588,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Northern Trust Corp boosted its stake in shares of Arch Capital Group by 9.2% during the third quarter. Northern Trust Corp now owns 4,652,983 shares of the insurance provider’s stock worth $370,889,000 after buying an additional 390,362 shares during the period. Invesco Ltd. grew its stake in shares of Arch Capital Group by 16.3% in the 3rd quarter. Invesco Ltd. now owns 3,385,665 shares of the insurance provider’s stock valued at $269,871,000 after purchasing an additional 475,464 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Arch Capital Group by 3.4% in the third quarter. Royal Bank of Canada now owns 3,151,688 shares of the insurance provider’s stock valued at $251,222,000 after purchasing an additional 104,299 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Arch Capital Group by 112.4% during the third quarter. Envestnet Asset Management Inc. now owns 2,620,807 shares of the insurance provider’s stock worth $208,905,000 after purchasing an additional 1,387,072 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of Arch Capital Group by 18.8% during the third quarter. Barclays PLC now owns 2,240,381 shares of the insurance provider’s stock worth $178,581,000 after purchasing an additional 354,482 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on ACGL shares. Evercore ISI upped their price objective on shares of Arch Capital Group from $92.00 to $100.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. TD Cowen assumed coverage on Arch Capital Group in a report on Wednesday, January 10th. They issued an “outperform” rating and a $96.00 price objective on the stock. Wells Fargo & Company increased their target price on Arch Capital Group from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. JMP Securities restated a “market outperform” rating and issued a $100.00 price target on shares of Arch Capital Group in a research note on Monday, April 15th. Finally, StockNews.com downgraded shares of Arch Capital Group from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $96.23.

Insider Transactions at Arch Capital Group

In related news, CEO Maamoun Rajeh sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $87.48, for a total transaction of $4,374,000.00. Following the sale, the chief executive officer now directly owns 336,170 shares in the company, valued at approximately $29,408,151.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Arch Capital Group news, CFO Francois Morin sold 25,689 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $87.47, for a total transaction of $2,247,016.83. Following the completion of the sale, the chief financial officer now owns 221,779 shares in the company, valued at approximately $19,399,009.13. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Maamoun Rajeh sold 50,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total value of $4,374,000.00. Following the transaction, the chief executive officer now owns 336,170 shares of the company’s stock, valued at $29,408,151.60. The disclosure for this sale can be found here. Insiders sold 135,689 shares of company stock valued at $11,872,217 over the last quarter. Company insiders own 4.20% of the company’s stock.

Arch Capital Group Stock Performance

Arch Capital Group stock opened at $90.90 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a fifty day moving average of $90.34 and a two-hundred day moving average of $84.42. The company has a market capitalization of $34.10 billion, a price-to-earnings ratio of 7.82, a PEG ratio of 1.13 and a beta of 0.57. Arch Capital Group Ltd. has a fifty-two week low of $69.05 and a fifty-two week high of $95.01.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Thursday, February 15th. The insurance provider reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.55. Arch Capital Group had a return on equity of 21.94% and a net margin of 32.59%. The business had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same period in the prior year, the firm posted $2.14 EPS. On average, analysts anticipate that Arch Capital Group Ltd. will post 8.03 EPS for the current fiscal year.

Arch Capital Group 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.