Sumitomo Mitsui Trust Group Inc. Acquires 90,139 Shares of Arch Capital Group Ltd. $ACGL

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 9.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,047,021 shares of the insurance provider’s stock after purchasing an additional 90,139 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Arch Capital Group were worth $95,331,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of ACGL. Bartlett & CO. Wealth Management LLC bought a new position in Arch Capital Group during the first quarter valued at about $27,000. Meeder Asset Management Inc. raised its stake in shares of Arch Capital Group by 116.3% in the 1st quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 150 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in Arch Capital Group in the 1st quarter worth approximately $31,000. Zions Bancorporation National Association UT bought a new stake in Arch Capital Group during the first quarter worth approximately $37,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Arch Capital Group by 3,450.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 414 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ACGL. Barclays set a $99.00 price objective on shares of Arch Capital Group and gave the stock an “equal weight” rating in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods boosted their target price on shares of Arch Capital Group from $102.00 to $103.00 and gave the stock a “market perform” rating in a research report on Thursday, August 14th. UBS Group reaffirmed a “buy” rating and issued a $118.00 price target (down from $124.00) on shares of Arch Capital Group in a research report on Monday, August 4th. Cantor Fitzgerald upgraded Arch Capital Group to a “hold” rating in a research note on Wednesday, August 13th. Finally, Wells Fargo & Company increased their target price on Arch Capital Group from $107.00 to $111.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Arch Capital Group has a consensus rating of “Hold” and an average price target of $108.71.

Insider Transactions at Arch Capital Group

In other news, insider Maamoun Rajeh sold 10,000 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $94.15, for a total value of $941,500.00. Following the completion of the transaction, the insider owned 433,589 shares in the company, valued at approximately $40,822,404.35. This represents a 2.25% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.20% of the stock is owned by company insiders.

Arch Capital Group Trading Down 0.4%

Shares of ACGL opened at $87.15 on Friday. The stock’s 50-day moving average price is $90.42 and its 200 day moving average price is $90.80. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $32.53 billion, a price-to-earnings ratio of 8.99, a P/E/G ratio of 5.05 and a beta of 0.47. Arch Capital Group Ltd. has a 12-month low of $82.49 and a 12-month high of $107.19.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.28. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.29 billion. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%.During the same quarter last year, the firm earned $2.57 EPS. As a group, research analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Arch Capital Group Company 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.