Sumitomo Mitsui Trust Group Inc. Sells 47,056 Shares of Arch Capital Group Ltd. $ACGL

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 4.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 999,965 shares of the insurance provider’s stock after selling 47,056 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Arch Capital Group were worth $90,727,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ACGL. Caitong International Asset Management Co. Ltd lifted its holdings in Arch Capital Group by 3,450.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 414 shares during the last quarter. TD Waterhouse Canada Inc. increased its stake in Arch Capital Group by 31.4% in the second quarter. TD Waterhouse Canada Inc. now owns 469 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 112 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Arch Capital Group by 157.9% in the first quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider’s stock valued at $65,000 after buying an additional 412 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Arch Capital Group during the 2nd quarter valued at approximately $73,000. Finally, CYBER HORNET ETFs LLC acquired a new position in shares of Arch Capital Group during the second quarter worth $87,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ACGL shares. Keefe, Bruyette & Woods raised their price target on shares of Arch Capital Group from $100.00 to $102.00 and gave the company a “market perform” rating in a research note on Tuesday, January 6th. Barclays set a $104.00 target price on Arch Capital Group and gave the company an “equal weight” rating in a report on Thursday, January 8th. Morgan Stanley boosted their target price on Arch Capital Group from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. The Goldman Sachs Group reissued a “sell” rating and set a $93.00 target price (up previously from $84.00) on shares of Arch Capital Group in a report on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arch Capital Group in a report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Arch Capital Group has an average rating of “Hold” and an average price target of $106.53.

Insider Activity

In related news, insider John M. Pasquesi sold 203,866 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $93.90, for a total transaction of $19,143,017.40. Following the completion of the sale, the insider owned 351,356 shares in the company, valued at approximately $32,992,328.40. This represents a 36.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Francois Morin sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $94.62, for a total transaction of $756,960.00. Following the sale, the chief financial officer directly owned 266,681 shares of the company’s stock, valued at approximately $25,233,356.22. This represents a 2.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 220,666 shares of company stock valued at $20,728,673 over the last ninety days. Corporate insiders own 4.20% of the company’s stock.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $91.29 on Thursday. The company has a market capitalization of $33.10 billion, a P/E ratio of 8.54, a PEG ratio of 2.04 and a beta of 0.45. Arch Capital Group Ltd. has a fifty-two week low of $82.44 and a fifty-two week high of $97.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a 50 day moving average price of $93.53 and a two-hundred day moving average price of $90.87.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Monday, October 27th. The insurance provider reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $1.01. The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $4.39 billion. Arch Capital Group had a return on equity of 16.38% and a net margin of 20.96%.During the same period in the previous year, the firm earned $1.99 earnings per share. Analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

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.