Arch Capital Group Ltd. $ACGL Stock: Sumitomo Mitsui Trust Group Inc. Lowers Position

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 8.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 853,270 shares of the insurance provider’s stock after selling 81,012 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.25% of Arch Capital Group worth $78,808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ACGL. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Arch Capital Group during the third quarter valued at approximately $9,569,000. Profund Advisors LLC lifted its stake in Arch Capital Group by 8.5% in the third quarter. Profund Advisors LLC now owns 3,163 shares of the insurance provider’s stock worth $292,000 after purchasing an additional 247 shares during the last quarter. Vise Technologies Inc. boosted its holdings in Arch Capital Group by 8.1% during the 3rd quarter. Vise Technologies Inc. now owns 25,727 shares of the insurance provider’s stock valued at $2,376,000 after acquiring an additional 1,936 shares during the period. Cidel Asset Management Inc. increased its holdings in Arch Capital Group by 10.5% during the 3rd quarter. Cidel Asset Management Inc. now owns 2,355 shares of the insurance provider’s stock worth $218,000 after purchasing an additional 224 shares during the period. Finally, MGO One Seven LLC lifted its stake in Arch Capital Group by 0.8% in the third quarter. MGO One Seven LLC now owns 22,536 shares of the insurance provider’s stock worth $2,081,000 after acquiring an additional 169 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Price Performance

Shares of ACGL opened at $107.79 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.56 and a quick ratio of 0.57. The stock has a market cap of $36.78 billion, a PE ratio of 8.81, a price-to-earnings-growth ratio of 3.64 and a beta of 0.22. The firm has a fifty day moving average price of $98.27 and a 200 day moving average price of $96.94. Arch Capital Group Ltd. has a 1-year low of $85.99 and a 1-year high of $110.26.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, October 27th. The insurance provider reported $2.67 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.36. The firm had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.06 billion. Arch Capital Group had a return on equity of 16.62% and a net margin of 23.31%. During the same quarter in the prior year, the company posted $2.77 earnings per share. As a group, sell-side analysts anticipate that Arch Capital Group Ltd. will post 10.03 EPS for the current year.

Insider Buying and Selling at Arch Capital Group

In other news, CFO Francois Morin sold 11,010 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $99.32, for a total value of $1,093,513.20. Following the completion of the sale, the chief financial officer owned 184,826 shares of the company’s stock, valued at $18,356,918.32. This represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ACGL. Weiss Ratings upgraded shares of Arch Capital Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 9th. Evercore reduced their target price on Arch Capital Group from $105.00 to $103.00 in a research note on Wednesday, October 28th. Royal Bank Of Canada reissued an “outperform” rating and set a $120.00 target price (up from $115.00) on shares of Arch Capital Group in a report on Thursday, July 30th. BMO Capital Markets boosted their price target on shares of Arch Capital Group from $95.00 to $102.00 in a research report on Wednesday, August 5th. Finally, Wells Fargo & Company lifted their price target on Arch Capital Group from $107.00 to $119.00 and gave the stock an “overweight” rating in a report on Monday. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Arch Capital Group currently has a consensus rating of “Hold” and a consensus target price of $111.00.

About Arch Capital Group

Arch Capital Group Ltd. is a Bermuda-based insurance, reinsurance and mortgage insurance company whose shares trade on the Nasdaq under the symbol ACGL. The company was established in 1995 and has developed into a global provider of specialty risk-management products and services.

Through its insurance operations, Arch offers property, casualty, specialty, and accident and health coverage to businesses and other policyholders. Its reinsurance operations provide coverage and risk-transfer solutions to insurance companies across a range of property and casualty lines.