US Bancorp DE Trims Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

US Bancorp DE lowered its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 14.0% during the first quarter, Holdings Channel.com reports. The firm owned 70,611 shares of the insurance provider’s stock after selling 11,497 shares during the period. US Bancorp DE’s holdings in Arch Capital Group were worth $6,527,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ACGL. American Century Companies Inc. raised its position in Arch Capital Group by 46.8% in the third quarter. American Century Companies Inc. now owns 131,465 shares of the insurance provider’s stock valued at $10,479,000 after purchasing an additional 41,904 shares during the period. Diversified Trust Co raised its position in Arch Capital Group by 17.1% in the fourth quarter. Diversified Trust Co now owns 3,928 shares of the insurance provider’s stock valued at $292,000 after purchasing an additional 575 shares during the period. First Hawaiian Bank purchased a new stake in Arch Capital Group in the fourth quarter valued at $768,000. Wedmont Private Capital raised its position in Arch Capital Group by 9.1% in the fourth quarter. Wedmont Private Capital now owns 3,954 shares of the insurance provider’s stock valued at $305,000 after purchasing an additional 331 shares during the period. Finally, Nordea Investment Management AB raised its position in Arch Capital Group by 2.2% in the fourth quarter. Nordea Investment Management AB now owns 26,509 shares of the insurance provider’s stock valued at $1,966,000 after purchasing an additional 570 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Stock Up 0.6 %

Shares of NASDAQ:ACGL traded up $0.60 on Wednesday, hitting $97.71. 424,834 shares of the company’s stock were exchanged, compared to its average volume of 1,697,211. The firm’s 50-day moving average is $99.98 and its 200 day moving average is $91.51. The company has a market capitalization of $36.69 billion, a PE ratio of 7.66, a P/E/G ratio of 1.62 and a beta of 0.58. Arch Capital Group Ltd. has a 1-year low of $72.85 and a 1-year high of $103.79. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 0.59.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Monday, April 29th. The insurance provider reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.39. Arch Capital Group had a return on equity of 21.85% and a net margin of 33.65%. The business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the firm posted $1.73 EPS. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. Sell-side analysts predict that Arch Capital Group Ltd. will post 8.59 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ACGL shares. Morgan Stanley lifted their price objective on Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Roth Mkm reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Arch Capital Group in a research note on Tuesday, April 30th. Evercore ISI lifted their price objective on Arch Capital Group from $98.00 to $100.00 and gave the company an “in-line” rating in a research note on Tuesday, April 30th. JMP Securities lifted their price objective on Arch Capital Group from $100.00 to $110.00 and gave the company a “market outperform” rating in a research note on Tuesday, April 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Arch Capital Group from $96.00 to $106.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Arch Capital Group currently has an average rating of “Moderate Buy” and a consensus price target of $102.87.

Insider Activity

In other Arch Capital Group news, CEO David Gansberg sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $96.64, for a total transaction of $966,400.00. Following the completion of the sale, the chief executive officer now directly owns 228,035 shares of the company’s stock, valued at approximately $22,037,302.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.20% of the company’s stock.

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.