Truist Financial Corp Grows Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Truist Financial Corp raised its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 780,707 shares of the insurance provider’s stock after buying an additional 4,888 shares during the period. Truist Financial Corp owned approximately 0.21% of Arch Capital Group worth $72,098,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp boosted its position in Arch Capital Group by 1.1% during the third quarter. State Street Corp now owns 16,587,446 shares of the insurance provider’s stock worth $1,855,803,000 after purchasing an additional 172,628 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Arch Capital Group by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 10,830,263 shares of the insurance provider’s stock worth $1,208,307,000 after buying an additional 253,648 shares in the last quarter. Principal Financial Group Inc. grew its stake in Arch Capital Group by 10.5% in the 4th quarter. Principal Financial Group Inc. now owns 8,222,244 shares of the insurance provider’s stock valued at $759,324,000 after acquiring an additional 783,506 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Arch Capital Group by 4.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,350,868 shares of the insurance provider’s stock valued at $488,992,000 after acquiring an additional 226,617 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Arch Capital Group by 245.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,739 shares of the insurance provider’s stock valued at $341,652,000 after acquiring an additional 2,168,897 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ACGL has been the topic of several research reports. BMO Capital Markets increased their price target on shares of Arch Capital Group from $98.00 to $104.00 and gave the company a “market perform” rating in a research report on Wednesday, November 6th. Royal Bank of Canada reduced their price target on Arch Capital Group from $125.00 to $110.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 12th. Barclays decreased their target price on shares of Arch Capital Group from $120.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Bank of America lowered their price target on Arch Capital Group from $143.00 to $136.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Finally, JMP Securities reissued a “market outperform” rating and issued a $125.00 price objective on shares of Arch Capital Group in a research report on Tuesday, February 11th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.53.

Arch Capital Group Stock Down 2.2 %

NASDAQ:ACGL opened at $88.20 on Tuesday. Arch Capital Group Ltd. has a 12-month low of $83.97 and a 12-month high of $116.47. The stock’s fifty day simple moving average is $92.37 and its 200-day simple moving average is $100.92. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $33.18 billion, a P/E ratio of 5.92, a P/E/G ratio of 1.53 and a beta of 0.64.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Monday, February 10th. The insurance provider reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.36. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. During the same period last year, the firm posted $2.45 earnings per share. Equities research analysts expect that Arch Capital Group Ltd. will post 8.86 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.