Arch Capital Group Ltd. $ACGL Stock: Sumitomo Mitsui Trust Group Inc. Cuts Stake

Sumitomo Mitsui Trust Group Inc. lowered its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 8.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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.’s holdings in Arch Capital Group were worth $78,808,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Horizons Wealth Management bought a new stake in shares of Arch Capital Group during the 3rd quarter worth $25,000. Torren Management LLC grew its position in Arch Capital Group by 66.9% in the second quarter. Torren Management LLC now owns 292 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 117 shares in the last quarter. Continuum Advisory LLC acquired a new position in Arch Capital Group during the second quarter worth $46,000. Allied Private Wealth LLC bought a new position in shares of Arch Capital Group in the 2nd quarter valued at approximately $69,000. Finally, Westpac Banking Corp bought a new position in shares of Arch Capital Group in the first quarter valued at approximately $69,000. 89.07% of the stock is owned by institutional investors.

Arch Capital Group Price Performance

ACGL stock opened at $107.79 on Wednesday. The company has a 50 day simple moving average of $98.27 and a 200 day simple moving average of $96.94. The stock has a market cap of $36.78 billion, a price-to-earnings ratio of 8.81, a P/E/G ratio of 3.64 and a beta of 0.22. Arch Capital Group Ltd. has a 1 year low of $85.99 and a 1 year high of $110.26. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.56 and a quick ratio of 0.57.

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

Insider Transactions at Arch Capital Group

In other news, CFO Francois Morin sold 11,010 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $99.32, for a total value of $1,093,513.20. Following the transaction, the chief financial officer owned 184,826 shares in the company, valued at $18,356,918.32. The trade was a 5.62% decrease in their position. The sale was disclosed in a 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 weighed in on ACGL. Weiss Ratings raised shares of Arch Capital Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 9th. Evercore dropped their target price on shares of Arch Capital Group from $105.00 to $103.00 in a research note on Wednesday, October 28th. Mizuho set a $100.00 target price on Arch Capital Group and gave the company a “neutral” rating in a research note on Wednesday, September 16th. Bank of America lifted their price target on shares of Arch Capital Group from $129.00 to $131.00 and gave the company a “buy” rating in a research note on Monday, October 12th. Finally, BMO Capital Markets raised their price target on shares of Arch Capital Group from $95.00 to $102.00 in a research note on Wednesday, August 5th. Seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $111.00.

Arch Capital Group Company Profile

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.