Sumitomo Mitsui DS Asset Management Company Ltd Increases Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Arch Capital Group Ltd. (NASDAQ:ACGLFree Report) by 7.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,099 shares of the insurance provider’s stock after purchasing an additional 3,763 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Arch Capital Group were worth $4,233,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Assetmark Inc. boosted its stake in shares of Arch Capital Group by 316.7% in the third quarter. Assetmark Inc. now owns 977,982 shares of the insurance provider’s stock valued at $77,955,000 after purchasing an additional 743,303 shares during the period. Financial Advocates Investment Management boosted its stake in shares of Arch Capital Group by 21.5% in the third quarter. Financial Advocates Investment Management now owns 3,980 shares of the insurance provider’s stock valued at $317,000 after purchasing an additional 705 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of Arch Capital Group by 78.2% in the third quarter. First Horizon Advisors Inc. now owns 9,990 shares of the insurance provider’s stock valued at $796,000 after purchasing an additional 4,384 shares during the period. Crestone Asset Management LLC purchased a new position in shares of Arch Capital Group in the third quarter valued at $226,000. Finally, TIAA Trust National Association purchased a new position in shares of Arch Capital Group in the third quarter valued at $221,000. 87.21% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Nicolas Papadopoulo sold 60,000 shares of Arch Capital Group stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $85.80, for a total value of $5,148,000.00. Following the transaction, the insider now owns 630,387 shares of the company’s stock, valued at approximately $54,087,204.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Marc Grandisson sold 103,028 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $85.01, for a total transaction of $8,758,410.28. Following the transaction, the chief executive officer now directly owns 1,937,157 shares of the company’s stock, valued at $164,677,716.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicolas Papadopoulo sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $85.80, for a total transaction of $5,148,000.00. Following the transaction, the insider now directly owns 630,387 shares in the company, valued at $54,087,204.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 170,378 shares of company stock worth $14,564,162. 4.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ACGL has been the topic of a number of research analyst reports. Royal Bank of Canada increased their price objective on shares of Arch Capital Group from $90.00 to $98.00 and gave the company an “outperform” rating in a research note on Wednesday, November 1st. Deutsche Bank Aktiengesellschaft started coverage on shares of Arch Capital Group in a research note on Wednesday, October 4th. They set a “buy” rating and a $81.00 price objective on the stock. Evercore ISI started coverage on shares of Arch Capital Group in a report on Thursday, December 14th. They set an “inline” rating and a $88.00 target price on the stock. StockNews.com started coverage on shares of Arch Capital Group in a report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Morgan Stanley increased their target price on shares of Arch Capital Group from $100.00 to $103.00 and gave the stock an “overweight” rating in a report on Tuesday, October 31st. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.80.

Read Our Latest Research Report on ACGL

Arch Capital Group Stock Up 0.1 %

ACGL stock opened at $77.69 on Friday. Arch Capital Group Ltd. has a 52 week low of $60.70 and a 52 week high of $90.65. The company has a market capitalization of $28.99 billion, a price-to-earnings ratio of 10.01, a price-to-earnings-growth ratio of 0.99 and a beta of 0.59. The firm’s 50-day moving average is $79.83 and its two-hundred day moving average is $79.30. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.22.

Arch Capital Group (NASDAQ:ACGLGet Free Report) last released its quarterly earnings results on Tuesday, October 31st. The insurance provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.77. Arch Capital Group had a net margin of 23.46% and a return on equity of 23.06%. The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same period in the previous year, the firm earned $0.28 EPS. On average, analysts forecast that Arch Capital Group Ltd. will post 7.89 earnings per share for the current fiscal year.

Arch Capital Group Profile

(Free Report)

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; collateral protection, debt cancellation, and service contract reimbursement products; 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.

See Also

Institutional Ownership by Quarter for Arch Capital Group (NASDAQ:ACGL)

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