Allspring Global Investments Holdings LLC Sells 536,439 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Arch Capital Group Ltd. by 10.6%, selling 536,439 shares to hold a total of 4,533,533 shares, making it the 15th largest holding in their portfolio.
• Arch Capital Group reported earnings per share (EPS) of $2.58, exceeding estimates by $0.28, with revenue reaching $4.35 billion for the most recent quarter.
• Analysts maintain a consensus rating of "Moderate Buy" for Arch Capital Group, with a target price averaging $110.31 based on eight buy and eight hold ratings.

Allspring Global Investments Holdings LLC trimmed its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 10.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,533,533 shares of the insurance provider's stock after selling 536,439 shares during the period. Arch Capital Group accounts for approximately 0.7% of Allspring Global Investments Holdings LLC's portfolio, making the stock its 15th largest holding. Allspring Global Investments Holdings LLC owned 1.21% of Arch Capital Group worth $414,818,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bartlett & CO. Wealth Management LLC bought a new position in Arch Capital Group during the first quarter valued at $27,000. Meeder Asset Management Inc. grew its holdings in Arch Capital Group by 116.3% during the first quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock valued at $27,000 after purchasing an additional 150 shares during the period. Wayfinding Financial LLC bought a new position in Arch Capital Group during the first quarter valued at $31,000. Zions Bancorporation National Association UT purchased a new stake in shares of Arch Capital Group during the first quarter worth $37,000. Finally, Grove Bank & Trust purchased a new stake in shares of Arch Capital Group during the first quarter worth $40,000. 89.07% of the stock is owned by institutional investors.

Arch Capital Group Trading Up 0.3%

Shares of ACGL stock opened at $92.47 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. Arch Capital Group Ltd. has a 52-week low of $82.49 and a 52-week high of $115.06. The company has a market capitalization of $34.51 billion, a PE ratio of 9.54, a price-to-earnings-growth ratio of 5.47 and a beta of 0.47. The business's fifty day moving average is $90.63 and its 200 day moving average is $91.03.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.30 by $0.28. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%.The company had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter last year, the business posted $2.57 earnings per share. On average, equities research analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ACGL has been the topic of several recent research reports. Wolfe Research initiated coverage on Arch Capital Group in a research report on Monday, September 15th. They set a "peer perform" rating on the stock. Barclays set a $99.00 target price on Arch Capital Group and gave the stock an "equal weight" rating in a research report on Wednesday. Cantor Fitzgerald upgraded Arch Capital Group to a "hold" rating in a research report on Wednesday, August 13th. Citigroup initiated coverage on Arch Capital Group in a research report on Wednesday, August 13th. They set a "buy" rating and a $113.00 target price on the stock. Finally, Keefe, Bruyette & Woods increased their target price on Arch Capital Group from $102.00 to $103.00 and gave the stock a "market perform" rating in a research report on Thursday, August 14th. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Arch Capital Group has a consensus rating of "Moderate Buy" and a consensus target price of $110.31.

Insider Activity at Arch Capital Group

In other news, insider Maamoun Rajeh sold 10,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $94.15, for a total transaction of $941,500.00. Following the transaction, the insider directly owned 433,589 shares in the company, valued at approximately $40,822,404.35. This represents a 2.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.10% 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.

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