Arch Capital Group Ltd. $ACGL Holdings Lifted by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group Inc. increased its stake in Arch Capital Group by 9.4% during Q2, owning over 1 million shares valued at approximately $95 million.
• Wells Fargo raised its price target for Arch Capital Group's stock from $107.00 to $111.00, while other analysts set varied targets ranging from $88.00 to $118.00.
• Arch Capital Group reported $2.58 EPS for the last quarter, exceeding expectations, with a net margin of 19.49% and projected earnings of $8.42 EPS for the fiscal year.

Sumitomo Mitsui Trust Group Inc. boosted its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 9.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,047,021 shares of the insurance provider's stock after acquiring an additional 90,139 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.28% of Arch Capital Group worth $95,331,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Meeder Asset Management Inc. raised its holdings in shares of Arch Capital Group by 116.3% in the 1st quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock worth $27,000 after purchasing an additional 150 shares in the last quarter. Bartlett & CO. Wealth Management LLC acquired a new position in Arch Capital Group in the first quarter worth approximately $27,000. Wayfinding Financial LLC acquired a new position in Arch Capital Group in the first quarter worth approximately $31,000. Zions Bancorporation National Association UT bought a new position in shares of Arch Capital Group in the first quarter valued at $37,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Arch Capital Group by 3,450.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 414 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on Arch Capital Group from $107.00 to $111.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 8th. UBS Group reissued a "buy" rating and issued a $118.00 price target (down previously from $124.00) on shares of Arch Capital Group in a research note on Monday, August 4th. The Goldman Sachs Group set a $88.00 price objective on shares of Arch Capital Group and gave the company a "sell" rating in a research note on Tuesday, October 14th. Cowen reiterated a "buy" rating on shares of Arch Capital Group in a report on Monday, August 4th. Finally, Barclays set a $99.00 price target on shares of Arch Capital Group and gave the company an "equal weight" rating in a report on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $108.71.

Arch Capital Group Stock Performance

ACGL stock opened at $87.15 on Friday. The firm has a 50 day simple moving average of $90.42 and a 200 day simple moving average of $90.80. Arch Capital Group Ltd. has a 52 week low of $82.49 and a 52 week high of $107.19. The stock has a market cap of $32.53 billion, a P/E ratio of 8.99, a P/E/G ratio of 5.05 and a beta of 0.47. 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 (NASDAQ:ACGL - Get Free Report) last released its earnings results 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 net margin of 19.49% and a return on equity of 15.33%. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the prior year, the firm earned $2.57 EPS. Research analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Insider Transactions at Arch Capital Group

In related news, insider Maamoun Rajeh sold 10,000 shares of Arch Capital Group stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total transaction of $941,500.00. Following the completion of the sale, the insider owned 433,589 shares of the company's stock, valued at approximately $40,822,404.35. This trade represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.20% of the company's stock.

About Arch Capital Group

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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