Arch Capital Group Ltd. $ACGL Shares Purchased by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its Arch Capital stake by 8.6% in the third quarter, adding 354,742 shares to reach 4.49 million shares, valued at about $423.7 million. Institutional investors own 89.07% of the company.
• Arch Capital reported quarterly EPS of $2.67, topping the $2.31 consensus, and revenue of $4.66 billion versus estimates of $4.06 billion.
• Analyst sentiment is mixed: seven analysts rate ACGL Buy, eight Hold, and one Sell. The consensus rating is Hold, with an average price target of $111.65.

Allspring Global Investments Holdings LLC grew its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 8.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,494,644 shares of the insurance provider's stock after buying an additional 354,742 shares during the quarter. Arch Capital Group accounts for 0.7% of Allspring Global Investments Holdings LLC's investment portfolio, making the stock its 22nd biggest position. Allspring Global Investments Holdings LLC owned 1.32% of Arch Capital Group worth $423,665,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Horizons Wealth Management purchased a new position in Arch Capital Group in the third quarter worth $25,000. Torren Management LLC increased its stake in Arch Capital Group by 66.9% in the second quarter. Torren Management LLC now owns 292 shares of the insurance provider's stock valued at $28,000 after acquiring an additional 117 shares during the last quarter. Continuum Advisory LLC bought a new position in Arch Capital Group in the second quarter valued at $46,000. Provenance Wealth Advisors LLC bought a new position in Arch Capital Group in the third quarter valued at $55,000. Finally, Allied Private Wealth LLC purchased a new stake in Arch Capital Group during the second quarter valued at about $69,000. 89.07% of the stock is owned by institutional investors.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL opened at $107.28 on Monday. The stock has a market cap of $36.61 billion, a PE ratio of 8.77, a PEG ratio of 3.52 and a beta of 0.22. The company's fifty day moving average is $98.84 and its 200 day moving average is $97.22. Arch Capital Group Ltd. has a 52 week low of $87.05 and a 52 week high of $113.63. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.21.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The insurance provider reported $2.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.36. Arch Capital Group had a net margin of 23.31% and a return on equity of 16.62%. The business had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same period in the prior year, the business posted $2.77 earnings per share. Research analysts anticipate that Arch Capital Group Ltd. will post 10.18 earnings per share for the current year.

Insider Activity at Arch Capital Group

In other news, CFO Francois Morin sold 11,010 shares of Arch Capital Group stock in a transaction dated 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 approximately $18,356,918.32. The trade was a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. UBS Group lifted their price target on Arch Capital Group from $120.00 to $125.00 and gave the stock a "buy" rating in a research note on Monday, November 2nd. Jefferies Financial Group upped their price objective on Arch Capital Group from $102.00 to $106.00 and gave the stock a "hold" rating in a report on Thursday, October 29th. Atlantic Securities set a $126.00 price objective on Arch Capital Group in a research report on Wednesday, July 15th. Morgan Stanley set a $103.00 price objective on Arch Capital Group and gave the company an "equal weight" rating in a report on Thursday, October 29th. Finally, Wells Fargo & Company boosted their target price on Arch Capital Group from $107.00 to $119.00 and gave the stock an "overweight" rating in a research report on Monday, November 2nd. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $111.65.

About Arch Capital Group

Arch Capital Group Ltd. is a global insurance and reinsurance company headquartered in Bermuda. Through its insurance, reinsurance and mortgage insurance operations, it provides coverage and risk-management solutions to businesses, financial institutions and other customers.

The company's offerings include property and casualty insurance, specialty coverage and reinsurance for risks such as property, casualty and professional liability. Its mortgage insurance business serves lenders and borrowers, primarily in the United States.

Arch conducts business in multiple markets around the world through subsidiaries and operating units.

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