Federated Hermes Inc. Reduces Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Key Points

• Federated Hermes Inc. has reduced its stake in Arch Capital Group Ltd. by 12.9%, selling 153,023 shares, and now owns approximately 0.27% of the company valued at $98.97 million.
• Several institutional investors have increased their holdings in Arch Capital Group, with Crossmark Global Holdings growing its stake by 24.7% and World Investment Advisors increasing theirs by 114.1% in the first quarter.
• Analysts have mixed opinions on Arch Capital Group's stock, with price targets ranging from $93.00 to $125.00, and the overall consensus rating being a "Moderate Buy."

Federated Hermes Inc. reduced its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 12.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,028,976 shares of the insurance provider's stock after selling 153,023 shares during the period. Federated Hermes Inc. owned approximately 0.27% of Arch Capital Group worth $98,967,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its holdings in Arch Capital Group by 116.3% in the 1st quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock valued at $27,000 after acquiring an additional 150 shares in the last quarter. Kinsale Capital Group Inc. raised its holdings in Arch Capital Group by 14.6% in the 1st quarter. Kinsale Capital Group Inc. now owns 78,068 shares of the insurance provider's stock valued at $7,509,000 after acquiring an additional 9,953 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Arch Capital Group by 6.0% in the 1st quarter. Mackenzie Financial Corp now owns 76,035 shares of the insurance provider's stock valued at $7,313,000 after acquiring an additional 4,291 shares in the last quarter. TCW Group Inc. increased its stake in shares of Arch Capital Group by 0.5% in the 1st quarter. TCW Group Inc. now owns 78,713 shares of the insurance provider's stock valued at $7,571,000 after purchasing an additional 364 shares during the last quarter. Finally, LPL Financial LLC increased its stake in shares of Arch Capital Group by 8.0% in the 1st quarter. LPL Financial LLC now owns 418,343 shares of the insurance provider's stock valued at $40,236,000 after purchasing an additional 30,825 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Arch Capital Group

In other Arch Capital Group news, insider John M. Pasquesi sold 75,060 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $94.01, for a total value of $7,056,390.60. Following the completion of the sale, the insider directly owned 579,218 shares in the company, valued at $54,452,284.18. This trade represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Francois Morin sold 12,630 shares of Arch Capital Group stock in a transaction on Friday, May 16th. The stock was sold at an average price of $94.58, for a total transaction of $1,194,545.40. Following the sale, the chief financial officer owned 274,681 shares of the company's stock, valued at $25,979,328.98. The trade was a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,340 shares of company stock valued at $9,824,861. 4.20% of the stock is currently owned by company insiders.

Arch Capital Group Price Performance

Arch Capital Group stock traded up $1.94 during mid-day trading on Friday, hitting $88.00. The stock had a trading volume of 2,846,752 shares, compared to its average volume of 2,782,390. The firm has a market capitalization of $32.98 billion, a P/E ratio of 9.08, a P/E/G ratio of 6.54 and a beta of 0.49. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16. The firm's 50 day moving average is $90.33 and its 200 day moving average is $91.62. Arch Capital Group Ltd. has a one year low of $82.49 and a one year high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.30 by $0.28. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.29 billion. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. During the same quarter in the prior year, the firm earned $2.57 EPS. On average, sell-side analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Jefferies Financial Group lowered Arch Capital Group from a "buy" rating to a "hold" rating and decreased their price target for the company from $106.00 to $100.00 in a research note on Tuesday, June 10th. JPMorgan Chase & Co. boosted their price objective on Arch Capital Group from $106.00 to $107.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. Barclays reduced their price objective on Arch Capital Group from $100.00 to $93.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company reduced their price objective on Arch Capital Group from $110.00 to $107.00 and set an "overweight" rating on the stock in a research report on Thursday. Finally, JMP Securities restated a "market outperform" rating and set a $125.00 price objective on shares of Arch Capital Group in a research report on Wednesday, April 30th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Arch Capital Group currently has a consensus rating of "Moderate Buy" and an average target price of $113.40.

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.