Prudential PLC Has $15.58 Million Stock Position in Arch Capital Group Ltd. $ACGL

Key Points

• Prudential PLC reduced its stake in Arch Capital Group by 12.4% in the fourth quarter, leaving it with 162,414 shares valued at about $15.58 million.
• Institutional ownership remains heavy, with 89.07% of Arch Capital Group’s stock held by institutions and hedge funds. Several other large investors increased their positions, including JPMorgan Chase, Legal & General, and Allianz Asset Management.
• Insider selling has also been notable: CEO Nicolas Papadopoulo and director Brian S. Posner sold shares over the past few months, while analysts currently rate the stock a consensus “Hold” with an average price target of $106.32.

Prudential PLC trimmed its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 12.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 162,414 shares of the insurance provider's stock after selling 23,052 shares during the quarter. Prudential PLC's holdings in Arch Capital Group were worth $15,579,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Allianz Asset Management GmbH increased its holdings in Arch Capital Group by 12.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 192,567 shares of the insurance provider's stock worth $17,472,000 after purchasing an additional 21,323 shares in the last quarter. Legal & General Group Plc increased its holdings in Arch Capital Group by 4.3% in the 4th quarter. Legal & General Group Plc now owns 2,944,169 shares of the insurance provider's stock worth $282,405,000 after purchasing an additional 121,090 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Arch Capital Group by 4.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,190,927 shares of the insurance provider's stock worth $743,168,000 after purchasing an additional 360,626 shares in the last quarter. NEOS Investment Management LLC increased its holdings in Arch Capital Group by 49.1% in the 3rd quarter. NEOS Investment Management LLC now owns 49,652 shares of the insurance provider's stock worth $4,505,000 after purchasing an additional 16,343 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in Arch Capital Group by 10.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 187,002 shares of the insurance provider's stock worth $18,024,000 after purchasing an additional 17,923 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Nicolas Papadopoulo sold 21,930 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $96.31, for a total transaction of $2,112,078.30. Following the completion of the sale, the chief executive officer owned 871,594 shares of the company's stock, valued at $83,943,218.14. This trade represents a 2.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Brian S. Posner sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total value of $58,980.00. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 35,837 shares of company stock worth $2,825,926. Company insiders own 3.30% of the company's stock.

Wall Street Analyst Weigh In

ACGL has been the topic of a number of analyst reports. UBS Group reiterated a "buy" rating and issued a $114.00 price target (up from $113.00) on shares of Arch Capital Group in a research report on Tuesday, February 17th. Barclays upped their price target on Arch Capital Group from $104.00 to $106.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 8th. Morgan Stanley set a $105.00 price target on Arch Capital Group in a research report on Friday, May 1st. Keefe, Bruyette & Woods reduced their price target on Arch Capital Group from $105.00 to $102.00 and set a "market perform" rating on the stock in a research report on Tuesday, May 5th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $100.00 price target (up from $97.00) on shares of Arch Capital Group in a research report on Tuesday, February 17th. Eight equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Arch Capital Group has an average rating of "Hold" and an average price target of $106.32.

Arch Capital Group Trading Up 3.2%

NASDAQ ACGL opened at $91.19 on Friday. The business's 50-day moving average price is $94.86 and its two-hundred day moving average price is $95.04. Arch Capital Group Ltd. has a 12 month low of $82.44 and a 12 month high of $103.39. The firm has a market capitalization of $31.86 billion, a PE ratio of 7.00, a price-to-earnings-growth ratio of 4.85 and a beta of 0.32. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.15.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its earnings results on Tuesday, March 31st. The insurance provider reported $2.50 EPS for the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%.The company had revenue of $4.52 billion for the quarter. On average, analysts expect that Arch Capital Group Ltd. will post 9.29 EPS for the current year.

About Arch Capital Group

Arch Capital Group Ltd. NASDAQ: ACGL is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch's product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.

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