Sumitomo Mitsui DS Asset Management Company Ltd Has $4.54 Million Stock Position in Arch Capital Group Ltd. $ACGL

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd reduced its stake in Arch Capital Group by 24.0%, selling 15,760 shares and maintaining 49,807 shares valued at approximately $4.54 million.
• Arch Capital Group reported strong earnings, with $2.58 EPS in the last quarter, exceeding estimates of $2.30, alongside revenues of $4.35 billion.
• Institutional investors hold a significant 89.07% of Arch Capital Group's stock, indicating strong institutional interest in the company.

Sumitomo Mitsui DS Asset Management Company Ltd decreased its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 24.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,807 shares of the insurance provider's stock after selling 15,760 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Arch Capital Group were worth $4,535,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Capital A Wealth Management LLC acquired a new position in shares of Arch Capital Group in the 4th quarter valued at $25,000. Meeder Asset Management Inc. boosted its position 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 during the last quarter. Bartlett & CO. Wealth Management LLC bought a new position in shares of Arch Capital Group in the 1st quarter worth $27,000. Wayfinding Financial LLC bought a new position in shares of Arch Capital Group in the 1st quarter worth $31,000. Finally, Zions Bancorporation National Association UT bought a new position in shares of Arch Capital Group in the 1st quarter worth $37,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Arch Capital Group Stock Up 0.3%

ACGL stock traded up $0.24 during trading hours on Tuesday, reaching $88.27. 690,517 shares of the stock were exchanged, compared to its average volume of 1,942,787. The firm's 50-day moving average is $89.73 and its 200-day moving average is $91.22. The company has a market cap of $32.94 billion, a price-to-earnings ratio of 9.12, a PEG ratio of 5.41 and a beta of 0.51. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56. Arch Capital Group Ltd. has a 12 month low of $82.49 and a 12 month high of $116.47.

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

Insider Transactions at Arch Capital Group

In other Arch Capital Group news, insider Maamoun Rajeh sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $94.15, for a total transaction of $941,500.00. Following the completion of the sale, the insider directly owned 433,589 shares in the company, valued at $40,822,404.35. This trade represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 4.10% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Arch Capital Group from $102.00 to $103.00 and gave the company a "market perform" rating in a research report on Thursday, August 14th. Jefferies Financial Group cut shares of Arch Capital Group from a "buy" rating to a "hold" rating and lowered their price objective for the company from $106.00 to $100.00 in a research report on Tuesday, June 10th. Citigroup assumed coverage on shares of Arch Capital Group in a research report on Wednesday, August 13th. They issued a "buy" rating and a $113.00 price objective for the company. UBS Group restated a "buy" rating and issued a $118.00 price objective (down previously from $124.00) on shares of Arch Capital Group in a research report on Monday, August 4th. Finally, Wolfe Research assumed coverage on shares of Arch Capital Group in a research report on Monday, September 15th. They issued a "peer perform" rating for the company. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Arch Capital Group has a consensus rating of "Moderate Buy" and an average target price of $109.36.

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.