Sumitomo Mitsui Trust Group Inc. Has $91.92 Million Holdings in Arch Capital Group Ltd. $ACGL

Key Points

• Sumitomo Mitsui Trust Group trimmed its Arch Capital Group stake by 7.4% in the first quarter, but still held 957,646 shares valued at about $91.9 million.
• Analyst sentiment remains mixed: Citigroup raised its price target to $122.50, while JPMorgan cut its target to $110 and kept a neutral rating. Overall, Arch Capital has a Hold consensus and an average target price of $108.12.
• Arch Capital shares fell 0.6% to $101.06, and the company recently reported quarterly earnings of $2.50 per share on $4.52 billion in revenue. Insider activity was mixed, with one director selling shares and another buying more.

Sumitomo Mitsui Trust Group Inc. lessened its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 7.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 957,646 shares of the insurance provider's stock after selling 76,188 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.27% of Arch Capital Group worth $91,924,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ACGL. Elyxium Wealth LLC acquired a new position in shares of Arch Capital Group during the 4th quarter worth about $27,000. WealthCollab LLC raised its position in shares of Arch Capital Group by 410.3% in the 3rd quarter. WealthCollab LLC now owns 296 shares of the insurance provider's stock valued at $27,000 after acquiring an additional 238 shares during the period. JPL Wealth Management LLC bought a new position in Arch Capital Group during the 3rd quarter worth approximately $28,000. Grove Bank & Trust bought a new position in Arch Capital Group during the 4th quarter worth approximately $30,000. Finally, Aventura Private Wealth LLC acquired a new position in Arch Capital Group during the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Analysts Set New Price Targets

ACGL has been the topic of several analyst reports. Weiss Ratings lowered shares of Arch Capital Group from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, May 18th. Citigroup boosted their price target on shares of Arch Capital Group from $120.00 to $122.50 and gave the company a "buy" rating in a report on Thursday, April 30th. JPMorgan Chase & Co. lowered their price objective on shares of Arch Capital Group from $117.00 to $110.00 and set a "neutral" rating for the company in a research report on Monday, April 20th. Wells Fargo & Company raised their price objective on Arch Capital Group from $110.00 to $114.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Barclays lifted their target price on Arch Capital Group from $104.00 to $106.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 8th. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Arch Capital Group has an average rating of "Hold" and a consensus target price of $108.12.

Insiders Place Their Bets

In related news, Director Brian S. Posner sold 3,000 shares of the firm's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total transaction of $58,980.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel Joseph Houston acquired 5,300 shares of the business's stock in a transaction that occurred on Thursday, April 30th. The stock was bought at an average cost of $94.08 per share, for a total transaction of $498,624.00. Following the completion of the transaction, the director directly owned 9,915 shares in the company, valued at $932,803.20. This represents a 114.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 3.30% of the company's stock.

Arch Capital Group Stock Down 0.6%

NASDAQ ACGL traded down $0.64 during trading hours on Friday, reaching $101.06. 1,285,042 shares of the company's stock were exchanged, compared to its average volume of 1,953,738. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market capitalization of $35.31 billion, a price-to-earnings ratio of 7.76, a price-to-earnings-growth ratio of 5.10 and a beta of 0.31. The company's 50-day moving average is $94.44 and its two-hundred day moving average is $95.49. Arch Capital Group Ltd. has a one year low of $82.44 and a one year high of $105.09.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share for the quarter. The firm had revenue of $4.52 billion for the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. On average, analysts forecast that Arch Capital Group Ltd. will post 9.28 EPS for the current fiscal 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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