Sumitomo Mitsui Trust Group Inc. Sells 67,756 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 6.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 956,882 shares of the insurance provider's stock after selling 67,756 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of Arch Capital Group worth $92,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Signet Financial Management LLC grew its stake in Arch Capital Group by 37.8% during the first quarter. Signet Financial Management LLC now owns 23,091 shares of the insurance provider's stock worth $2,221,000 after purchasing an additional 6,330 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Arch Capital Group by 324.1% during the 1st quarter. Farther Finance Advisors LLC now owns 4,033 shares of the insurance provider's stock valued at $388,000 after acquiring an additional 3,082 shares during the period. Oppenheimer Asset Management Inc. lifted its position in shares of Arch Capital Group by 10.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 133,282 shares of the insurance provider's stock valued at $12,819,000 after acquiring an additional 12,202 shares during the period. Asahi Life Asset Management CO. LTD. acquired a new position in shares of Arch Capital Group during the 4th quarter valued at $366,000. Finally, William Blair Investment Management LLC lifted its position in shares of Arch Capital Group by 33.7% during the 4th quarter. William Blair Investment Management LLC now owns 624,055 shares of the insurance provider's stock valued at $57,631,000 after acquiring an additional 157,197 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Arch Capital Group Stock Up 0.0%

Shares of NASDAQ:ACGL opened at $90.32 on Monday. The stock has a market cap of $33.85 billion, a price-to-earnings ratio of 9.25, a PEG ratio of 6.24 and a beta of 0.53. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16. Arch Capital Group Ltd. has a 12-month low of $82.49 and a 12-month high of $116.47. The business's 50 day moving average is $92.39 and its 200 day moving average is $92.16.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its earnings results on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.59 by ($0.05). Arch Capital Group had a net margin of 20.72% and a return on equity of 15.79%. The company had revenue of $4.52 billion for the quarter, compared to analysts' expectations of $4.75 billion. During the same period in the previous year, the firm earned $2.45 EPS. The firm's quarterly revenue was up 10.5% on a year-over-year basis. On average, sell-side analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arch Capital Group news, insider Louis T. Petrillo sold 16,650 shares of the business's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $94.53, for a total value of $1,573,924.50. Following the transaction, the insider now owns 140,023 shares of the company's stock, valued at approximately $13,236,374.19. The trade was a 10.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicolas Papadopoulo sold 7,636 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $92.48, for a total value of $706,177.28. Following the completion of the transaction, the chief executive officer now directly owns 795,718 shares in the company, valued at approximately $73,588,000.64. This represents a 0.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,976 shares of company stock valued at $10,531,038. Insiders own 4.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ACGL. JPMorgan Chase & Co. boosted their target price on shares of Arch Capital Group from $106.00 to $107.00 and gave the company a "neutral" rating in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods boosted their target price on shares of Arch Capital Group from $104.00 to $113.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Jefferies Financial Group cut Arch Capital Group from a "buy" rating to a "hold" rating and reduced their price objective for the company from $106.00 to $100.00 in a research note on Tuesday, June 10th. JMP Securities reissued a "market outperform" rating and issued a $125.00 price objective on shares of Arch Capital Group in a research note on Wednesday, April 30th. Finally, UBS Group raised their price objective on Arch Capital Group to $124.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $114.63.

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.

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