Truist Financial Corp Sells 66,940 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• Truist Financial Corp has decreased its holdings in Arch Capital Group Ltd. by 23.2%, selling 66,940 shares during the second quarter, leaving it with 221,573 shares valued at around $20.17 million.
• Notable activity from other institutional investors includes JPMorgan Chase & Co. increasing its holdings in Arch Capital Group by 30.5% in the first quarter, now owning approximately 7.47 million shares valued at $718.52 million.
• Arch Capital Group recently reported earnings of $2.58 per share for the last quarter, surpassing estimates and indicating a positive trend with expectations of $8.42 earnings per share for the current year.

Truist Financial Corp reduced its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 23.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 221,573 shares of the insurance provider's stock after selling 66,940 shares during the quarter. Truist Financial Corp owned 0.06% of Arch Capital Group worth $20,174,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. JPMorgan Chase & Co. grew its holdings in shares of Arch Capital Group by 30.5% during the first quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider's stock valued at $718,522,000 after buying an additional 1,743,945 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Arch Capital Group by 3.0% during the first quarter. Northern Trust Corp now owns 5,005,790 shares of the insurance provider's stock valued at $481,457,000 after buying an additional 144,986 shares during the last quarter. Madison Asset Management LLC grew its holdings in shares of Arch Capital Group by 9.0% during the first quarter. Madison Asset Management LLC now owns 4,837,602 shares of the insurance provider's stock valued at $465,281,000 after buying an additional 397,857 shares during the last quarter. Egerton Capital UK LLP grew its holdings in shares of Arch Capital Group by 8.5% during the first quarter. Egerton Capital UK LLP now owns 4,325,217 shares of the insurance provider's stock valued at $415,999,000 after buying an additional 337,245 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Arch Capital Group by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,176,984 shares of the insurance provider's stock valued at $401,710,000 after buying an additional 26,160 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Maamoun Rajeh sold 10,000 shares of the business'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 value of $941,500.00. Following the sale, the insider owned 433,589 shares of the company's stock, valued at $40,822,404.35. The trade was a 2.25% 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. 4.20% of the stock is currently owned by company insiders.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $90.79 on Friday. The firm has a market cap of $33.88 billion, a price-to-earnings ratio of 9.37, a P/E/G ratio of 5.45 and a beta of 0.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. Arch Capital Group Ltd. has a 52 week low of $82.49 and a 52 week high of $116.47. The firm's 50-day simple moving average is $90.01 and its two-hundred day simple moving average is $91.13.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.28. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the previous year, the firm posted $2.57 earnings per share. As a group, equities analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ACGL shares. Cowen reiterated a "buy" rating on shares of Arch Capital Group in a report on Monday, August 4th. Keefe, Bruyette & Woods boosted their price target on shares of Arch Capital Group from $102.00 to $103.00 and gave the stock a "market perform" rating in a report on Thursday, August 14th. Jefferies Financial Group cut shares of Arch Capital Group from a "buy" rating to a "hold" rating and cut their price target for the stock from $106.00 to $100.00 in a report on Tuesday, June 10th. UBS Group restated a "buy" rating and set a $118.00 price target (down from $124.00) on shares of Arch Capital Group in a report on Monday, August 4th. Finally, Wells Fargo & Company cut their price target on shares of Arch Capital Group from $110.00 to $107.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $109.36.

Arch Capital Group Company Profile

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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