Sumitomo Mitsui Trust Group Inc. Sells 47,056 Shares of Arch Capital Group Ltd. $ACGL

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 4.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 999,965 shares of the insurance provider’s stock after selling 47,056 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.27% of Arch Capital Group worth $90,727,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ACGL. Mainstay Capital Management LLC ADV acquired a new stake in Arch Capital Group in the 2nd quarter valued at approximately $363,000. Osaic Holdings Inc. boosted its position in shares of Arch Capital Group by 550.1% in the second quarter. Osaic Holdings Inc. now owns 109,984 shares of the insurance provider’s stock valued at $10,513,000 after acquiring an additional 93,067 shares during the period. Bryn Mawr Trust Advisors LLC acquired a new stake in shares of Arch Capital Group in the second quarter worth $371,000. Exchange Traded Concepts LLC increased its position in Arch Capital Group by 2,079.5% during the third quarter. Exchange Traded Concepts LLC now owns 39,885 shares of the insurance provider’s stock worth $3,619,000 after acquiring an additional 38,055 shares during the period. Finally, Polianta Ltd acquired a new position in Arch Capital Group during the 3rd quarter valued at $1,451,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Price Performance

Shares of ACGL opened at $91.29 on Thursday. Arch Capital Group Ltd. has a 52-week low of $82.44 and a 52-week high of $97.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a 50 day simple moving average of $93.53 and a 200 day simple moving average of $90.87. The firm has a market capitalization of $33.10 billion, a PE ratio of 8.54, a P/E/G ratio of 2.04 and a beta of 0.45.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Monday, October 27th. The insurance provider reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $1.01. Arch Capital Group had a net margin of 20.96% and a return on equity of 16.38%. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same period in the prior year, the business earned $1.99 EPS. Sell-side analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ACGL. Cantor Fitzgerald restated an “overweight” rating and set a $97.00 price objective on shares of Arch Capital Group in a research report on Wednesday. Roth Capital set a $110.00 price objective on shares of Arch Capital Group and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Morgan Stanley increased their price target on shares of Arch Capital Group from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Wells Fargo & Company decreased their price objective on Arch Capital Group from $111.00 to $106.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. upped their price objective on Arch Capital Group from $111.00 to $117.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Eight research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $106.53.

Insider Activity at Arch Capital Group

In related news, insider John M. Pasquesi sold 8,800 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $94.17, for a total transaction of $828,696.00. Following the completion of the transaction, the insider owned 289,556 shares in the company, valued at approximately $27,267,488.52. This represents a 2.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Francois Morin sold 8,000 shares of Arch Capital Group stock in a transaction on Friday, November 28th. The shares were sold at an average price of $94.62, for a total transaction of $756,960.00. Following the completion of the sale, the chief financial officer owned 266,681 shares in the company, valued at $25,233,356.22. The trade was a 2.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 220,666 shares of company stock worth $20,728,673 in the last 90 days. Company insiders own 4.20% of the company’s stock.

Arch Capital Group Profile

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.