Federated Hermes Inc. Acquires 130,342 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Federated Hermes Inc. grew its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 106.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 253,262 shares of the insurance provider’s stock after purchasing an additional 130,342 shares during the quarter. Federated Hermes Inc.’s holdings in Arch Capital Group were worth $18,810,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ACGL. Vanguard Group Inc. grew its holdings in Arch Capital Group by 2.5% during the first quarter. Vanguard Group Inc. now owns 34,253,429 shares of the insurance provider’s stock valued at $1,658,551,000 after purchasing an additional 846,179 shares during the period. BlackRock Inc. lifted its holdings in Arch Capital Group by 2.1% during the first quarter. BlackRock Inc. now owns 26,059,274 shares of the insurance provider’s stock valued at $1,768,643,000 after purchasing an additional 534,690 shares during the last quarter. WCM Investment Management LLC bought a new position in Arch Capital Group during the first quarter worth about $866,650,000. State Street Corp raised its position in shares of Arch Capital Group by 0.8% in the third quarter. State Street Corp now owns 8,149,909 shares of the insurance provider’s stock valued at $371,147,000 after purchasing an additional 64,171 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Arch Capital Group by 1.6% during the 1st quarter. Geode Capital Management LLC now owns 7,902,500 shares of the insurance provider’s stock valued at $535,165,000 after buying an additional 121,919 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Arch Capital Group Price Performance

ACGL stock opened at $92.93 on Monday. The firm has a 50 day simple moving average of $89.55 and a two-hundred day simple moving average of $84.05. The stock has a market cap of $34.86 billion, a PE ratio of 8.00, a P/E/G ratio of 1.16 and a beta of 0.57. Arch Capital Group Ltd. has a one year low of $69.05 and a one year high of $95.01. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.57 and a quick ratio of 0.57.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Thursday, February 15th. The insurance provider reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.55. Arch Capital Group had a net margin of 32.59% and a return on equity of 21.94%. The company had revenue of $3.98 billion during the quarter, compared to analyst estimates of $3.67 billion. During the same period in the previous year, the business earned $2.14 earnings per share. On average, analysts predict that Arch Capital Group Ltd. will post 8.03 EPS for the current fiscal year.

Insider Transactions at Arch Capital Group

In related news, insider Nicolas Papadopoulo sold 60,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $87.52, for a total transaction of $5,251,200.00. Following the transaction, the insider now directly owns 651,931 shares of the company’s stock, valued at approximately $57,057,001.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Maamoun Rajeh sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total value of $4,374,000.00. Following the completion of the sale, the chief executive officer now directly owns 336,170 shares in the company, valued at approximately $29,408,151.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicolas Papadopoulo sold 60,000 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $87.52, for a total transaction of $5,251,200.00. Following the transaction, the insider now directly owns 651,931 shares in the company, valued at approximately $57,057,001.12. The disclosure for this sale can be found here. In the last three months, insiders sold 135,689 shares of company stock worth $11,872,217. 4.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. StockNews.com downgraded Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. JMP Securities restated a “market outperform” rating and issued a $100.00 target price on shares of Arch Capital Group in a research note on Monday, April 15th. JPMorgan Chase & Co. upped their price target on Arch Capital Group from $88.00 to $92.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. TD Cowen started coverage on shares of Arch Capital Group in a report on Wednesday, January 10th. They issued an “outperform” rating and a $96.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $98.00 target price on shares of Arch Capital Group in a report on Friday, February 16th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.23.

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.