Sumitomo Mitsui DS Asset Management Company Ltd Sells 15,760 Shares of Arch Capital Group Ltd. $ACGL

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 24.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,807 shares of the insurance provider’s stock after selling 15,760 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Arch Capital Group were worth $4,535,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Capital A Wealth Management LLC acquired a new stake in shares of Arch Capital Group during the 4th quarter worth $25,000. Bartlett & CO. Wealth Management LLC acquired a new stake in Arch Capital Group during the 1st quarter worth about $27,000. Meeder Asset Management Inc. grew its holdings in Arch Capital Group by 116.3% during the 1st quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 150 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Arch Capital Group in the 1st quarter valued at about $31,000. Finally, Zions Bancorporation National Association UT acquired a new position in Arch Capital Group during the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Stock Up 0.2%

ACGL stock opened at $88.40 on Friday. Arch Capital Group Ltd. has a one year low of $82.49 and a one year high of $116.47. The company has a 50 day moving average price of $89.78 and a two-hundred day moving average price of $91.24. The stock has a market capitalization of $32.99 billion, a P/E ratio of 9.12, a PEG ratio of 5.41 and a beta of 0.51. 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 (NASDAQ:ACGL) last released its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.28. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.29 billion. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. During the same quarter in the previous year, the firm earned $2.57 EPS. As a group, sell-side analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Insider Activity at Arch Capital Group

In other news, insider Maamoun Rajeh sold 10,000 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $94.15, for a total transaction of $941,500.00. Following the transaction, the insider owned 433,589 shares in the company, valued at $40,822,404.35. This represents a 2.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on ACGL. Citigroup began coverage on shares of Arch Capital Group in a research report on Wednesday, August 13th. They set a “buy” rating and a $113.00 price target for the company. Cowen restated a “buy” rating on shares of Arch Capital Group in a report on Monday, August 4th. Jefferies Financial Group downgraded shares of Arch Capital Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $106.00 to $100.00 in a research report on Tuesday, June 10th. Keefe, Bruyette & Woods lifted their price target on shares of Arch Capital Group from $102.00 to $103.00 and gave the company a “market perform” rating in a report on Thursday, August 14th. Finally, Wolfe Research began coverage on shares of Arch Capital Group in a research note on Monday, September 15th. They issued a “peer perform” rating for the company. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.36.

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.