Federated Hermes Inc. Sells 52,047 Shares of Arch Capital Group Ltd. $ACGL

Federated Hermes Inc. lowered its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 5.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 976,929 shares of the insurance provider’s stock after selling 52,047 shares during the quarter. Federated Hermes Inc. owned approximately 0.26% of Arch Capital Group worth $88,949,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Zions Bancorporation National Association UT acquired a new position in shares of Arch Capital Group during the 1st quarter worth approximately $37,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Arch Capital Group by 3,450.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the insurance provider’s stock valued at $39,000 after buying an additional 414 shares during the last quarter. TD Waterhouse Canada Inc. grew its stake in shares of Arch Capital Group by 31.4% in the second quarter. TD Waterhouse Canada Inc. now owns 469 shares of the insurance provider’s stock valued at $43,000 after buying an additional 112 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Arch Capital Group by 157.9% during the first quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider’s stock worth $65,000 after buying an additional 412 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new position in Arch Capital Group during the second quarter worth $73,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Arch Capital Group Stock Down 0.7%

ACGL stock opened at $91.72 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.55 and a quick ratio of 0.55. The stock has a market capitalization of $33.26 billion, a price-to-earnings ratio of 8.58, a PEG ratio of 2.14 and a beta of 0.47. The business’s fifty day moving average price is $90.21 and its two-hundred day moving average price is $90.34. Arch Capital Group Ltd. has a fifty-two week low of $82.44 and a fifty-two week high of $98.81.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Monday, October 27th. The insurance provider reported $2.77 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the previous year, the business posted $1.99 earnings per share. On average, equities analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Insider Transactions at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 8,000 shares of the business’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $94.62, for a total value of $756,960.00. Following the completion of the sale, the chief financial officer owned 266,681 shares of the company’s stock, valued at $25,233,356.22. The trade was a 2.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on ACGL. Wells Fargo & Company cut their price target on shares of Arch Capital Group from $111.00 to $106.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Morgan Stanley upped their target price on shares of Arch Capital Group from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Wolfe Research initiated coverage on shares of Arch Capital Group in a research note on Monday, September 15th. They issued a “peer perform” rating for the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $98.00 price target on shares of Arch Capital Group in a report on Tuesday, October 28th. Finally, Barclays set a $99.00 target price on Arch Capital Group and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Arch Capital Group presently has an average rating of “Hold” and an average target price of $106.85.

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.