Truist Financial Corp Sells 27,748 Shares of Arch Capital Group Ltd. $ACGL

Truist Financial Corp decreased its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 12.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 193,825 shares of the insurance provider’s stock after selling 27,748 shares during the quarter. Truist Financial Corp owned about 0.05% of Arch Capital Group worth $17,586,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ACGL. Quent Capital LLC bought a new stake in shares of Arch Capital Group during the 3rd quarter valued at about $37,000. Richardson Financial Services Inc. boosted its position in Arch Capital Group by 63.3% during the 3rd quarter. Richardson Financial Services Inc. now owns 418 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 162 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Arch Capital Group by 3,450.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 414 shares in the last quarter. TD Waterhouse Canada Inc. raised its position in shares of Arch Capital Group by 31.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 469 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 112 shares in the last quarter. Finally, Root Financial Partners LLC bought a new position in shares of Arch Capital Group in the 3rd quarter worth approximately $54,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $96.04 on Friday. The company has a market capitalization of $34.83 billion, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 2.01 and a beta of 0.45. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.55 and a current ratio of 0.55. Arch Capital Group Ltd. has a one year low of $82.44 and a one year high of $97.60. The company’s 50-day moving average is $93.95 and its 200 day moving average is $91.15.

Insiders Place Their Bets

In other news, insider John M. Pasquesi sold 8,800 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $94.17, for a total value of $828,696.00. Following the completion of the transaction, the insider owned 289,556 shares in the company, valued at $27,267,488.52. The trade was a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Francois Morin sold 8,000 shares of the company’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $94.62, for a total value of $756,960.00. Following the transaction, the chief financial officer directly owned 266,681 shares in the company, valued at approximately $25,233,356.22. The trade was a 2.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 220,666 shares of company stock valued at $20,728,673. Corporate insiders own 4.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ACGL. Roth Mkm set a $110.00 price target on Arch Capital Group and gave the stock a “buy” rating in a research note on Tuesday, December 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $97.00 target price (up from $93.00) on shares of Arch Capital Group in a research report on Wednesday, January 14th. Keefe, Bruyette & Woods increased their price target on shares of Arch Capital Group from $100.00 to $102.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 6th. Citigroup reissued a “market outperform” rating on shares of Arch Capital Group in a research note on Friday, January 16th. Finally, Morgan Stanley set a $125.00 price objective on shares of Arch Capital Group in a report on Friday, January 16th. Eight investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $107.53.

About Arch Capital Group

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.