Allspring Global Investments Holdings LLC Sells 105,658 Shares of Arch Capital Group Ltd. $ACGL

Allspring Global Investments Holdings LLC trimmed its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,665,969 shares of the insurance provider’s stock after selling 105,658 shares during the quarter. Arch Capital Group comprises approximately 0.6% of Allspring Global Investments Holdings LLC’s holdings, making the stock its 27th largest position. Allspring Global Investments Holdings LLC owned 1.01% of Arch Capital Group worth $344,088,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WealthCollab LLC boosted its holdings in Arch Capital Group by 410.3% during the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 238 shares during the period. JPL Wealth Management LLC bought a new position in shares of Arch Capital Group in the third quarter worth about $28,000. Aventura Private Wealth LLC acquired a new position in shares of Arch Capital Group during the 4th quarter worth about $30,000. Grove Bank & Trust acquired a new position in shares of Arch Capital Group during the 4th quarter worth about $30,000. Finally, Cornerstone Planning Group LLC boosted its stake in Arch Capital Group by 426.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 384 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 311 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL opened at $95.62 on Tuesday. The firm has a market capitalization of $34.07 billion, a PE ratio of 8.23, a PEG ratio of 3.80 and a beta of 0.40. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.13. Arch Capital Group Ltd. has a 1-year low of $82.44 and a 1-year high of $103.39. The business’s 50 day moving average is $96.34 and its 200-day moving average is $93.21.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Monday, February 9th. The insurance provider reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.64. The business had revenue of $4.93 billion during the quarter, compared to analyst estimates of $3.94 billion. Arch Capital Group had a return on equity of 16.73% and a net margin of 22.07%.During the same period in the prior year, the company posted $2.26 earnings per share. Sell-side analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Insider Buying and Selling at Arch Capital Group

In other Arch Capital Group news, insider David Gansberg sold 5,907 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $96.37, for a total transaction of $569,257.59. Following the completion of the transaction, the insider owned 336,559 shares in the company, valued at $32,434,190.83. This trade represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicolas Papadopoulo sold 21,930 shares of Arch Capital Group stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $96.31, for a total value of $2,112,078.30. Following the sale, the chief executive officer directly owned 871,594 shares in the company, valued at $83,943,218.14. The trade was a 2.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 78,267 shares of company stock valued at $7,291,637 in the last 90 days. Insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ACGL shares. JPMorgan Chase & Co. raised their target price on Arch Capital Group from $111.00 to $117.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Roth Mkm set a $110.00 price objective on Arch Capital Group and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Barclays set a $104.00 target price on shares of Arch Capital Group and gave the stock an “equal weight” rating in a research report on Thursday, January 8th. Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 target price (up from $97.00) on shares of Arch Capital Group in a research note on Tuesday, February 17th. Finally, UBS Group reissued a “buy” rating and issued a $114.00 price target (up from $113.00) on shares of Arch Capital Group in a report on Tuesday, February 17th. Nine analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $109.20.

Arch Capital Group Company 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.