DekaBank Deutsche Girozentrale Sells 238 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

DekaBank Deutsche Girozentrale reduced its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.1% in the 2nd quarter, Holdings Channel reports. The firm owned 176,292 shares of the insurance provider’s stock after selling 238 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Arch Capital Group were worth $17,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Arch Capital Group by 0.3% during the first quarter. Vanguard Group Inc. now owns 40,858,890 shares of the insurance provider’s stock worth $3,776,996,000 after buying an additional 104,008 shares in the last quarter. Capital World Investors boosted its stake in Arch Capital Group by 0.6% during the fourth quarter. Capital World Investors now owns 10,611,092 shares of the insurance provider’s stock worth $788,086,000 after buying an additional 58,862 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Arch Capital Group by 4.4% during the second quarter. Principal Financial Group Inc. now owns 7,100,952 shares of the insurance provider’s stock worth $716,415,000 after buying an additional 300,716 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Arch Capital Group by 1.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,907,122 shares of the insurance provider’s stock worth $546,054,000 after buying an additional 99,329 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Arch Capital Group during the fourth quarter valued at $309,496,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ACGL. Barclays began coverage on Arch Capital Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 price objective for the company. Roth Mkm lifted their price objective on Arch Capital Group from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 23rd. StockNews.com cut Arch Capital Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Wells Fargo & Company cut their price objective on Arch Capital Group from $111.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Arch Capital Group from $110.00 to $120.00 and gave the company a “buy” rating in a report on Monday, July 1st. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.93.

Insiders Place Their Bets

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the completion of the sale, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.20% of the company’s stock.

Arch Capital Group Stock Performance

Shares of NASDAQ:ACGL opened at $112.02 on Monday. The stock has a market capitalization of $42.06 billion, a P/E ratio of 8.84, a P/E/G ratio of 1.99 and a beta of 0.60. Arch Capital Group Ltd. has a 1-year low of $72.85 and a 1-year high of $114.65. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $102.58 and a two-hundred day moving average price of $98.14.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.36. The firm had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.92 EPS. Equities analysts predict that Arch Capital Group Ltd. will post 9.01 earnings per share for the current year.

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.