Arch Capital Group Ltd. (NASDAQ:ACGL) Shares Acquired by Truist Financial Corp

Truist Financial Corp increased its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 4.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 786,818 shares of the insurance provider’s stock after acquiring an additional 36,566 shares during the period. Truist Financial Corp’s holdings in Arch Capital Group were worth $79,382,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ACGL. Capital International Investors grew its holdings in shares of Arch Capital Group by 61.1% in the 1st quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock worth $380,167,000 after acquiring an additional 1,560,173 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Arch Capital Group by 61.6% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,191,282 shares of the insurance provider’s stock worth $237,017,000 after acquiring an additional 1,216,080 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Arch Capital Group by 11.4% in the 1st quarter. Principal Financial Group Inc. now owns 6,800,236 shares of the insurance provider’s stock worth $628,614,000 after acquiring an additional 693,608 shares during the period. Gladstone Capital Management LLP grew its holdings in shares of Arch Capital Group by 52.8% in the 4th quarter. Gladstone Capital Management LLP now owns 1,385,307 shares of the insurance provider’s stock worth $102,887,000 after acquiring an additional 478,570 shares during the period. Finally, Brandes Investment Partners LP acquired a new stake in shares of Arch Capital Group in the 2nd quarter worth approximately $48,119,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

ACGL has been the topic of a number of recent research reports. Wells Fargo & Company reduced their target price on Arch Capital Group from $111.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. StockNews.com lowered Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their target price on Arch Capital Group from $106.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Bank of America reduced their target price on Arch Capital Group from $119.00 to $118.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Finally, Barclays initiated coverage on Arch Capital Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 target price on the stock. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $113.73.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the sale, the chief financial officer now owns 221,779 shares of the company’s stock, valued at $22,723,476.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.20% of the stock is owned by insiders.

Arch Capital Group Stock Up 1.5 %

Shares of NASDAQ:ACGL opened at $113.51 on Wednesday. Arch Capital Group Ltd. has a 1 year low of $72.85 and a 1 year high of $114.69. The stock has a 50-day simple moving average of $106.39 and a 200-day simple moving average of $100.18. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a market capitalization of $42.69 billion, a P/E ratio of 8.96, a PEG ratio of 2.05 and a beta of 0.60.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.36. The company had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.92 earnings per share. Equities analysts forecast 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.