US Bancorp DE Sells 3,271 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

US Bancorp DE decreased its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 4.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 77,704 shares of the insurance provider’s stock after selling 3,271 shares during the quarter. US Bancorp DE’s holdings in Arch Capital Group were worth $8,694,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Arch Capital Group by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 40,858,890 shares of the insurance provider’s stock worth $3,776,996,000 after purchasing an additional 104,008 shares in the last quarter. Principal Financial Group Inc. lifted its position in Arch Capital Group by 4.4% in the 2nd 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 during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Arch Capital Group by 1.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,124,251 shares of the insurance provider’s stock worth $573,301,000 after buying an additional 49,426 shares in the last quarter. Capital International Investors grew its position in Arch Capital Group by 61.1% during the first quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock valued at $380,167,000 after acquiring an additional 1,560,173 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Arch Capital Group by 6.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,925,288 shares of the insurance provider’s stock worth $396,026,000 after acquiring an additional 244,285 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Stock Down 2.6 %

Shares of Arch Capital Group stock opened at $96.02 on Monday. The company’s fifty day simple moving average is $110.43 and its two-hundred day simple moving average is $102.79. Arch Capital Group Ltd. has a 12-month low of $72.85 and a 12-month high of $116.47. The company has a current ratio of 0.58, a quick ratio of 0.60 and a debt-to-equity ratio of 0.17. The company has a market cap of $36.11 billion, a P/E ratio of 6.44, a PEG ratio of 1.83 and a beta of 0.61.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.05. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. The company had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter in the previous year, the company earned $2.31 earnings per share. Research analysts anticipate that Arch Capital Group Ltd. will post 9.05 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on ACGL shares. Evercore ISI increased their target price on shares of Arch Capital Group from $104.00 to $107.00 and gave the company an “in-line” rating in a report on Wednesday, October 9th. Roth Mkm lifted their price objective on Arch Capital Group from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Citigroup boosted their target price on Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. JMP Securities raised their price target on Arch Capital Group from $115.00 to $125.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. boosted their price objective on Arch Capital Group from $108.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $120.40.

Insider Activity

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the transaction, the chief financial officer now owns 221,779 shares in the company, valued at approximately $22,723,476.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.20% of the stock is currently owned by company insiders.

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.