Sumitomo Mitsui Trust Group Inc. Increases Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,002,798 shares of the insurance provider’s stock after purchasing an additional 10,817 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.27% of Arch Capital Group worth $112,193,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ACGL. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in Arch Capital Group by 2.9% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 11,459 shares of the insurance provider’s stock worth $1,282,000 after purchasing an additional 318 shares in the last quarter. Apollon Wealth Management LLC raised its stake in shares of Arch Capital Group by 31.0% during the 3rd quarter. Apollon Wealth Management LLC now owns 6,105 shares of the insurance provider’s stock worth $683,000 after buying an additional 1,443 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Arch Capital Group by 59.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 13,632 shares of the insurance provider’s stock valued at $1,525,000 after buying an additional 5,079 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Arch Capital Group in the third quarter valued at approximately $50,000. Finally, Axxcess Wealth Management LLC grew its holdings in Arch Capital Group by 4.2% during the third quarter. Axxcess Wealth Management LLC now owns 67,365 shares of the insurance provider’s stock worth $7,537,000 after acquiring an additional 2,699 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Arch Capital Group Stock Performance

NASDAQ:ACGL opened at $101.18 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market cap of $38.07 billion, a PE ratio of 6.79, a P/E/G ratio of 1.46 and a beta of 0.61. The firm has a 50 day simple moving average of $108.45 and a 200-day simple moving average of $103.19. Arch Capital Group Ltd. has a 1-year low of $72.85 and a 1-year high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.05. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the previous year, the firm posted $2.31 EPS. On average, equities analysts expect that Arch Capital Group Ltd. will post 9 EPS for the current year.

Arch Capital Group Announces Dividend

The firm also recently declared a special dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th will be paid a $5.00 dividend. The ex-dividend date of this dividend is Monday, November 18th.

Analyst Upgrades and Downgrades

ACGL has been the subject of a number of recent analyst reports. JMP Securities raised their target price on Arch Capital Group from $115.00 to $125.00 and gave the company a “market outperform” rating in a report on Tuesday, October 15th. Jefferies Financial Group raised their price objective on shares of Arch Capital Group from $114.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. StockNews.com lowered shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Roth Mkm boosted their price target on Arch Capital Group from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, BMO Capital Markets upped their price target on Arch Capital Group from $98.00 to $104.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $118.88.

Insider Buying and Selling at Arch Capital Group

In other news, CFO Francois Morin sold 11,460 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the transaction, the chief financial officer now directly owns 221,779 shares in the company, valued at $22,723,476.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.20% of the stock is owned by company insiders.

Arch Capital Group Company Profile

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.