Federated Hermes Inc. Sells 52,047 Shares of Arch Capital Group Ltd. $ACGL

Federated Hermes Inc. reduced its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 5.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 976,929 shares of the insurance provider’s stock after selling 52,047 shares during the quarter. Federated Hermes Inc.’s holdings in Arch Capital Group were worth $88,949,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Zions Bancorporation National Association UT bought a new stake in Arch Capital Group during the first quarter worth about $37,000. Caitong International Asset Management Co. Ltd raised its position in shares of Arch Capital Group by 3,450.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the insurance provider’s stock valued at $39,000 after buying an additional 414 shares in the last quarter. TD Waterhouse Canada Inc. raised its position in shares of Arch Capital Group by 31.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 469 shares of the insurance provider’s stock valued at $43,000 after buying an additional 112 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Arch Capital Group by 157.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider’s stock worth $65,000 after acquiring an additional 412 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in shares of Arch Capital Group during the 2nd quarter worth approximately $73,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Stock Down 0.7%

Shares of ACGL opened at $91.72 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.55 and a current ratio of 0.55. Arch Capital Group Ltd. has a 52 week low of $82.44 and a 52 week high of $98.81. The stock has a market capitalization of $33.26 billion, a price-to-earnings ratio of 8.58, a PEG ratio of 2.14 and a beta of 0.47. The stock has a fifty day moving average of $90.21 and a 200-day moving average of $90.34.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $1.01. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $4.39 billion. Arch Capital Group had a return on equity of 16.38% and a net margin of 20.96%.During the same quarter in the previous year, the company posted $1.99 EPS. As a group, sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Arch Capital Group

In other news, CFO Francois Morin sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $94.62, for a total value of $756,960.00. Following the completion of the transaction, the chief financial officer owned 266,681 shares of the company’s stock, valued at $25,233,356.22. This represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Citigroup restated a “market outperform” rating on shares of Arch Capital Group in a research report on Tuesday, October 28th. Keefe, Bruyette & Woods raised their target price on Arch Capital Group from $102.00 to $103.00 and gave the company a “market perform” rating in a report on Thursday, August 14th. Cantor Fitzgerald reissued a “neutral” rating and set a $98.00 price target on shares of Arch Capital Group in a report on Tuesday, October 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Arch Capital Group in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their price objective on Arch Capital Group from $110.00 to $111.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Arch Capital Group currently has a consensus rating of “Hold” and a consensus price target of $106.85.

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.