Truist Financial Corp Reduces Stock Position in Arch Capital Group Ltd. $ACGL

Truist Financial Corp cut its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 12.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 193,825 shares of the insurance provider’s stock after selling 27,748 shares during the quarter. Truist Financial Corp’s holdings in Arch Capital Group were worth $17,586,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TD Waterhouse Canada Inc. grew its holdings in shares of Arch Capital Group by 31.4% in the second quarter. TD Waterhouse Canada Inc. now owns 469 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 112 shares during the period. Crescent Grove Advisors LLC lifted its holdings in Arch Capital Group by 3.1% in the second quarter. Crescent Grove Advisors LLC now owns 3,702 shares of the insurance provider’s stock valued at $337,000 after acquiring an additional 112 shares during the period. TIAA Trust National Association boosted its position in Arch Capital Group by 3.1% in the second quarter. TIAA Trust National Association now owns 3,892 shares of the insurance provider’s stock worth $354,000 after purchasing an additional 116 shares during the last quarter. Greenleaf Trust boosted its position in Arch Capital Group by 4.2% in the second quarter. Greenleaf Trust now owns 3,082 shares of the insurance provider’s stock worth $281,000 after purchasing an additional 125 shares during the last quarter. Finally, J.W. Cole Advisors Inc. grew its stake in shares of Arch Capital Group by 4.4% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 3,025 shares of the insurance provider’s stock valued at $275,000 after purchasing an additional 127 shares during the period. 89.07% of the stock is owned by institutional investors.

Arch Capital Group Stock Up 0.3%

ACGL opened at $96.04 on Friday. The stock has a market cap of $34.83 billion, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 2.01 and a beta of 0.45. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.55 and a current ratio of 0.55. The firm’s fifty day moving average is $93.95 and its 200 day moving average is $91.15. Arch Capital Group Ltd. has a fifty-two week low of $82.44 and a fifty-two week high of $97.60.

Insider Activity

In other news, insider John M. Pasquesi sold 203,866 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $93.90, for a total value of $19,143,017.40. Following the completion of the transaction, the insider owned 351,356 shares of the company’s stock, valued at $32,992,328.40. This represents a 36.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Francois Morin sold 8,000 shares of the stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $94.62, for a total value of $756,960.00. Following the sale, 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 position. The SEC filing for this sale provides additional information. Insiders sold 220,666 shares of company stock worth $20,728,673 over the last 90 days. Company insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

ACGL has been the topic of several recent research reports. Evercore ISI set a $100.00 price objective on shares of Arch Capital Group and gave the stock an “in-line” rating in a research note on Wednesday, January 7th. Barclays set a $104.00 price target on shares of Arch Capital Group and gave the stock an “equal weight” rating in a research note on Thursday, January 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Arch Capital Group in a research note on Wednesday, January 21st. Morgan Stanley set a $125.00 target price on Arch Capital Group in a report on Friday, January 16th. Finally, JPMorgan Chase & Co. boosted their price target on Arch Capital Group from $111.00 to $117.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Eight equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Arch Capital Group has a consensus rating of “Hold” and an average target price of $107.53.

Arch Capital Group Profile

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.