Arch Capital Group Ltd. $ACGL Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 11.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,148,391 shares of the insurance provider’s stock after selling 687,377 shares during the period. Principal Financial Group Inc.’s holdings in Arch Capital Group were worth $467,117,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Quent Capital LLC purchased a new stake in shares of Arch Capital Group in the 3rd quarter valued at approximately $37,000. Richardson Financial Services Inc. grew its stake in shares of Arch Capital Group by 63.3% during the third quarter. Richardson Financial Services Inc. now owns 418 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 162 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Arch Capital Group by 3,450.0% in the second 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 during the last quarter. TD Waterhouse Canada Inc. raised its stake in Arch Capital Group by 31.4% in the second 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. Finally, Root Financial Partners LLC acquired a new stake in Arch Capital Group in the third quarter valued at $54,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Price Performance

ACGL stock opened at $96.04 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $34.83 billion, a P/E ratio of 8.98, a PEG ratio of 2.01 and a beta of 0.45. The business has a 50 day simple moving average of $93.95 and a 200-day simple moving average of $91.17. Arch Capital Group Ltd. has a twelve month low of $82.44 and a twelve month high of $97.60.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ACGL shares. Evercore ISI set a $100.00 price objective on Arch Capital Group and gave the stock an “in-line” rating in a research report on Wednesday, January 7th. Cantor Fitzgerald restated an “overweight” rating and set a $97.00 target price (up previously from $93.00) on shares of Arch Capital Group in a research note on Wednesday, January 14th. Citigroup reiterated a “market outperform” rating on shares of Arch Capital Group in a research note on Friday, January 16th. Mizuho set a $95.00 price objective on shares of Arch Capital Group and gave the stock a “neutral” rating in a report on Monday, December 15th. Finally, Barclays set a $104.00 price objective on shares of Arch Capital Group and gave the stock an “equal weight” rating in a research report on Thursday, January 8th. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Arch Capital Group presently has an average rating of “Hold” and an average target price of $107.53.

Insiders Place Their Bets

In other news, insider John M. Pasquesi sold 8,800 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $94.17, for a total value of $828,696.00. Following the completion of the sale, the insider directly owned 289,556 shares of the company’s stock, valued at approximately $27,267,488.52. This represents a 2.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 transaction 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 trade represents a 2.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 220,666 shares of company stock valued at $20,728,673. 4.20% of the stock is owned by company insiders.

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.