Arch Capital Group Ltd. $ACGL Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,631,694 shares of the insurance provider’s stock after selling 34,275 shares during the period. Arch Capital Group comprises about 0.6% of Allspring Global Investments Holdings LLC’s investment portfolio, making the stock its 27th largest position. Allspring Global Investments Holdings LLC owned approximately 1.02% of Arch Capital Group worth $346,790,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Arch Capital Group in the 4th quarter valued at about $463,208,000. AQR Capital Management LLC increased its holdings in Arch Capital Group by 184.1% in the fourth quarter. AQR Capital Management LLC now owns 2,670,628 shares of the insurance provider’s stock valued at $256,167,000 after buying an additional 1,730,487 shares during the last quarter. Fiduciary Management Inc. WI acquired a new stake in Arch Capital Group during the fourth quarter valued at approximately $106,683,000. Arrowstreet Capital Limited Partnership raised its stake in Arch Capital Group by 572.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,268,601 shares of the insurance provider’s stock valued at $121,684,000 after buying an additional 1,080,049 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Arch Capital Group by 289.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,368,648 shares of the insurance provider’s stock worth $124,615,000 after buying an additional 1,016,919 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Arch Capital Group Trading Up 1.5%

Arch Capital Group stock opened at $100.04 on Friday. Arch Capital Group Ltd. has a 52-week low of $82.44 and a 52-week high of $105.09. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $34.95 billion, a price-to-earnings ratio of 7.68, a PEG ratio of 4.90 and a beta of 0.31. The firm has a 50-day moving average price of $94.94 and a two-hundred day moving average price of $95.59.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $2.50 EPS for the quarter. The company had revenue of $4.52 billion for the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. Sell-side analysts expect that Arch Capital Group Ltd. will post 9.35 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Brian S. Posner sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total value of $58,980.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel Joseph Houston bought 5,300 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was purchased at an average price of $94.08 per share, with a total value of $498,624.00. Following the completion of the transaction, the director directly owned 9,915 shares of the company’s stock, valued at $932,803.20. This trade represents a 114.84% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ACGL. Wells Fargo & Company upped their price target on Arch Capital Group from $110.00 to $114.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Cantor Fitzgerald reiterated a “neutral” rating and set a $102.00 target price (up from $100.00) on shares of Arch Capital Group in a research note on Thursday, July 9th. Morgan Stanley increased their target price on shares of Arch Capital Group from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Barclays raised their price target on shares of Arch Capital Group from $104.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 8th. Finally, Atlantic Securities set a $126.00 price target on shares of Arch Capital Group in a report on Wednesday. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $109.39.

Arch Capital Group Company 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.