Sumitomo Mitsui DS Asset Management Company Ltd Purchases 714 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.1% in the first quarter, HoldingsChannel reports. The firm owned 65,567 shares of the insurance provider’s stock after purchasing an additional 714 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Arch Capital Group were worth $6,306,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cim LLC boosted its stake in Arch Capital Group by 1.1% in the fourth quarter. Cim LLC now owns 11,194 shares of the insurance provider’s stock worth $1,034,000 after purchasing an additional 124 shares in the last quarter. CreativeOne Wealth LLC raised its holdings in shares of Arch Capital Group by 4.9% in the fourth quarter. CreativeOne Wealth LLC now owns 2,682 shares of the insurance provider’s stock valued at $248,000 after buying an additional 126 shares during the last quarter. HBK Sorce Advisory LLC lifted its position in Arch Capital Group by 5.7% during the 4th quarter. HBK Sorce Advisory LLC now owns 2,373 shares of the insurance provider’s stock worth $219,000 after buying an additional 127 shares in the last quarter. Aurora Investment Managers LLC. grew its holdings in Arch Capital Group by 0.6% during the 1st quarter. Aurora Investment Managers LLC. now owns 22,530 shares of the insurance provider’s stock worth $2,167,000 after acquiring an additional 135 shares during the last quarter. Finally, Synovus Financial Corp increased its position in Arch Capital Group by 3.0% in the 4th quarter. Synovus Financial Corp now owns 4,740 shares of the insurance provider’s stock valued at $438,000 after acquiring an additional 139 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Insider Activity

In related news, insider John M. Pasquesi sold 75,060 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $94.01, for a total value of $7,056,390.60. Following the completion of the sale, the insider owned 579,218 shares in the company, valued at $54,452,284.18. This represents a 11.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Francois Morin sold 12,630 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $94.58, for a total value of $1,194,545.40. Following the sale, the chief financial officer directly owned 274,681 shares in the company, valued at $25,979,328.98. The trade was a 4.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,976 shares of company stock worth $10,531,038 over the last three months. Company insiders own 4.20% of the company’s stock.

Analyst Ratings Changes

ACGL has been the topic of several research analyst reports. Morgan Stanley set a $110.00 price target on shares of Arch Capital Group and gave the company an “overweight” rating in a research note on Monday, May 19th. Wells Fargo & Company increased their price objective on Arch Capital Group from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. Keefe, Bruyette & Woods boosted their target price on Arch Capital Group from $104.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. raised their price target on Arch Capital Group from $106.00 to $107.00 and gave the company a “neutral” rating in a report on Tuesday, April 8th. Finally, Jefferies Financial Group lowered Arch Capital Group from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $106.00 to $100.00 in a research report on Tuesday, June 10th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $114.27.

Arch Capital Group Trading Down 3.4%

NASDAQ:ACGL opened at $88.38 on Thursday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16. Arch Capital Group Ltd. has a 1-year low of $82.49 and a 1-year high of $116.47. The firm has a market capitalization of $33.12 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 6.33 and a beta of 0.51. The business’s 50-day moving average price is $92.30 and its two-hundred day moving average price is $92.12.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.05). The firm had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.75 billion. Arch Capital Group had a net margin of 20.72% and a return on equity of 15.79%. The business’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.45 earnings per share. On average, equities analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

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.