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

Allspring Global Investments Holdings LLC trimmed its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.9% in the 1st quarter, HoldingsChannel reports. The firm owned 3,631,694 shares of the insurance provider’s stock after selling 34,275 shares during the quarter. Arch Capital Group makes up about 0.6% of Allspring Global Investments Holdings LLC’s portfolio, making the stock its 27th biggest position. Allspring Global Investments Holdings LLC’s holdings in Arch Capital Group were worth $346,790,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Elyxium Wealth LLC purchased a new stake in shares of Arch Capital Group in the 4th quarter valued at approximately $27,000. WealthCollab LLC raised its stake in Arch Capital Group by 410.3% during the 3rd quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 238 shares during the period. JPL Wealth Management LLC acquired a new stake in Arch Capital Group during the 3rd quarter valued at $28,000. Grove Bank & Trust purchased a new stake in shares of Arch Capital Group in the fourth quarter valued at $30,000. Finally, Aventura Private Wealth LLC purchased a new stake in shares of Arch Capital Group in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling at Arch Capital Group

In other news, Director Daniel Joseph Houston bought 5,300 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were acquired at an average cost of $94.08 per share, for a total transaction of $498,624.00. Following the purchase, the director owned 9,915 shares of the company’s stock, valued at $932,803.20. This represents a 114.84% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian S. Posner sold 3,000 shares of Arch Capital Group stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total transaction of $58,980.00. Additional details regarding this sale are available in the official SEC disclosure. 3.30% of the stock is currently owned by corporate insiders.

Arch Capital Group Trading Up 1.5%

Shares of NASDAQ:ACGL opened at $100.04 on Friday. The stock has a market capitalization of $34.95 billion, a PE ratio of 7.68, a P/E/G ratio of 4.90 and a beta of 0.31. Arch Capital Group Ltd. has a 1 year low of $82.44 and a 1 year high of $105.09. The firm has a fifty day moving average price of $94.94 and a 200 day moving average price of $95.59. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.15.

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. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%.The company had revenue of $4.52 billion for the quarter. Analysts expect that Arch Capital Group Ltd. will post 9.35 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Citigroup lifted their price target on Arch Capital Group from $120.00 to $122.50 and gave the company a “buy” rating in a report on Thursday, April 30th. Wells Fargo & Company increased their price objective on Arch Capital Group from $110.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Morgan Stanley raised their price objective on Arch Capital Group from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. JPMorgan Chase & Co. lowered their target price on Arch Capital Group from $117.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $102.00 target price (up from $100.00) on shares of Arch Capital Group in a report on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Arch Capital Group presently has a consensus rating of “Hold” and an average price target of $109.39.

About Arch Capital Group

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.