Ensign Peak Advisors Inc Sells 5,450 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Ensign Peak Advisors Inc reduced its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 3.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 164,099 shares of the insurance provider’s stock after selling 5,450 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Arch Capital Group were worth $16,556,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Arch Capital Group by 0.3% in the first quarter. Vanguard Group Inc. now owns 40,858,890 shares of the insurance provider’s stock worth $3,776,996,000 after acquiring an additional 104,008 shares in the last quarter. Capital World Investors boosted its stake in Arch Capital Group by 0.6% in the 4th quarter. Capital World Investors now owns 10,611,092 shares of the insurance provider’s stock worth $788,086,000 after purchasing an additional 58,862 shares in the last quarter. Principal Financial Group Inc. grew its position in Arch Capital Group by 4.4% during the 2nd quarter. Principal Financial Group Inc. now owns 7,100,952 shares of the insurance provider’s stock valued at $716,415,000 after purchasing an additional 300,716 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Arch Capital Group by 1.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,907,122 shares of the insurance provider’s stock valued at $546,054,000 after purchasing an additional 99,329 shares in the last quarter. Finally, Capital International Investors raised its holdings in Arch Capital Group by 61.1% in the first quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock worth $380,167,000 after buying an additional 1,560,173 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling at Arch Capital Group

In other news, CFO Francois Morin sold 11,460 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the sale, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at $22,723,476.34. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.20% of the company’s stock.

Arch Capital Group Trading Up 0.4 %

NASDAQ:ACGL opened at $113.66 on Tuesday. Arch Capital Group Ltd. has a one year low of $72.85 and a one year high of $114.69. The business has a fifty day moving average price of $104.48 and a 200-day moving average price of $99.23. The firm has a market capitalization of $42.74 billion, a price-to-earnings ratio of 8.97, a price-to-earnings-growth ratio of 2.07 and a beta of 0.60. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.60.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.36. The business had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.92 earnings per share. Sell-side analysts forecast that Arch Capital Group Ltd. will post 9.01 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ACGL shares. TD Cowen increased their price target on shares of Arch Capital Group from $116.00 to $138.00 and gave the company a “buy” rating in a report on Friday. Keefe, Bruyette & Woods lifted their target price on Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Citigroup upped their price target on Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Evercore ISI increased their price objective on Arch Capital Group from $100.00 to $104.00 and gave the company an “in-line” rating in a research report on Wednesday, July 31st. Finally, Barclays initiated coverage on Arch Capital Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 target price for the company. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $113.73.

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.