Truist Financial Corp Sells 14,744 Shares of Arch Capital Group Ltd. $ACGL

Truist Financial Corp cut its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 7.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 179,081 shares of the insurance provider’s stock after selling 14,744 shares during the period. Truist Financial Corp’s holdings in Arch Capital Group were worth $17,177,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Geneos Wealth Management Inc. increased its position in Arch Capital Group by 157.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider’s stock valued at $65,000 after buying an additional 412 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Arch Capital Group in the 2nd quarter valued at about $253,000. CW Advisors LLC increased its position in Arch Capital Group by 6.5% in the 2nd quarter. CW Advisors LLC now owns 3,098 shares of the insurance provider’s stock valued at $282,000 after buying an additional 189 shares in the last quarter. Jump Financial LLC bought a new stake in Arch Capital Group in the 2nd quarter valued at about $667,000. Finally, Cerity Partners LLC increased its position in Arch Capital Group by 11.6% in the 2nd quarter. Cerity Partners LLC now owns 47,486 shares of the insurance provider’s stock valued at $4,324,000 after buying an additional 4,933 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Insider Buying and Selling at Arch Capital Group

In other Arch Capital Group news, CEO Nicolas Papadopoulo sold 21,930 shares of Arch Capital Group stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $96.31, for a total transaction of $2,112,078.30. Following the completion of the transaction, the chief executive officer owned 871,594 shares in the company, valued at approximately $83,943,218.14. The trade was a 2.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel Joseph Houston purchased 5,300 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were bought at an average price of $94.08 per share, with a total value of $498,624.00. Following the purchase, the director directly owned 9,915 shares in the company, valued at approximately $932,803.20. The trade was a 114.84% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have sold 78,267 shares of company stock worth $7,291,637. 3.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on ACGL. JPMorgan Chase & Co. decreased their target price on Arch Capital Group from $117.00 to $110.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. Royal Bank Of Canada boosted their target price on Arch Capital Group from $108.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, February 11th. Wells Fargo & Company boosted their target price on Arch Capital Group from $109.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Mizuho decreased their target price on Arch Capital Group from $102.00 to $101.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Weiss Ratings raised Arch Capital Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 4th. Eight analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $106.32.

Arch Capital Group Price Performance

ACGL stock opened at $94.76 on Thursday. The company has a market capitalization of $33.76 billion, a P/E ratio of 7.28, a price-to-earnings-growth ratio of 5.15 and a beta of 0.35. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.53 and a current ratio of 0.55. Arch Capital Group Ltd. has a 52-week low of $82.44 and a 52-week high of $103.39. The business has a 50-day simple moving average of $96.21 and a two-hundred day simple moving average of $94.33.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share (EPS) for the quarter. The business had revenue of $4.52 billion during the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%. Research analysts expect that Arch Capital Group Ltd. will post 9.32 EPS for the current fiscal year.

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.