Sumitomo Mitsui Trust Holdings Inc. Acquires 4,446 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,015,428 shares of the insurance provider’s stock after purchasing an additional 4,446 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.27% of Arch Capital Group worth $93,866,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ACGL. SG Americas Securities LLC raised its holdings in shares of Arch Capital Group by 601.1% during the fourth quarter. SG Americas Securities LLC now owns 141,370 shares of the insurance provider’s stock valued at $10,500,000 after acquiring an additional 121,206 shares in the last quarter. Wedge Capital Management L L P NC increased its position in Arch Capital Group by 28.9% during the 4th quarter. Wedge Capital Management L L P NC now owns 205,698 shares of the insurance provider’s stock valued at $15,277,000 after purchasing an additional 46,089 shares during the period. Janney Montgomery Scott LLC raised its holdings in Arch Capital Group by 19.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 89,148 shares of the insurance provider’s stock worth $6,621,000 after purchasing an additional 14,233 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Arch Capital Group by 31.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 201,790 shares of the insurance provider’s stock worth $14,945,000 after purchasing an additional 48,587 shares during the period. Finally, Gladstone Capital Management LLP boosted its stake in shares of Arch Capital Group by 52.8% during the 4th quarter. Gladstone Capital Management LLP now owns 1,385,307 shares of the insurance provider’s stock valued at $102,887,000 after purchasing an additional 478,570 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity

In related news, CEO David Gansberg sold 10,000 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $96.64, for a total transaction of $966,400.00. Following the transaction, the chief executive officer now owns 228,035 shares in the company, valued at $22,037,302.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 4.00% of the company’s stock.

Arch Capital Group Stock Performance

ACGL stock opened at $97.65 on Friday. The stock’s 50 day simple moving average is $99.51 and its 200 day simple moving average is $89.96. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17. Arch Capital Group Ltd. has a 12-month low of $72.33 and a 12-month high of $103.79. The stock has a market capitalization of $36.67 billion, a PE ratio of 7.71, a price-to-earnings-growth ratio of 1.67 and a beta of 0.58.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.39. Arch Capital Group had a return on equity of 21.85% and a net margin of 33.65%. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the company posted $1.73 earnings per share. The company’s quarterly revenue was up 19.3% on a year-over-year basis. As a group, research analysts forecast that Arch Capital Group Ltd. will post 8.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on ACGL. JMP Securities raised their price objective on shares of Arch Capital Group from $100.00 to $110.00 and gave the stock a “market outperform” rating in a report on Tuesday, April 30th. Morgan Stanley lifted their price target on Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Wells Fargo & Company increased their price objective on Arch Capital Group from $109.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Evercore ISI boosted their target price on shares of Arch Capital Group from $98.00 to $100.00 and gave the company an “in-line” rating in a report on Tuesday, April 30th. Finally, Roth Mkm reiterated a “buy” rating and issued a $110.00 price target on shares of Arch Capital Group in a research note on Tuesday, April 30th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $102.00.

About Arch Capital Group

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.