US Bancorp DE Sells 2,534 Shares of Arch Capital Group Ltd. $ACGL

US Bancorp DE lessened its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 73,258 shares of the insurance provider’s stock after selling 2,534 shares during the quarter. US Bancorp DE’s holdings in Arch Capital Group were worth $6,670,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ACGL. Farther Finance Advisors LLC raised its holdings in Arch Capital Group by 324.1% during the 1st quarter. Farther Finance Advisors LLC now owns 4,033 shares of the insurance provider’s stock valued at $388,000 after acquiring an additional 3,082 shares during the period. GAMMA Investing LLC raised its holdings in Arch Capital Group by 13.5% during the 1st quarter. GAMMA Investing LLC now owns 8,382 shares of the insurance provider’s stock valued at $806,000 after acquiring an additional 998 shares during the period. Assenagon Asset Management S.A. raised its holdings in Arch Capital Group by 5.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 36,507 shares of the insurance provider’s stock valued at $3,511,000 after acquiring an additional 2,003 shares during the period. Simon Quick Advisors LLC bought a new stake in Arch Capital Group during the 1st quarter valued at $229,000. Finally, Fifth Third Bancorp raised its holdings in Arch Capital Group by 18.0% during the 1st quarter. Fifth Third Bancorp now owns 5,035 shares of the insurance provider’s stock valued at $484,000 after acquiring an additional 769 shares during the period. Institutional investors own 89.07% of the company’s stock.

Insider Transactions at Arch Capital Group

In related news, insider Maamoun Rajeh sold 10,000 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $94.15, for a total value of $941,500.00. Following the completion of the transaction, the insider directly owned 433,589 shares in the company, valued at approximately $40,822,404.35. The trade was a 2.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. UBS Group reissued a “buy” rating and set a $118.00 target price (down previously from $124.00) on shares of Arch Capital Group in a report on Monday, August 4th. Cantor Fitzgerald raised shares of Arch Capital Group to a “hold” rating in a report on Wednesday, August 13th. Wells Fargo & Company boosted their price target on shares of Arch Capital Group from $107.00 to $111.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Arch Capital Group in a research report on Wednesday, October 8th. Finally, Barclays set a $99.00 price target on shares of Arch Capital Group and gave the company an “equal weight” rating in a research report on Wednesday. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $110.31.

Arch Capital Group Stock Up 0.3%

Shares of NASDAQ:ACGL opened at $92.47 on Monday. Arch Capital Group Ltd. has a 52-week low of $82.49 and a 52-week high of $115.06. The firm has a fifty day moving average of $90.63 and a 200 day moving average of $91.03. The firm has a market capitalization of $34.51 billion, a PE ratio of 9.54, a price-to-earnings-growth ratio of 5.47 and a beta of 0.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.28. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. The company had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same period in the previous year, the business earned $2.57 earnings per share. As a group, research analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Arch Capital Group 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.