Sumitomo Life Insurance Co. Lowers Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Sumitomo Life Insurance Co. lessened its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 9.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,089 shares of the insurance provider’s stock after selling 4,193 shares during the period. Sumitomo Life Insurance Co.’s holdings in Arch Capital Group were worth $1,231,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of ACGL. Norges Bank purchased a new position in shares of Arch Capital Group during the 4th quarter worth $90,777,000. BlackRock Inc. increased its position in shares of Arch Capital Group by 4.0% during the 4th quarter. BlackRock Inc. now owns 27,775,928 shares of the insurance provider’s stock worth $742,173,000 after purchasing an additional 1,058,345 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Arch Capital Group by 40.9% during the 4th quarter. California Public Employees Retirement System now owns 1,954,606 shares of the insurance provider’s stock worth $52,227,000 after purchasing an additional 567,170 shares during the last quarter. Morgan Stanley increased its position in shares of Arch Capital Group by 62.0% during the 3rd quarter. Morgan Stanley now owns 1,197,234 shares of the insurance provider’s stock worth $35,690,000 after purchasing an additional 458,034 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Arch Capital Group by 24.4% during the 3rd quarter. Marshall Wace LLP now owns 1,900,700 shares of the insurance provider’s stock worth $56,660,000 after purchasing an additional 372,742 shares during the last quarter. Institutional investors and hedge funds own 80.90% of the company’s stock.

A number of analysts recently issued reports on ACGL shares. ValuEngine raised Arch Capital Group from a “strong sell” rating to a “sell” rating in a research report on Saturday, February 2nd. JMP Securities reissued a “hold” rating on shares of Arch Capital Group in a research report on Sunday, February 17th. Zacks Investment Research downgraded Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Tuesday, April 16th. BidaskClub downgraded Arch Capital Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 13th. Finally, Wells Fargo & Co reissued a “hold” rating and set a $32.00 price objective on shares of Arch Capital Group in a research report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $31.00.

NASDAQ ACGL traded up $0.54 during trading on Friday, hitting $33.96. The stock had a trading volume of 835,580 shares, compared to its average volume of 996,174. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.54 and a quick ratio of 0.51. The company has a market cap of $13.71 billion, a P/E ratio of 15.44, a P/E/G ratio of 1.17 and a beta of 0.70. Arch Capital Group Ltd. has a twelve month low of $24.79 and a twelve month high of $34.58.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, April 30th. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.05. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Arch Capital Group had a return on equity of 10.24% and a net margin of 17.93%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.69 EPS. On average, analysts anticipate that Arch Capital Group Ltd. will post 2.6 EPS for the current fiscal year.

In related news, CFO Francois Morin sold 2,648 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $32.14, for a total transaction of $85,106.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc Grandisson sold 55,408 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $33.86, for a total value of $1,876,114.88. Following the completion of the sale, the chief executive officer now owns 115,487 shares of the company’s stock, valued at approximately $3,910,389.82. The disclosure for this sale can be found here. Insiders sold a total of 111,556 shares of company stock valued at $3,720,172 in the last quarter. Company insiders own 5.20% of the company’s stock.

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About Arch Capital Group

Arch Capital Group Ltd., together with its subsidiaries, provides property, casualty, and mortgage insurance and reinsurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; collateral protection, debt cancellation, and service contract reimbursement products; 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.

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Institutional Ownership by Quarter for Arch Capital Group (NASDAQ:ACGL)

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