Sumitomo Mitsui DS Asset Management Company Ltd Has $7.18 Million Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,159 shares of the insurance provider’s stock after acquiring an additional 512 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Arch Capital Group were worth $7,178,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ACGL. Capital International Investors raised its holdings in shares of Arch Capital Group by 61.1% during the first quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock worth $380,167,000 after acquiring an additional 1,560,173 shares during the period. Brandes Investment Partners LP bought a new position in Arch Capital Group in the second quarter valued at $48,119,000. Natixis Advisors LLC grew its position in Arch Capital Group by 59.1% in the second quarter. Natixis Advisors LLC now owns 1,139,480 shares of the insurance provider’s stock valued at $114,962,000 after purchasing an additional 423,406 shares in the last quarter. Retirement Systems of Alabama grew its position in Arch Capital Group by 385.0% in the first quarter. Retirement Systems of Alabama now owns 398,884 shares of the insurance provider’s stock valued at $36,873,000 after purchasing an additional 316,640 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Arch Capital Group by 10.1% in the second quarter. Legal & General Group Plc now owns 3,455,949 shares of the insurance provider’s stock valued at $348,671,000 after purchasing an additional 316,070 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of Arch Capital Group stock in a transaction dated 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 owns 221,779 shares in the company, valued at $22,723,476.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.20% of the company’s stock.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $108.53 on Friday. The company has a market capitalization of $40.75 billion, a price-to-earnings ratio of 8.57, a PEG ratio of 2.06 and a beta of 0.59. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.60 and a current ratio of 0.60. The company has a 50-day simple moving average of $110.05 and a 200 day simple moving average of $101.82. Arch Capital Group Ltd. has a 52 week low of $72.85 and a 52 week high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.21 by $0.36. The business had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. Arch Capital Group’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.92 EPS. On average, sell-side analysts predict that Arch Capital Group Ltd. will post 9.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ACGL shares. TD Cowen raised their target price on shares of Arch Capital Group from $116.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Wells Fargo & Company raised their target price on shares of Arch Capital Group from $110.00 to $126.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Citigroup raised their target price on shares of Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Barclays initiated coverage on shares of 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. Finally, StockNews.com raised shares of Arch Capital Group from a “hold” rating to a “buy” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $119.53.

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.