Wells Fargo & Company MN Decreases Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Wells Fargo & Company MN decreased its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 2.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,318,557 shares of the insurance provider’s stock after selling 29,051 shares during the quarter. Wells Fargo & Company MN owned about 0.35% of Arch Capital Group worth $121,769,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ACGL. Vanguard Group Inc. grew its stake in shares of Arch Capital Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 41,999,603 shares of the insurance provider’s stock worth $3,878,663,000 after acquiring an additional 182,150 shares during the last quarter. Geode Capital Management LLC boosted its stake in Arch Capital Group by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 11,010,756 shares of the insurance provider’s stock worth $1,014,648,000 after purchasing an additional 180,493 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Arch Capital Group by 10.5% in the 4th quarter. Principal Financial Group Inc. now owns 8,222,244 shares of the insurance provider’s stock worth $759,324,000 after purchasing an additional 783,506 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Arch Capital Group by 4.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,350,868 shares of the insurance provider’s stock worth $488,992,000 after purchasing an additional 226,617 shares during the last quarter. Finally, Norges Bank acquired a new position in Arch Capital Group during the 4th quarter valued at approximately $437,291,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Arch Capital Group

In other news, insider Louis T. Petrillo sold 11,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $91.00, for a total value of $1,055,600.00. Following the transaction, the insider now owns 140,023 shares in the company, valued at $12,742,093. This trade represents a 7.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.20% of the stock is currently owned by corporate insiders.

Arch Capital Group Stock Down 8.8 %

Arch Capital Group stock opened at $87.83 on Monday. Arch Capital Group Ltd. has a 12 month low of $87.42 and a 12 month high of $116.47. The stock has a market capitalization of $33.00 billion, a PE ratio of 7.84, a price-to-earnings-growth ratio of 2.31 and a beta of 0.36. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.54 and a quick ratio of 0.58. The business has a 50 day simple moving average of $92.23 and a 200-day simple moving average of $97.46.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Monday, February 10th. The insurance provider reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.36. Arch Capital Group had a net margin of 24.73% and a return on equity of 17.96%. During the same quarter in the previous year, the firm earned $2.45 earnings per share. On average, analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Royal Bank of Canada lowered their price objective on shares of Arch Capital Group from $125.00 to $110.00 and set an “outperform” rating for the company in a research note on Wednesday, February 12th. UBS Group cut their price objective on Arch Capital Group from $131.00 to $127.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. JPMorgan Chase & Co. dropped their target price on Arch Capital Group from $110.00 to $106.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Barclays decreased their price objective on shares of Arch Capital Group from $120.00 to $100.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $125.00 price objective on shares of Arch Capital Group in a research note on Tuesday, February 11th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $117.19.

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.