Allspring Global Investments Holdings LLC Grows Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Allspring Global Investments Holdings LLC increased its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 4.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,350,868 shares of the insurance provider’s stock after purchasing an additional 226,617 shares during the quarter. Arch Capital Group accounts for 0.8% of Allspring Global Investments Holdings LLC’s portfolio, making the stock its 13th largest position. Allspring Global Investments Holdings LLC owned about 1.42% of Arch Capital Group worth $488,992,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. UMB Bank n.a. grew its stake in shares of Arch Capital Group by 41.9% during the 3rd quarter. UMB Bank n.a. now owns 427 shares of the insurance provider’s stock valued at $48,000 after purchasing an additional 126 shares during the period. Exchange Traded Concepts LLC purchased a new position in shares of Arch Capital Group in the third quarter worth approximately $912,000. Procyon Advisors LLC grew its position in Arch Capital Group by 8.0% during the third quarter. Procyon Advisors LLC now owns 9,264 shares of the insurance provider’s stock valued at $1,037,000 after buying an additional 687 shares during the period. Empirical Asset Management LLC purchased a new stake in Arch Capital Group during the third quarter valued at approximately $904,000. Finally, CX Institutional raised its position in Arch Capital Group by 1,838.1% in the third quarter. CX Institutional now owns 40,953 shares of the insurance provider’s stock worth $4,582,000 after acquiring an additional 38,840 shares during the period. Institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

ACGL has been the subject of a number of recent research reports. Wells Fargo & Company cut their price objective on shares of Arch Capital Group from $107.00 to $106.00 and set an “overweight” rating for the company in a research report on Wednesday. Barclays cut their price target on Arch Capital Group from $120.00 to $100.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Keefe, Bruyette & Woods decreased their price objective on Arch Capital Group from $121.00 to $120.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Royal Bank of Canada cut their price objective on Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, JMP Securities reissued a “market outperform” rating and issued a $125.00 target price on shares of Arch Capital Group in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $117.93.

Arch Capital Group Trading Down 2.0 %

ACGL stock opened at $89.60 on Wednesday. The firm has a fifty day moving average price of $93.09 and a 200 day moving average price of $101.15. Arch Capital Group Ltd. has a fifty-two week low of $82.75 and a fifty-two week high of $116.47. The firm has a market cap of $33.71 billion, a PE ratio of 6.01, a price-to-earnings-growth ratio of 1.53 and a beta of 0.64. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.58 and a current ratio of 0.58.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Monday, February 10th. The insurance provider reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.36. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. During the same period in the previous year, the company posted $2.45 earnings per share. Sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.86 earnings per share for the current fiscal year.

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.