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

Allspring Global Investments Holdings LLC raised its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,124,251 shares of the insurance provider’s stock after purchasing an additional 49,426 shares during the quarter. Arch Capital Group accounts for 0.9% of Allspring Global Investments Holdings LLC’s investment portfolio, making the stock its 10th biggest holding. Allspring Global Investments Holdings LLC owned about 1.36% of Arch Capital Group worth $573,301,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Capital International Investors increased its stake in shares of Arch Capital Group by 61.1% in 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 last quarter. Brandes Investment Partners LP bought a new stake in Arch Capital Group during the second quarter valued at about $48,119,000. Natixis Advisors LLC raised its position in shares of Arch Capital Group by 59.1% during the second quarter. Natixis Advisors LLC now owns 1,139,480 shares of the insurance provider’s stock valued at $114,962,000 after buying an additional 423,406 shares during the last quarter. Retirement Systems of Alabama raised its position in shares of Arch Capital Group by 385.0% during the first quarter. Retirement Systems of Alabama now owns 398,884 shares of the insurance provider’s stock valued at $36,873,000 after buying an additional 316,640 shares during the last quarter. Finally, Legal & General Group Plc raised 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 worth $348,671,000 after purchasing an additional 316,070 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ACGL has been the subject of a number of analyst reports. Jefferies Financial Group raised their price target on shares of Arch Capital Group from $114.00 to $134.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. TD Cowen raised their price target on shares of Arch Capital Group from $116.00 to $138.00 and gave the company a “buy” rating in a report on Friday, September 20th. Citigroup raised their price target on shares of Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Roth Mkm lifted their target price on shares of Arch Capital Group from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Arch Capital Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.53.

Arch Capital Group Trading Up 0.3 %

Shares of ACGL traded up $0.28 during trading hours on Friday, hitting $108.53. 4,339,404 shares of the stock were exchanged, compared to its average volume of 1,638,610. Arch Capital Group Ltd. has a fifty-two week low of $72.85 and a fifty-two week high of $116.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.60. The business has a 50-day moving average of $110.05 and a 200-day moving average of $101.89. The firm has a market capitalization of $40.75 billion, a P/E ratio of 8.57, a price-to-earnings-growth ratio of 2.06 and a beta of 0.59.

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

Insider Activity

In related news, CFO Francois Morin sold 11,460 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the transaction, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at $22,723,476.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.20% of the company’s stock.

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.