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

Allspring Global Investments Holdings LLC lifted its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 4.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 5,350,868 shares of the insurance provider’s stock after acquiring an additional 226,617 shares during the period. Arch Capital Group comprises 0.8% of Allspring Global Investments Holdings LLC’s investment portfolio, making the stock its 13th largest holding. Allspring Global Investments Holdings LLC’s holdings in Arch Capital Group were worth $488,992,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Quantbot Technologies LP bought a new position in shares of Arch Capital Group in the third quarter worth about $25,000. Golden State Wealth Management LLC bought a new stake in Arch Capital Group during the 4th quarter valued at about $42,000. Y.D. More Investments Ltd boosted its position in Arch Capital Group by 125.6% in the 4th quarter. Y.D. More Investments Ltd now owns 467 shares of the insurance provider’s stock valued at $43,000 after buying an additional 260 shares during the period. UMB Bank n.a. grew its stake in Arch Capital Group by 41.9% in the 3rd quarter. UMB Bank n.a. now owns 427 shares of the insurance provider’s stock worth $48,000 after acquiring an additional 126 shares in the last quarter. Finally, Asset Dedication LLC increased its position in shares of Arch Capital Group by 188.1% during the third quarter. Asset Dedication LLC now owns 435 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 284 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Stock Down 2.0 %

Shares of ACGL stock opened at $89.60 on Wednesday. The stock’s fifty day moving average price is $93.09 and its 200 day moving average price is $101.15. Arch Capital Group Ltd. has a 1-year low of $82.75 and a 1-year high of $116.47. The company has a market cap of $33.71 billion, a price-to-earnings 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 current ratio of 0.58 and a quick ratio of 0.58.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results 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 return on equity of 18.94% and a net margin of 33.86%. During the same quarter last year, the business earned $2.45 EPS. On average, research analysts expect that Arch Capital Group Ltd. will post 8.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on ACGL. JPMorgan Chase & Co. dropped their price objective on Arch Capital Group from $110.00 to $106.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Barclays dropped their price target on Arch Capital Group from $120.00 to $100.00 and set an “equal weight” rating on the stock in a research 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 for the company in a report on Friday, January 10th. StockNews.com lowered shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada cut their target price on shares of Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.93.

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.