Citigroup Inc. significantly reduced its stake in Arch Capital Group Ltd. by 35.7% in the third quarter, selling 216,617 shares and retaining 389,935 shares valued at $35.38 million. This comes as Arch Capital Group reported solid quarterly earnings, beating EPS estimates, and analysts maintain a “Hold” consensus on the stock with an average price target of $109.20. Insider selling also notably occurred, with company insiders offloading 268,096 shares during the last quarter.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Citigroup Inc. Sells 216,617 Shares of Arch Capital Group Ltd. $ACGL
Citigroup Inc. significantly reduced its stake in Arch Capital Group Ltd. by 35.7% in the third quarter, selling 216,617 shares and retaining 389,935 shares valued at $35.38 million. This comes as Arch Capital Group reported solid quarterly earnings, beating EPS estimates, and analysts maintain a “Hold” consensus on the stock with an average price target of $109.20. Insider selling also notably occurred, with company insiders offloading 268,096 shares during the last quarter.