Arch Capital Group Ltd. (NASDAQ:ACGL) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp raised its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 11.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,250 shares of the insurance provider’s stock after purchasing an additional 6,669 shares during the quarter. Van ECK Associates Corp’s holdings in Arch Capital Group were worth $7,196,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ACGL. Norden Group LLC purchased a new stake in Arch Capital Group in the first quarter valued at $431,000. Nordea Investment Management AB raised its position in Arch Capital Group by 5.4% in the first quarter. Nordea Investment Management AB now owns 27,951 shares of the insurance provider’s stock valued at $2,566,000 after purchasing an additional 1,442 shares during the period. SG Americas Securities LLC raised its holdings in shares of Arch Capital Group by 34.2% in the 1st quarter. SG Americas Securities LLC now owns 189,743 shares of the insurance provider’s stock valued at $17,540,000 after buying an additional 48,373 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in shares of Arch Capital Group in the 1st quarter valued at $1,427,000. Finally, Sustainable Insight Capital Management LLC raised its holdings in shares of Arch Capital Group by 875.0% in the 1st quarter. Sustainable Insight Capital Management LLC now owns 31,200 shares of the insurance provider’s stock valued at $2,884,000 after buying an additional 28,000 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the sale, the chief financial officer now owns 221,779 shares in the company, valued at approximately $22,723,476.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.20% of the company’s stock.

Arch Capital Group Stock Down 1.9 %

Shares of NASDAQ ACGL opened at $99.80 on Friday. The stock has a market cap of $37.53 billion, a PE ratio of 6.70, a price-to-earnings-growth ratio of 1.36 and a beta of 0.61. The business has a 50-day moving average price of $109.41 and a 200 day moving average price of $102.89. Arch Capital Group Ltd. has a 52-week low of $72.85 and a 52-week high of $116.47. The company has a quick ratio of 0.60, a current ratio of 0.58 and a debt-to-equity ratio of 0.17.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.05. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.05 billion. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. During the same period in the prior year, the business posted $2.31 EPS. Equities research analysts forecast that Arch Capital Group Ltd. will post 9.09 earnings per share for the current year.

Arch Capital Group Dividend Announcement

The company also recently declared a special dividend, which will be paid on Wednesday, December 4th. Investors of record on Monday, November 18th will be issued a $5.00 dividend.

Wall Street Analyst Weigh In

ACGL has been the topic of several research analyst reports. Citigroup boosted their price objective on Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. BMO Capital Markets boosted their target price on Arch Capital Group from $98.00 to $104.00 and gave the stock a “market perform” rating in a research note on Wednesday. Wells Fargo & Company lowered their target price on Arch Capital Group from $126.00 to $118.00 and set an “overweight” rating for the company in a research note on Monday. Barclays began coverage on Arch Capital Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 target price for the company. Finally, JMP Securities boosted their target price on Arch Capital Group from $115.00 to $125.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Arch Capital Group presently has a consensus rating of “Moderate Buy” and an average target price of $118.88.

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.