Atria Investments Inc Grows Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Atria Investments Inc grew its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 5.4% in the third quarter, Holdings Channel.com reports. The firm owned 31,883 shares of the insurance provider’s stock after buying an additional 1,624 shares during the period. Atria Investments Inc’s holdings in Arch Capital Group were worth $3,567,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Assetmark Inc. boosted its holdings in Arch Capital Group by 0.5% in the 3rd quarter. Assetmark Inc. now owns 961,422 shares of the insurance provider’s stock worth $107,564,000 after buying an additional 5,120 shares during the period. Summit Global Investments grew its position in shares of Arch Capital Group by 646.8% in the third quarter. Summit Global Investments now owns 77,739 shares of the insurance provider’s stock valued at $8,697,000 after purchasing an additional 67,329 shares in the last quarter. Bensler LLC grew its position in shares of Arch Capital Group by 0.7% in the third quarter. Bensler LLC now owns 18,921 shares of the insurance provider’s stock valued at $2,117,000 after purchasing an additional 126 shares in the last quarter. Lifestyle Asset Management Inc. lifted its holdings in Arch Capital Group by 2.7% during the 3rd quarter. Lifestyle Asset Management Inc. now owns 11,471 shares of the insurance provider’s stock worth $1,283,000 after purchasing an additional 299 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Arch Capital Group by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 7,438,738 shares of the insurance provider’s stock worth $832,246,000 after purchasing an additional 337,786 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity

In related news, CFO Francois Morin sold 11,460 shares of Arch Capital Group stock in a transaction on Friday, August 16th. The shares were sold at an average price of $102.46, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

ACGL has been the topic of several analyst reports. Barclays initiated coverage on Arch Capital Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 price target on the stock. StockNews.com cut shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Citigroup boosted their price target on shares of Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. JMP Securities increased their price objective on Arch Capital Group from $115.00 to $125.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 15th. Finally, Bank of America boosted their target price on Arch Capital Group from $119.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $118.88.

Arch Capital Group Price Performance

ACGL stock opened at $101.18 on Thursday. The firm has a market cap of $38.07 billion, a P/E ratio of 6.79, a P/E/G ratio of 1.46 and a beta of 0.61. The firm’s fifty day moving average is $108.45 and its 200 day moving average is $103.19. Arch Capital Group Ltd. has a 52 week low of $72.85 and a 52 week high of $116.47. 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 announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.05. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. The firm had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same period last year, the firm earned $2.31 earnings per share. Research analysts predict that Arch Capital Group Ltd. will post 9 earnings per share for the current year.

Arch Capital Group Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th will be given a $5.00 dividend. The ex-dividend date is Monday, November 18th.

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.